What is a FMV Lease?

A lease on any vehicle or equipment that provides no fixed purchase option at the end of the lease term, other than the Fair Market Value (FMV). Fair Market Value is the value of a piece of equipment if the equipment were to be sold in a transaction determined at arm’s length, between a willing buyer and a willing seller, for equivalent property and under similar terms and conditions. Ownership of the equipment is retained by Trans Lease. Mileage caps may apply.