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U.S. Postal Service Renting Vans

The Postal Service is looking to solicit federal contract bids to lease minivans and cargo vans to deliver the mail.
Budget problems at the US Postal Service are so severe, the agency is looking to rent mail delivery vans instead of buying new ones.

The familiar US mail trucks you see may soon be rentals.

The Postal Service is looking to solicit federal contract bids to lease minivans and cargo vans to deliver the mail.

The agency has said the cost of replacing 185,000 older mail cars and trucks could approach $6 billion.

So leasing has emerged as a short-term fix.

The financially-strapped agency is facing massive debt. In fact, last year the postal service twice defaulted on payments owed to the federal government.

It failed to make annual $5-billion mandated payments earmarked for retiree health benefits.
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