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newsrel -- ARB Offers New Financing Option for Leasing Trucks

Posted: 06 Mar 2012 14:40:01
Helps small businesses upgrade diesels for cleaner California

Release #:12-08

ARB PIO: (916) 322-2990

Cassandra Hockenson

ARB Offers New Financing Option for Leasing Trucks

Helps small businesses upgrade diesels for cleaner California

SACRAMENTO - The California Air Resources Board is now offering a
lease-to-own financing opportunity that encourages small business
owners to replace their older diesel trucks with clean new

The objective of this program is to encourage early compliance
with ARB’s on-road diesel vehicle and tractor-trailer greenhouse
gas regulations.

“This is a program that benefits small fleets and
owner-operators,” said ARB Chairman Mary D. Nichols. “It provides
them with an additional way to pay for a cleaner truck, even if
their credit isn’t stellar.”

Leases are widely used in the trucking industry for managing cash
flow.  They combine the tax advantages of leasing while retaining
the option to purchase the leased equipment in the future. This
is an attractive alternative for smaller owner-operators who may
not meet today’s stringent borrowing standards to comply with
diesel truck and bus regulations and help meet California’s
clean-air and health goals.

“Making upgrades easier to obtain and more convenient is
essential to successfully implementing California’s clean air
standards,” said State Treasurer Bill Lockyer, Chair of the
California Pollution Control Financing Authority.  “This program
does that and gives truckers more choice in financing their

Prior to adding this option, there have already been 1079 loans
issued to purchase diesel equipment for a total of $66.3 million
in financing by participating lenders to get cleaner trucks on
the road.

Diesel exhaust contains a variety of harmful gases and over 40
other known cancer-causing compounds. California identified
diesel particulate matter as a toxic air contaminant based on its
potential to cause cancer, premature death and other health
problems. ARB’s truck and bus regulation is designed to
substantially reduce these dangerous emissions.

 For eligibility determination and an updated list of
participating financial institutions go to
www.treasurer.ca.gov/cpcfa/calcap/contributor/lenders.pdf.  For
additional information go to 
http://www.treasurer.ca.gov/cpcfa/calcap.asp or call
1-866-6DIESEL or email at 8666DIESEL@arb.ca.gov

ARB's mission is to promote and protect public health, welfare,
and ecological resources through effective reduction of air
pollutants while recognizing and considering effects on the
economy. The ARB oversees all air pollution control efforts in
California to attain and maintain health based air quality

Office of Communications 1001 I Street, Sacramento CA 95814. Ph:
(916) 322-2990

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