Vicinity Motor
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Mehmi Financial Group helps businesses finance and lease Vicinity Motor 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 Vicinity Motor units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Vicinity Motor
Vicinity Motor Corp., a Canadian electric bus and truck maker, was placed into receivership in November 2024 after failing to repay its loans, as reported by Electric Autonomy.
Vicinity Motor equipment
Vicinity mid-size buses and light trucks are still operated by transit agencies, shuttle services and fleets.
What lenders look at
With the maker in receivership, lenders look closely at parts and service support, unit condition and remaining battery health.
Financing Vicinity Motor equipment
Used Vicinity units are financed case by case; expect more scrutiny than for brands with active dealer networks.
How Vicinity Motor equipment financing works
Most Vicinity Motor 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 Vicinity Motor 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 Vicinity Motor models with financing pages
| Model | Type | Category |
|---|---|---|
| Vicinity Motor Corp | Equipment | Transportation |
| Vicinity Motor Corp Lightning | Equipment | Transportation |
| Vicinity Motor Corp VMC 1200 | Equipment | Transportation |
Tax treatment of Vicinity Motor 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.
End-of-term options on a Vicinity Motor lease
A $1 buyout lease is built for ownership: you keep the machine for a nominal amount at the end. A fair market value lease usually has a lower payment, and at the end you can buy the equipment at its market value, return it or upgrade. Read the return conditions, such as hour limits and wear standards, before you sign.
Who finances Vicinity Motor equipment
Transportation: owner-operators, long-haul and regional carriers, vocational fleets, construction haulers, logistics companies and municipal fleets finance Vicinity Motor equipment to take on new work, replace aging units or add capacity.
The right structure depends on how the equipment earns money. A machine tied to a long contract can support a longer term, while seasonal work may call for skip or seasonal payments that some lenders offer.
Questions to ask the dealer or seller before you finance
- What is the exact model year, serial number and kilometres or miles?
- Is there a service history or recent inspection report?
- Is any warranty or extended coverage included, and does it transfer?
- Are attachments, delivery, installation and taxes itemized on the quote?
- For a private sale, is the equipment free of liens, and who will provide the bill of sale?
Insurance on financed Vicinity Motor equipment
Lenders and lessors require the equipment to be insured for its replacement or financed value, with the lender named as loss payee, before funding. Some also ask for liability coverage. Getting an insurance quote early avoids last-minute delays.
Frequently asked questions
Can I finance a used Vicinity bus?
Some lenders will, case by case.
Is Vicinity Motor still operating?
It entered receivership in November 2024.
Why do lenders care about receivership?
It affects parts, warranty and resale value.
Is battery health reviewed?
Yes, for electric units.
Can a shuttle operator finance Vicinity units?
Possibly, with a strong file.
Are other bus brands easier to finance?
Often, yes.
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