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Fleet Advantage says it has secured an additional volume of $7.5 million in new business through its pioneering Sale-Leaseback program. The additional volume follows an initial $17 million generated shortly after the program’s launch in May.
Fleet Advantage’s Sale-Leaseback program features the flexibility to dispose of surplus trucks and convert “dormant equity” locked up in truck ownership into cash with the opportunity to upgrade the fleet at a future date, the company says.
Fleet Advantage will purchase a set number of existing truck equipment assets and lease them back to clients until they transition into newer, safer equipment at a predetermined, fixed monthly payment, the company says.