Autocar
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Mehmi Financial Group helps businesses finance and lease Autocar equipment, including transportation equipment, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Autocar units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Autocar
Autocar's history began in 1897, when Louis Semple Clarke built Autocar No. 1, a one-cylinder gasoline tricycle now in the Smithsonian, according to Autocar. Autocar is described as the oldest surviving motor vehicle brand and today builds severe-duty vocational trucks.
Autocar trucks
Autocar is best known for the ACX (Xpeditor) cab-over refuse truck, along with terminal tractors and other vocational trucks used by waste haulers, municipalities and ports.
How lenders view Autocar trucks
Refuse trucks are financed as chassis plus body. Lenders review the truck's age, hours or mileage, the body and hydraulics, and the collection contracts behind it. Municipal and long-term private contracts strengthen the file.
Financing Autocar trucks
Waste haulers often finance several trucks for a new contract. Lenders review contracts, fleet financials and maintenance programs.
How Autocar equipment financing works
Most Autocar purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.
What lenders check on a Autocar transportation equipment
Lenders look at model year, odometer reading, engine and emissions history, and your driving or operating experience. Long-haul use is often reviewed more closely than local or vocational work.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and kilometres or miles, and financial statements or tax returns for larger amounts.
See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.
All Autocar models with financing pages
| Model | Type | Category |
|---|---|---|
| Autocar ACX | Equipment | Transportation |
Tax treatment of Autocar equipment
In Canada, trucks and tractors designed for hauling freight with a gross vehicle weight rating over 11,788 kg generally fall in CCA Class 16, while other trucks and vehicles generally fall in Class 10. Trailers have their own rules, so confirm the class with your accountant. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.
Frequently asked questions
Can I finance an Autocar ACX refuse truck?
Yes. Lenders review the chassis, body and your collection contracts.
Is Autocar the oldest vehicle brand?
Autocar is described as the oldest surviving motor vehicle brand, dating to 1897.
Can a waste hauler finance several Autocar trucks?
Yes. Lenders review contracts and fleet financials.
Can I finance a used Autocar?
Yes. Lenders review hours, mileage, body and hydraulics.
Can a municipality lease Autocar trucks?
Yes, through leases or loans depending on the lender.
Do collection contracts help?
Yes. Long-term contracts strengthen the application.
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