Commercial Vehicle Lease

We provide flexibility for your fleet business. We will recommend auto lease terms that are optimal to the unique use and operating conditions of your fleet application.

We lease vehicles of all makes and models, new and used, equipped for your field workers or executives, anywhere in Canada and the continental US.

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Lease structuring options

Lease Type

Open-end lease: Flexibility and control

  • Lease may be terminated at any point
  • If there is a gain on sale you will be reimbursed
  • If there is a loss on sale you have to cover the difference
  • No mileage restrictions

Close-end lease: Predictable outcome

  • Residual value is set by Summit
  • Mileage and wear are restricted
  • Early termination charges and terms may apply
  • The risk of gain or loss on sale is borne by Summit, no residual risk to you

Base Funding Type

Fixed interest rate

For predictable monthly payments and easy financial projections on lease costs and budgeting.

Floating interest rate

For potential financing costs savings and cash flow improvement strategies.

Lease Calculation Type

Level payment

The same depreciation rate is applied throughout the life of the lease. For consistent monthly payment amounts that allow you to easily make financial projections and budget.

Monthly step-down payment

As the lease progresses, the depreciation rate lowers on a monthly basis. The closer to the end of the lease the lesser the payment amount. Used for aggressive cash flow improvement strategies.

Annual step-down payment

As the lease progresses, the depreciation rate lowers on a monthly basis. The closer to the end of the lease the lesser the payment amount. User for moderate cash flow improvement strategies.

Replacing your vehicle fleet

A successful vehicle replacement policy is determining how long is too long to keep a vehicle.

Each vehicle has a service life that amounts to the time a vehicle is capable of rendering service. Productivity declines and maintenance costs increase as vehicles age, which is why Summit Fleet will ensure you apply a sound and tailored Replacement Policy so your fleet is managed to the optimal service life timelines for the most cost-efficient, productive fleet for your operation.

Our unique remarketing advantage

Summit Fleet looks to all markets for the best offers on your fleet. This includes public auctions, local auctions, Kaizen Auto Group, retail markets, independent remarketing companies, and the U.S. market. We work with all of them, and depending on vehicle type, age, condition, location, and market conditions in different regions we determine the best time and location to sell.

We are willing to do the leg work so you get the financial benefit of a great offer!


Keeping track of your fleet's KPI's and costs is a key factor in successful fleet management. Summit Fleet provides standard reporting to analyze and make decisions on your vehicle fleet.

We are also happy to provide custom reporting to fulfill your analysis and business intelligence goals. Contact us for more information on this service.

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