Daimler Truck Financial, the financial arm of Daimler Trucks North America, announced it will begin offering pay-as-you-drive financing on Freightliner Cascadias spec’d with Detroit engines beginning in early 2020. The new Dynamic Lease program uses embedded telematics data from the Detroit Connect platform to track truck mileage and allow truck operators to align truck lease rates to actual utilization.
“We worked to develop a product that allows customer to personalize truck financing based on utilization,” said Roger Nielsen. “It is the future of truck financing that allows customers to better manage cashflow and their businesses.”
Tobias Waldeck, head of DTF, said the Dynamic Lease program is based on standard 48- to 60-month lease programs and consists of a minimum monthly base payment as well as a variable payment based on miles driven. The program will be available exclusively to U.S. customers at launch, but DTF said it plans to roll it out to Canadian customers at a later date.