Glossary of Terms
In a TRACLease — similar to a fair market value lease, but specifically used for titled vehicles financed through our Commercial Vehicle Group — both Marlin and the customer agree on a terminal value. At the end of the lease, the customer must pay this terminal value or return equipment to Marlin for us to resell. If the vehicle sells for less than the terminal value, the customer must make up the difference. If it sells for more, the customer is paid the upside, minus whatever it cost for Marlin to market and resell the vehicle.