New Equipment Leasing Options for CITGO Fast Lubes
Nov 10, 2001
TCF Express Leasing is an affiliate of TCF Leasing, Inc., a wholly owned leasing and equipment finance subsidiary of TCF Financial Corporation (NYSE: TCB), an $11.8 billion national bank holding company.
""For most fast lube operators, leasing is the best way to keep up with ever-changing equipment advancements, avoid technology obsolescence and conserve cash,"" says Paul McCusker, product manager of Automotive Lubricants/Installed Programs for CITGO. ""We designated TCF Express Leasing as a Preferred Partner because they offer the experience, responsiveness, stability and financial strength needed to help our valued CITGO-branded fast lube operators succeed in today's competitive marketplace.""
TCF Express Leasing, an experienced leasing provider for the automobile industry, custom-tailors leasing packages to cover such items as P.O.S. systems, vehicle lubrication equipment, petroleum dispensers, car washes, monitoring equipment and signage.
Partnering with TCF Express Leasing provides several advantages for CITGO fast lube operators:
*The ability to upgrade or add on equipment at anytime
*Tax deductible lease payments depending on lease structure
*Direct funding source- the lease remains with TCF Express Leasing
*Equipment specific finance programs
*Minimal upfront cash requirements
*100 percent financing for equipment, services and installation
*Easy one-page application
CITGO is a preferred provider in the fast lube industry. The company continually strives to provide a better-than-franchise quality program without the associated franchise costs. This is done by promoting superior business practices and supporting marketers with the business tools, flexibility and brand value ? through products such as CITGO SUPERGARD? motor oil ? to create long-term, profitable and successful businesses. In fact, a 2001 survey by National Oil and Lube News ranked CITGO among the Top Ten largest fast lube chains in the United States.
CITGO Petroleum Corporation, based in Tulsa, Oklahoma, is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals, refined waxes, asphalt and other industrial products. It is owned by PDV America, Inc., an indirect wholly owned susidiary of Petroleos de Venezuela, S.A., the national oil company of the Republic of Venezuela."