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What is a TRAC Lease?
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| A TRAC lease transfers the residual risk to the client. If the client elects not to purchase the vehicle at the end of the lease, AgStar will arrange to sell the vehicle and the client is invoiced for the gain or the loss on the sale of the vehicle. |
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What if I need to terminate the lease before the contracted date?
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| If you choose to purchase the vehicle prior to the lease termination date you are charged an early termination fee plus the remaining book balance. If you surrendered the vehicle to AgStar we charge an early termination fee plus invoice you for the gain or loss on the sale of the vehicle. |
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What if I want to buy the vehicle when my lease is up?
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| At lease termination you have the option to purchase the vehicle for the residual amount, extend the lease or surrender the vehicle to AgStar. If the vehicle is surrendered to AgStar the vehicle will be sold and the gain or loss on the sale of the vehicle is passed back to the client. |
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What if I’m unhappy with the vehicle I’m leasing?
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| You can terminate the lease but you are responsible for the early termination fees, and the gain or loss on the sale of the vehicle. |
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Where do I pick up my vehicle?
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| The vehicles will be delivered to the nearest AgStar office or to a nearby dealer. |
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What are the insurance requirements when leasing?
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| The required insurance coverage is $300,000 combined single limit liability and a $1 million liability coverage if the gross farm income is greater than $500,000. In addition, collision and comprehensive coverage is required with a maximum of $1,000 deductible. |
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Will an accident “impact” my lease and its costs?
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| Accidents do not affect the lease rates. |
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What type of warranty is included when leasing?
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| The standard manufacturer’s warranty applies to leased vehicles. |
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What amounts are due when the vehicle is delivered?
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At time of delivery you will be invoiced for the following items:
- First Payment
- Sales Tax (Number of payments times 6.5% - for Minnesota residents; for those residents outside of MN, your state tax will apply)
- Documentation Preparation fee $125.00
- Original Registration and Licenses Expenses, either due at closing or invoiced following delivery
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What is E85?
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| E85 is composed of 85 percent ethyl alcohol (ethanol) and just 15 percent petroleum. E85 is designed for use in flexible fuel vehicles, often referred to as "FFVs." |
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What is a flexible fuel vehicle?
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| FFVs, may be fueled either with E85 and/or gas interchangeably. Most FFVs are still fueled with gasoline, but the availability of E85 and FFVs is expected to increase significantly in the nest few years. According to the Energy Information Administration, there are over four million light-duty flexible fuel vehicles (FFVs) in the United States. These are operated by private citizens as well as business and government fleets. FFVs are typically available as standard equipment with little or no incremental cost and becoming more common with each model year. |
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Where can I find E85 fuel?
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| A complete listing of E85 fueling stations in Minnesota can be found at many websites including cleanairchoice.org. When E85 is not available or when an FFV travels outside the fuel network, you can fuel your FFV with gasoline. For E85 fueling throughout the US, visit the National Ethanol Vehicle Coalition at www.e85fuel.com. |
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What are the benefits of E85?
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| E85 is easy to use and handle, reduces petroleum consumption and our dependence on foreign oil, and is good for the environment by reducing air pollution. |