All articles by Grant Collinson
Grant Collinson
Treasury scheme may include car finance
Speaking alongside the Governor of the Bank of England, Sir Mervyn King, Osborne announced a further credit scheme in reaction to the continuing European debt storm at the annual Lord Mayors Mansion House dinner on 14 June. A spokesperson for the Treasury told sister-publication Leasing Life while details of scheme were yet to finalised, the programme would be open to all kinds of lending to the real economy so long as the discount is passed on to businesses.
Fleet Friday: Fraikin, Ryder, Barclays & more
European truck lessor Fraikin has secured funding for its UK, French and Spanish fleet businesses for the next five years through a maximum 1bn securitisation. The pan-European securitisation, arranged by Crdit Agricole CIB, with Natixis as co-lead arranger, is backed by long-term lease receivables and the related trucks residual value in a fleet of 49,000 across the three European countries, managed by Fraikin
Fleet Friday: HGVs, fuel savings, BCA and pizza
Fleet management and leasing firms Zenith and Contract Vehicles Limited (CVL) have teamed up to provide an integrated HGV management product for its fleet customers. As part of the deal, CVL, which manages a 12,000-strong fleet of commercial vehicles, will provide its HGV services for Zeniths corporate customer roster, complimenting Zeniths existing company car and commercial vehicle offering.
Fleet Friday: Athlon car share, Lex partnership
Fleet lessor Athlon Car Lease has signed a partnership with car share company SnappCar in the two companies home nation of the Netherlands. Through the deal, Athlon will give its customers the option to rent out their leased vehicles to private individuals via SnappCars online market place.
Ampera helps Hertz to EV ‘revolution’
That was the announcement made by Michel Taride, executive vice president of Hertz Corporation as the global vehicle rental firm formally announced the addition of the Vauxhall Ampera to its fleet of car-share electric vehicles (EV). Speaking at an event in London, which also launched a partnership between Hertz and Transport for London (TfL) charge point provider Source London, Taride said smarter and faster vehicles, a clear standard in charge points and in-car technology have made it possible for a new transportation.
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Creditplus launches assessment tool for consumers
Motor finance broker Creditplus has launched an online credit-rating tool to help consumers assess the likely level of their credit rating. The tool involves 15 simple questions after which the consumer can get a free assessment of their rating low, fair, good or excellent without entering personal details or having their credit file checked. Creditplus created the rating guide to help people who are unaware of their credit rating, or what issues affect it, a position that can mean consumers often dont know if they are getting a fair credit deal, said Shaun Armstrong, managing director of Creditplus
HML backs up MotoNovo Finance
MotoNovo Finance has appointed portfolio management firm HML as back-up servicer for the securitisation of a £314m portfolio of hire purchase car loans. The Turbo Finance 2 Plc Portfolio securitisation was successfully launched by the FirstRand Bank subsidiary at the end of last month and HMLs participation will provide additional security for investors. HML, a subsidiary of Skipton Building Society that specialises in mortgage portfolios, announced its intention to enter the motor finance market late last year.
Alphabet and BMW launch new car share scheme
Fleet lessor Alphabet has launched a new type of corporate car-sharing scheme in the UK, designed to cut the cost of pool car fleets. The BMW-owned companys AlphaCity product offers a fleet of cars on a contract hire lease which can then be sub-let to employees for private use. AlphaCity was launched last month in Germany and piloted in France in 2010 in conjunction with Accenture, one of Alphabets clients, as a real alternative to grey fleets, according to Kit Wisdom, mobility solutions manager for Alphabet GB.
Fleet Friday: Ryder, Asset Alliance, Citroën
Commercial vehicle hire company Ryder has announced a £25m upgrade of its rental fleet in the UK, fleet lessor Asset Alliance has received a £25m funding injection and Citron has signed a contract hire deal .
Investec enters UK prestige car market
Investec Bank subsidiary Investec Asset Finance is set to enter the prestige car market, offering finance to individuals and businesses in exclusive partnership with broker London Asset Finance. Investec believes the new venture, which follows the likes of ING Lease and Lombard into the high-end vehicle segment, has significant growth potential in a sector that has seen a general contraction in participating lenders The company will take on business through London Asset Finances dealer contacts, although it is not yet known how many other brokers will be invited to pass on deals to the lender