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Priority One Introduces Financing Program for XL Hybrids

January 13, 2015, 06:51 AM
Filed Under: Vendor Finance News

Priority One Financial Services, Inc., a commercial and recreational equipment finance provider and wholly-owned subsidiary of Forest River, Inc., introduces special financing options on XL Hybrids, Inc., the pioneering developer of hybrid electric powertrain technology for commercial and municipal fleets. The new financing allows XL Hybrids’ customers to retrofit current fleet vehicles and pay for the hybrid system over time. Customers can also refinance their existing vehicles or order new vans and buses with the XL3 Hybrid Electric Drive System.

“For individual operators and fleet managers considering the benefits of XL Hybrid’s electric powertrain technology, our competitive lease and finance options help make the conversion and cost that much simpler to budget.” said Jared Zimlin, business development director at Priority One Financial Services. “Now meeting state and federal mandates, while going ‘green’ with the XL3 Hybrid Electric Drive System, is simple and affordable to adopt.”

The new XL Hybrids financing through Priority One Financial Services is ideal for mid-sized and smaller fleets, providing:  Easy one-page application process and options to upfit new vans or buses or retrofit current fleet vehicles

“Our XL3 is already the lowest priced, highest quality hybrid electric solution available for class 2-4 vehicles,” said Tod Hynes, president and founder of XL Hybrids. “This new financing removes the upfront cost barrier and enables customers to immediately start reducing fuel use and CO2 emissions by 20% and meet sustainability targets.”

Vehicles equipped with the XL3 hybrid system drive just like other fleet units with no driver training required. The charge sustaining powertrain technology reduces operating and maintenance costs without the need for plugs, or special fueling infrastructure.

The XL3 Hybrid Electric Drive saves fuel through regenerative braking, a process by which the electric motor helps slow the vehicle when the driver brakes, charging the battery. When the driver accelerates, the battery releases the energy to the electric motor, helping propel the vehicle.

Priority One Financial Services has been offering competitive financing options since 1987 and currently serving the bus, trailer, marine and RV industry. Acquired in 2007 by Forest River, Inc. a Berkshire Hathaway company, Priority One serves as the F&I managed services provider for hundreds of dealers nationwide.

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