All articles by MF Editorial
MF Editorial
New motor finance division launched
New motor finance division launched Fortis Lease UK, part of the Fortis banking group, has established Fortis Vehicle Finance, one of four divisions within the lessors UK operations. This new business includes the companys vehicle finance-related activities, including retail motor point-of-sale finance, dealer vehicle stocking finance and fleet funding.
Zenith Vehicle Contracts buys Provecta
Independent vehicle leasing company Zenith Vehicle Contracts has bought employee car ownership specialist Provecta for an undisclosed sum The deal means that Yorkshire-based Zenith is now the UKs largest independent leasing, fleet management and vehicle outsourcing business in the UK with a combined fleet of some 26,000 vehicles, Zenith said. The tie-up also gives the Northern lessor a base in the South of England, as Provecta is headquartered in Reading.
Lessor builds on past success to land two fleet deals
Lex has landed two large fleet deals involving over 2,000 vehicles from the newly formed homebuilding giant, Taylor Wimpey Lex will manage Taylor Wimpeys fleet of 1,650 cars and vans The lessor also won a deal to undertake a sale-and-leaseback of a fleet of 700 vehicles originally held by George Wimpey prior to the merger of Taylor Woodrow plc and George Wimpey plc.
Lex scores two fleet deals from Taylor Wimpey
Lex has landed two large fleet deals involving over 2,000 vehicles from the newly formed homebuilding giant, Taylor Wimpey. Lex will manage Taylor Wimpeys fleet of 1,650 cars and vans as well as a sale and leaseback of a fleet of 700 vehicles originally held by George Wimpey prior to the merger of Taylor Woodrow Plc and George Wimpey Plc.
Inchcape Fleet Solutions’ 2007 profits fall
The 2007 results for retailer Inchcape show that like-for-like trading profits at its fleet management and leasing unit, Inchcape Fleet Solutions, fell by £0.8m.
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Investment boosts software house Frontline Solutions
Capricorn Ventures International, an investment group, has acquired what is described as a significant financial stake in software house Frontline Solutions in order to take the company to its next stage of business development and expansion, Frontline said.
Are employees profiting from business mileage allowances?
A survey by consultancy group Fleet Audits has found that many employees make a profit out of business mileage – despite recent claims to the contrary.
First UK securitisation for Volkswagen
Volkswagen is to issue its first UK securitisation, in the form of asset-backed floating rate notes to the value of £460m.
Systems for success?
Selecting a software system – either an upgrade or a brand new implementation – is a major challenge for a motor lessor, lender or broker, Brian Rogerson finds Automotive financiers, be they fleet or retail lenders or brokers, seek a common aim from their software systems. This is to achieve as speedy a return on investment as possible together with a visible fast-track on new business levels.
Telematics system helps recovery
Telematics system helps recovery A stolen vehicle has been recovered by police – largely thanks to the telematics system fitted by leasing and fleet management company ALD Automotive