Telematics-Driven Truck Leases Allow Payments Based on Mileage

Daimler Truck Financial has introduced a pay-as-you-drive lease financing solution that uses telematics to track vehicle mileage and allow payments to vary based on how much the truck is actually working, an approach that Daimler Trucks North America says is a first in the industry.

The new Dynamic Lease uses the embedded Detroit Connect Platform and debuts on the Freightliner Cascadia spec’d with Detroit engines. It will be released late in the first quarter of 2010, and will help customers better manage cash flow by aligning billable miles to the lease payment.