Before the beginning of every school year, school districts analyze their annual budgets, review their routes and determine how large (or small) their school bus fleet needs to be for the coming year. Although some school districts have the benefit of updating their fleet with multiple newer school buses, many districts rely on the purchase of one or two new school buses a year.
On the flip side, when school bus contractors go through similar motions, the addition of a new school contract can send any contractor, large or small, into a scramble to bolster their fleet quickly. To meet customer demand, contractors are relying more and more on financing to expand their fleet while keeping their cash flow freed up for other expenses. To them, financing isn’t just a way to get by, it’s a strategic business decision that allows them to expand their businesses easily, minimize costs and meet customers’ needs.
Financing Keeps a Family Legacy Alive
Rill’s Bus Service in Westminster, Maryland, has been in business for more than 50 years. Even as a thriving school bus contractor, the company is still very much a family business, with four generations working under the same roof. In 1968, Rill’s Bus Service began with one school bus. Today, it operates 41 Thomas Built Buses and utilizes financing options to keep the business thriving.
Like many contractors, Rill’s works with Daimler Truck Financial to create customized financing packages that work for their business. For Rill’s, a variety of packages and options is what best suits their business needs, including but not limited to, skip payments to handle seasonality, custom payment plans and even customized TRAC-leases.
“We used to go through local banks. But that required deposits on our buses, which was difficult because of the way that we are paid through our county,” said Dianne Grote, operations manager of Rill’s Bus Service. “Daimler Truck Financial provides customized financing options that always works best for us and our business.”
“We love working with school districts and contractors like Rill’s Bus Service,” said Dave McAvoy, district finance manager, southeast, for Daimler Truck Financial. “Our job is to be an extension of any school bus fleet, a resource for fleet managers and contractors alike so that they have the purchasing power to expand their fleet as needed. And in this industry, the best way to do that is through unique financing options that work for our customers. It isn’t about cookie-cutter financing rates and rigid terms. It’s about finding solutions together so we can get more children riding to school in the safety of a school bus.”
View Rill’s Bus Service’s full story here.
To learn more about financing for upcoming school bus purchases, contact your nearest Thomas Built dealer or visit Daimler Truck Financial.
Daimler Truck Financial is dedicated to the school bus market and has regional experts located throughout the United States to serve customers personally. Their bus financing experts work in a consultative and collaborative manner with customers and Thomas Built dealers to provide competitive, cost-effective finance programs like tax-exempt municipal financing1.
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