Fleet master lease lessor

The Ohio Indefinite Delivery Vehicle (IDV) OT902321 is a statewide fleet master lease program administered by the Department of Administrative Services (DAS) for motor vehicle financing. This competitive selection contract enables Ohio state agencies to lease finance various motor vehicles through a structured financing mechanism. The contract supports vehicle acquisitions across state agencies, with flexible lease terms ranging from three to seven years and covering approximately 370 vehicles annually. The procurement vehicle is designed to provide a standardized approach to fleet vehicle leasing, with a pricing structure that includes a state interest rate calculation based on the contractor's cost of capital and a fixed credit spread.

Huntington Public Capital Corporation is the prime contractor for this IDV, with a contract period from January 1, 2025, to December 31, 2026. The contract covers the entire state of Ohio and is a mandatory use agreement for the Office of Fleet Management. While there is no guaranteed purchase volume, agencies can acquire vehicles as needed, with an estimated total acquisition amount of $9.4 million for State Fiscal Year 2021. The contract includes provisions for quarterly payments, no prepayment penalties, and allows agencies to manage insurance independently. The IDV can be renewed, with a potential cumulative renewal period not exceeding sixty months unless additional extension is deemed necessary by the Contracting Agency.