ACT Expo 2018

Wells Fargo Leasing for Autocar Trucks

May 3, 2012 in Hydraulic Hybrid by Rich Piellisch  |  No Comments

Pact Covers Autocar E3 Vehicle with the Fuel-Saving
RunWise Hydraulic Hybrid Driveline from Parker Hannifin

Parker Hannifin’s Parker Hybrid Drives Systems unit is promoting a Wells Fargo Equipment Finance leasing program which will help place hydraulic hybrid refuse trucks via select Autocar dealerships in the U.S.

Autocar E3 trucks with Parker’s heavy duty RunWise hydraulic hybrid have been shown to reduce fuel consumption by 35 to 50% (F&F, March 26).

Wells Fargo Equipment Finance is helping select Autocar dealers place E3 trucks with the fuel-saving RunWise hydraulic hybrid drivelines from Parker Hannifin with refuse customers.

“Many fleets have money appropriated for purchases such as refuse trucks,” Parker Hybrid Drives Systems GM Shane Terblanche, said in a May 2 release. “Leasing allows them to better manage their cash flow and the reduction in fuel consumption, brake maintenance and productivity gains can help offset the cost of the technology.”

“Our goal for this leasing program is to provide creative financing solutions for Autocar dealerships to help sell products,” said Jeff Sorem, program manager at Wells Fargo Equipment Finance. “Financing is a big piece of the customer’s acquisition in today’s market.

“Not too many companies or municipalities are paying cash for vehicles of this size,” Sorem said. “Financing and financing options are generally part of the sales process, so we work with the vendors to establish programs and offer attractive financial options for their customers to purchase equipment.”

Terblanche pointed out too that leasing allows commercial groups to preserve capital. “Additionally, in many lease structures the leasing company is the owner of the equipment so it remains on their balance sheet, which can be an advantage for the customer,” states the release. “In some structures, through lower rental payments, Wells Fargo may be able to pass on depreciation benefits that customers wouldn’t otherwise receive.”

Parker states unequivocally that “Autocar refuse trucks equipped with RunWise technology deliver unmatched fuel savings and engine efficiency over all other options for refuse vehicles in the market today” (emphasis added).

from Tom DeCoster's presentation at the Green Truck Summit this past March in Indianapolis

“Beyond brake energy recovery capabilities and reduced noise levels, the Autocar refuse trucks commonly demonstrate annual fuel savings of 35-50% with the hybrid drive system, reusing as much as 71% of the vehicle’s braking energy that would otherwise be lost.” That compares with just 21% for hybrid electric systems, Parker’s Tom DeCoster said at the recent Green Truck Summit in Indianapolis. Additional benefits include reduced maintenance costs, less engine wear and tear, and extended brake life.

Wells Fargo also offers a TRAC (Terminal Rental Adjustment Clause) lease product, which may be structured with a 60-month term and an end of term TRAC amount based on 20% of the original vehicle cost. Under that structure, Parker explains, at the end of the lease term the customer’s maximum payment would be limited to 20% of the vehicle’s original cost and the customer would be paid a rent adjustment equal to the amount by which the vehicle’s value at that time exceeds 20% of its original cost.

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