Lease Purchase Financing for Fire Departments and Districts
At Baystone Financial Group, we specialize in lease purchase financing (LPF), allowing fire departments to efficiently purchase vital equipment with no large, up-front cash payments. LPF through Baystone can help fire departments pay for big-ticket items such as trucks and buildings, or it can be used to fund essential smaller purchases.
- Pumpers, tankers, aerials, and rescue trucks
- Station construction, remodeling, and additions
- Turnout gear, extrication tools, SCBAs, and loose equipment
- Compressor and cascade systems
- Administrative vehicles, quick-attack vehicles, and ambulances
- Rescue hovercraft and boats
- Thermal imaging cameras and communication equipment
Lease purchase financing allows fire departments to purchase property and equipment through installment lease payments, which can be made monthly, quarterly, semi-annually, or annually. As payments are made, the department — which maintains ownership of the equipment — builds equity in its investment.
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to download & view PDF files.
For municipalities, LPF is a year-to-year commitment to make lease payments, not a commitment to pay debt. Because LPF contains a non-appropriation or “funding-out clause,” in most states, no voter approval is necessary to enter into the agreement.
Combined purchasing is available for trucks, equipment, and stations, with 0% down financing available for new trucks, as well as 10% down financing for equipment and used trucks. And for purchases up to $500,000, you can take advantage of our Simple Funding Program for quick and easy credit approval.
You can make finance requests by phone, fax, e-mail, or our website — whatever is most convenient for you.
