Minnesota Private-Sector Program to Encourage Flex-Fuel Vehicle Leasing
24 January 2006
A joint program between the Minnesota Corn Growers, AgStar Financial Services, and the National Ethanol Vehicle Coalition is designed to promote leasing of flexible-fuel vehicles that can burn gasoline or ethanol blends of up to 85% (E85).
The “Flex for the Future” program offers a set of 3- and 5-year TRAC leases on seven specific models, which are available at attractive lease rates and residual values (subsidized by AgStar), and which carry no mileage restrictions.
(A TRAC lease transfers the residual risk to the client. If the client elects not to purchase the vehicle at the end of the lease, AgStar will arrange to sell the vehicle and the client is invoiced for the gain or the loss on the sale of the vehicle.)
The leases on E85-ready trucks, sedans and vans are open to the 17,000 drivers who are Minnesota Corn Growers Association (MCGA) members or AgStar stockholders. Although exceptions may apply, virtually anyone joining MCGA (three-year membership for $200) is eligible for the program.
Among the organizations supporting the program is the American Lung Association of Minnesota (ALAMN).
Models included in the program are:
Chevy Silverado Extended and Crew Cab FFV pickups
Ford F150 SuperCab and SuperCrew FFV pickups
Dodge Caravan SE FFV minivan
Chevy Impala LT FFV sedan
Dodge Stratus SXT FFV sedan
Participants in Flex for the Future get the added incentives of a $500 debit card for E85 fuel and a one-year membership in the National Ethanol Vehicle Coalition.
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