All articles by MF Editorial
MF Editorial
Mercedes-Benz Bank offering over ?2.5bn to UK captive
Mercedes-Benz Bank will provide over 2.5 billion for Daimler’s leasing and financing activities in the UK, it has been reported.
FLA: Motor finance feels the squeeze in January
The fall in car sales volumes in January has had a knock-on effect on volumes of motor finance, the Finance & Leasing Association (FLA) reported.
New non-prime motor lender Moneyway is launched
A new player has entered the non-prime point-of-sale motor finance market. Moneyway is already operational, and started lending to dealers on February 3 – even though the decision to set up a motor finance company focusing on non-prime and near-prime customers was only made in November, said CEO Gary Jennison.
50 per cent LeasePlan stake to be bought by VW
The owner of half of international fleet management and leasing company LeasePlan is looking to buy out its partners.
BVRLA joins Leaseurope
The BVRLA has joined Brussels-based Leaseurope as a new member. The trade association for the vehicle rental and leasing industry in the UK said the new membership will help protect the interests of UK rental and leasing businesses at EU level.
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1car1 goes into administration
UK car and van hire business 1car1 has gone into administration, leaving 200 people without a job, and another 600 at risk.
Availability of finance to worsen, says CBI
UK businesses believe that the credit crunch is going to get worse, with accessing finance to become even more difficult in the next quarter, according to a survey of companies borrowing published today (February 9).
Arval cuts 80 UK jobs
BNP Paribas Lease Group subsidiary Arval intends to cut up to 80 jobs in the UK starting from the end of January, according to a statement released today.
Toyota Financial Services seeks state loan from Japan Bank
Toyota’s captive finance arm has applied for a JPY200 billion (£1.4 billion) loan from a bank backed by the Japanese government.
Arval reports “above-market performance”
Fleet lessor Arval saw its international fleet grow by 12 percent in 2008, achieving what it calls an “above-market performance”.