East Orange BOE Lease Purchase -Due 2-5-2026

The East Orange Board of Education is seeking a qualified financial institution to provide lease‑purchase financing for a single Ford Transit passenger van. The solicitation covers only the financing of a $52,340 principal (vehicle price $57,340 less a $5,000 deposit) over a five‑year term with an indexed interest rate. Bidders must submit a complete bid package including interest‑rate bid, amortization schedule, escrow cost disclosure, and extensive compliance documentation. The award will result in an annual payment of roughly $12,438.84 to the financier, with the first payment due February 1 2027. • Scope: 5‑year lease‑purchase loan for one vehicle (Ford Transit 350 XL). • Financial terms: $52,340 financed, indexed interest rate (sample 4.5%), annual equal payments. • Mandatory documentation: interest‑rate bid, amortization schedule, escrow cost, pre‑payment option, 14+ compliance forms (AA, debarment, political contributions, etc.). • Timeline: Questions due Feb 2 2026, bid deadline Feb 5 2026 (11 a.m.), rate hold 30 days, funding expected around June 1 2026, first payment Feb 1 2027.