THE NUMBER 1 RESOURCE FOR VOCATIONAL TRUCK FLEETS
GE announced that it has reached an agreement to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO).
Determining the acquisition strategy that works best for individual company fleets is a daunting process. Industry experts pose and answer questions to help fleet managers make this important decision.
Fleet managers are manufacturers of used vehicles. Many of the buyers of used fleet vehicles are C and D paper buyers. One unintended consequence to companies extending the service lives of fleet vehicles is that it is more difficult for used-vehicle dealers to finance C and D paper buyers in the secondary funding market. The issue, from the perspective of the finance company, is the remaining life of higher-mileage vehicles.
Rather than simply defer replacement purchases to meet short-term budget-balancing goals, fleet managers should use today’s fiscal challenges to reappraise their organization’s approach to fleet replacement.
In this new economy, banks and lessors want more assurances than ever that your business is healthy. Having an answer to these questions will help keep your credit lines safe.
October was an extremely difficult month to remarket vehicles in the wholesale market as resale prices took a precipitous drop. Wholesale pricing, based on mixed mileage and seasonally adjusted, declined a record 6 percent in October. The lack of credit to both dealers and retail buyers has been the key catalyst contributing to the downturn in the wholesale market. The market forecast is gloomy until the credit gridlock is resolved.
Deciding whether to lease or own company-provided vehicles can seem a daunting task. Knowing the basic concepts helps.