MISSISSAUGA, Ont. — In light of a move by certain finance companies to suspend subsidized leasing in Canada, Isuzu Commercial Truck of Canada (ICTC) has announced low-rate financing for its commercial vehicles. Most notable is a “0%” program for up to 60 months on their gas engine models. Diesel-powered model financing can be as low as 4.9% for well-qualified customers, Isuzu officials said.
This is the first time that ICTC has offered such an aggressive finance program for their medium-duty trucks in Canada.
The swing away from leasing is a result of the capital markets taking a very restrictive stance regarding the lease business, given the continued crisis in the financial markets and the impact that the increased commodity prices have on consumer behaviour and residual values.
ICTC believes that the new reduced rate financing is a more viable alternative. With that in mind, they have quickly responded to this situation by replacing a recently announced gas model reduced rate lease with an aggressive “0%” finance program. With the right combination of rate and cost, the finance program may result in a better payment than the lease, officials said.
Isuzu-manufactured low cab forward trucks are sold through a network of Isuzu truck and GMC W-series dealers.
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