ACT Expo 2018

APG Offers Leases for Dual Fuel Fleets

February 17, 2014 in Dual Fuel, money available, NGVs by Rich Piellisch  |  No Comments

‘Financing Terms with and Without a Perfected Security Interest’

American Power Group is promoting a new financing offer for its conversions of heavy duty trucks to natural gas-diesel dual fuel operation. The program, offered in concert with Pittsburgh-based VFG Energy Leasing and Finance, is aimed at conversions of fleets as well as individual vehicles.

APG's V2500 kit on a Class 8 truck

APG’s V2500 kit on a Class 8 truck

VFG is “willing to provide financing terms with and without a perfected security interest on the entire vehicle chassis,” APG CEO Lyle Jensen says in a release. “This is critical for many of the fleet operators we’ve spoken to who are looking to convert multiple units at a time.

“We believe our ability to offer fleet customers with a viable financing solution will provide them with a path to convert a larger percent of their fleet sooner rather than later.”

‘Fuel Savings of $1,000 to $1,800 per Month’

“APG’s vehicular conversion technology is generating customer validated net monthly fuel savings of $1,000 to $1,800 per month depending on the miles driven and cost of fuel,” Jensen said. “While each customer’s circumstance will differ, we believe that after lease related costs, a fleet owner can see his take-home income increase by $200 to $1,000 per month.

“We know of no other truck-related technology that can create that kind of incremental savings and income.”

“For more than 20 years, Vision Financial Group and our new VFG Energy division have been fueling American business growth by providing the necessary capital to invest in proven technologies across a wide variety of industries including alternative fuels,” VFG VP Bill Summers says in the ASPG announcement.

Approvals in as Little as 24 Hours

“We believe that natural gas, as an alternative transportation fuel, is the wave of the future,” he said, promising “multiple competitive financing solutions.”

Typical VFG transactions range between $50,000 and several million dollars, APG says, noting that “transactions under $100,000 are typically approved for funding within twenty-four hours of submittal,” with payment plans that enable customers to match payments to cash flows. VFG offers 100% financing for qualified customers, APG says.

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Source: American Power Group with Fleets & Fuels follow-up

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