If you told me on Tuesday, that over 87 people would read our blog in two days, I would have said you must be joking !
Apparently that is true, so I must be doing something right for a change.
You know that something big is on the horizon when the Fed makes only its second large cut in 20 years, and Mervyn King, attending a CBI dinner is live on BBC 24 news. You normally only see a 30 second shot of him when rates are changing.
Speaking to a number of friends within the industry, ( after 30 years in the leasing market I have a few !!) they are of the same opinion that this year suppliers will find it tough, and underwriting will be harder.
But this is far from gloom. Everytime this has occured in the past, 1989-1990, 1979-1980, leasing has always grown. Why you ask? well the answer is very simple, with banks not lending as much, and with higher deposits, and guarantees, and fees etc, customers will gravitate to who ever the supplier recomends when selling the equipment. Whilst I would like you to always use Oak, there are others out in the market place !!
By leading with a rental figure, not only helps you overcome the cost objection, but will overcome bank interference, which always slows a deal down, and you can close the deal quicker.
So in the words of that well known song from Life of Brian,
always look on the bright side of life
Comments will be most welcome, so please feel free to add whatever you like.
Thursday, 24 January 2008
Tuesday, 22 January 2008
Well at long last , and after many people asking for an oak lease blog, here it is.
I thought January is always a good time to start something new, but to start on the first is a bit too organised.
I think that many people are now saying the "R" word instead of skirting around it. In the leasing world, it started back in August when a funder suddenly closed it doors to new business.
A year ago, people thought credit crunch was some new and expensive chocolate bar!! Well they are not wrong. The speed in which it has hit business's has alarmed people, but the signs were there over a year ago.
So how does all this affect leasing? , well funders will and have tightened up credit acceptances, and banks are being more careful in their lending. Thats enough info to start with, I will be back with more insights into the leasing world later on in the week
I thought January is always a good time to start something new, but to start on the first is a bit too organised.
I think that many people are now saying the "R" word instead of skirting around it. In the leasing world, it started back in August when a funder suddenly closed it doors to new business.
A year ago, people thought credit crunch was some new and expensive chocolate bar!! Well they are not wrong. The speed in which it has hit business's has alarmed people, but the signs were there over a year ago.
So how does all this affect leasing? , well funders will and have tightened up credit acceptances, and banks are being more careful in their lending. Thats enough info to start with, I will be back with more insights into the leasing world later on in the week
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