Transportation Services Co. (TSC) has launched a new program that it says will provide capital to help school districts and contractors replace aging vehicles.

TSC is a fleet management services company that works with public, private, and not-for-profit fleet organizations.

The new nationwide program provides capital to school districts and transportation providers to combat growing vehicle replacement backlogs that are plaguing school bus fleets, according to TSC. The company can purchase select vehicles or the entire aging fleet and then lease school districts and transportation contractors a fleet of new vehicles.

“So many districts and contractors struggle with how to get out from under these old vehicles, but can now benefit from our economies of scale in terms of vehicle pricing within our new leasing program,” said Tod Eskra, president of TSC. “Districts and contractors can now utilize our access to capital to address their dire need to modernize their fleet.”

The program has an initial $50 million for the bus buybacks and the replacement buses. According to TSC, the new vehicles will lower the average age of fleets; replace vehicles that are in poor condition and have exceeded or are approaching their useful life; reduce total cost of ownership; reduce overall maintenance costs; and improve efficiency, accessibility, and reliability of transportation.

“This is a great opportunity for cash-flow-focused contractors and budget-restricted school districts to utilize leasing and financing solutions that can be customized to fit their student transportation program’s unique needs and circumstances,” Eskra added.

TSC is a member of the TransPar Group of Companies, along with TransPar and School Bus Consultants.