All articles by Fred Crawley
Fred Crawley
Editor’s letter: Market restructuring is not over
Just in case any of us were beginning to think the market had run out of surprises by now, the sudden departure of Fortis from dealer finance serves as a reminder that we are not in a stable situation yet.
Innervision signs logistics co TDG
Lease portfolio management specialist Innervision has secured a new contract with TDG, a European logistics and supply chain management company with annual turnover of more than £660m. Innervision is analysing TDGs UK lease agreements and is in dialogue with banks and lessors with a view to securing future facilities for vehicle leasing
Managing end-of-lease disputes
As just about anyone on the collections end of a leasing business will know, good customer contact through the length of an agreement is vital to avoiding headaches at the end of term.
Brokers back plans for new trade association
Fred Crawley reports from a lively get together of retail motor finance brokers at the Frontline Solutions Broker Conference. A new trade association could soon be set up to represent brokers in the business of retail motor finance The idea was proposed by Richard Hoggart of broker DSG Financial Services, in his opening address to a broker conference held last month by software provider Frontline Solutions.
Fortis exits retail market
Fortis Lease is to exit the retail motor finance market in the UK, in a move that could give new funders the opportunity for a market entry by acquiring its book. A BNP Paribas Lease Group spokeswoman said: The decision has been made by BNP Paribas Lease Group that the business conducted by Fortis Lease UK was not core to the strategic objectives of BNP Paribas Lease Group
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Black Horse maps its future
Black Horse managing director Chris Sutton, tells Fred Crawley why the dealer finance giant is on course to lend £3bn this year, even though 2010 may be a bumpy ride along the way. Following surprisingly robust results from Black Horses parent, Lloyds Banking Group (LBG), the dealer finance giant has found itself in a strong mid-year position. Impairment and bad debt levels are ebbing faster than expected after peaking in mid-2009, and first-half profit for 2010 at LBGs asset finance division, comprising Black Horse and Lex Autolease, is £105m
Subprime market offers potential for growth
While subprime motor finance remains risky, Duncton has aggressive growth plans Evidence has emerged that lending in the subprime motor finance market is getting back on its feet again after two years of being battered by the banking crisis.
Sea change as brokers drift towards asset finance
Last months NACFB Expo was a roaring success, with record numbers attending Also impressive was the number of mortgage and ID brokers looking to enter the market
Battery battle heats up
The decision by the two arms of the Renault-Nissan alliance to go their separate ways over battery supply for their electric vehicles illuminates consumer concerns, reports Fred Crawley. First came Nissans announcement in May that the battery leasing scheme for its upcoming Leaf electric car was to be scrapped; closely followed by Renault confirming it would keep just such a scheme for its own ZE electric vehicle range.
Ferrari Financial Services revs up
Ferrari Financial Services has launched a business in the UK and begun forging links with franchised dealerships, Motor Finance has learned.