Why use your existing bank lines to acquire vehicles? Consider our Commercial Line of Credit (CLOC).*
The convenience of credit
Open a CLOC and you’ll get the advantage of:
- Flexible terms
- No setup or nonutilization charges
- Available for retail financing, Red Carpet Lease and CommerciaLease
- Credit that frees up capital
- Availability of a combined billing statement
With our CLOC program, you can apply for a credit line starting at $250,000 and, once approved, you can add vehicles to your fleet whenever you need to, for up to 12 months.** Now you can be covered all year for all of your financing or leasing needs. No need to reapply every time you need a vehicle.
How to obtain
Complete the General Information Request Form, then visit your Dealer to complete a Business Credit Application and submit the forms.
Our knowledgeable commercial representatives are ready to assist you. As an added convenience, we can even come to your place of business.
*Subject to initial approval, ongoing eligibility, periodic reviews and Ford Credit normal lending criteria. Not all customers will qualify. See your Dealer for qualification details. Standard Retail and Lease customer and vehicle eligibility requirements apply. All program terms are subject to be changed, modified or removed at Ford Credit’s sole discretion.
**Provided no material change in financial condition – initial approval is for up to 12 months.
If the freedom of no wear and tear and KM restrictions is appealing to you, consider our finance option for your commercial vehicle. We offer up to 60-month terms and all HST is claimed up front. Something to note is that this will show as a depreciating asset.
Just as the name says, this option is open-ended and allows for a great amount of freedom for your business vehicle needs. This lease choice has a term of up to 60 months with a residual as low as 1% and offers no restrictions on KMs or wear and tear. HST will be claimed monthly and can have the up-fitting, warranty and maintenance included.
A closed-ended lease allows for a term up to 48 months. However, as the customer you will be responsible for any excess kilometres and wear and tear. Like the open- ended lease, HST will be claimed on a monthly basis.