All articles by MF Editorial

New “Logical” leasing service hits market

Brian Rogerson finds a new business – led by a familiar name – that is thriving amid economic turmoil It is some three months since Saul Parsonson launched Logical Vehicle Management (Logical) and already he is aiming to increase its staff complement to cope with new business leads As a fleet vehicle intermediary, Logical is specifically designed to offer a far wider range of services than that of most brokers in the company car sector

Light vans

The light van sector has great penetration with fleet operators and leasing companies and comes back to the used market in large numbers, with many variants, specifications and colours

Automotive Leasing wins council car fleet deal

The leasing company, a subsidiary brand of LeasePlan which specialises in public sector deals, won the tender – covered by the Government Procurement Agreement – on the basis of a decision-making process weighted 40 per cent on price, 30 per cent on “relevant experience and reputation”, 20 per cent on documentation and 10 per cent on financial and legal status.

On the move

LA Fitness steps up with contract purchase fleet from Lombard Vehicle Management

LA Fitness steps up with contract purchase fleet from Lombard Vehicle Management Fleet provider Lombard Vehicle Management (LVM) has created an individually tailored contract purchase package for staff at LA Fitness, a health club chain. The deal covers the 50 vehicles in the LA Fitness fleet, with contract purchase chosen over other alternatives because a finance lease cannot be provided with a maintenance contract, and contract purchase also reduces end-of-life risk, LVM said.

Chrysler Financial exits leasing in the US

Chrysler Financial exits leasing in the US Chrysler Financial, the leasing and financing arm of car manufacturing giant, said it is shutting down its auto-leasing business in the US from August 1. This comes in response to the plummeting resale values of gas-thirsty trucks and sport utility vehicles which have proved to have caused big losses for US automakers. Co-president at Chrysler, James Press, said the company will divert the money it had been spending on its leasing arm into more traditional financing offers

Black Horse report finds PoS finance under pressure

Black Horse report finds PoS finance under pressure A study of point-of-sale motor finance has found that it is at a crossroads, and the long-term future of the industry hangs in the balance. Penetration of PoS finance for new cars sold by franchised dealers has fallen from 52 per cent in 1997 to 40 per cent in 2007, while franchised dealers penetration rates for used car finance tumbled from 51 per cent to 36 per cent over the same period. Independent used car dealers have seen their finance deals go down from 38 per cent of used car sales to just 18 per cent during the same period, it found.

New senior appointment at Siemens Motor Contracts

New senior appointment at Siemens Motor Contracts Peter Austin, the manager of Siemens Financial Services (SFS) vendor finance division, has taken on the additional role of general manager at SFSs vehicle leasing division, Siemens Motor Contracts.

RBS’s insurance deal with captive extended

RBSs insurance deal with captive extended A majority – 53 per cent – of drivers polled in a survey carried out by car supermarket Motorpoint said they plan to purchase their next car using motor finance. The results support figures published by the Finance and Leasing Association, which claimed 49 per cent of all new private car sales are now funded by lending from motor dealers an increase of two percentage points on 2007

Tree-planting scheme bears fruit for Lloyds TSB Autolease

Tree-planting scheme bears fruit for Lloyds TSB Autolease Thanks to its partnership with the National Forest Company, over the past year the lessor Lloyds TSB Autolease (LTSBA) has supported the planting of nearly 58,000 trees in the National Forest as part of its carbon offset scheme.