At last month's North American Truck Show in Boston, Norwalk, CT-based LeaseTrading Inc. debuted its new on- and off-line service for transferring commercial vehicle and equipment leases.
According to senior vp and co-founder Jeffrey Schmidt, the operation is the first and only full-service independent “marketplace” of its type. The marketplace is supported by a trading desk at company headquarters that can be reached by phone at 888-280-9009 or online at www.leasetrading.com.
LeaseTrading facilitates the transfer of leases for trucks and cars, as well as construction, office, computer and medical equipment.
Schmidt listed these benefits for participants:
Fleets can locate and lease high-quality vehicles and equipment on attractive terms.
Leasing companies, through LeaseTrading's risk-management program, gain an “alternative for managing their lease-portfolio credit experience.” And by addressing concerns lessees have about being “stuck” with a lease midterm, the service helps lessors improve sales.
Lessees attain greater term flexibility and an alternative to lease defaults and expensive penalties.
Dealers get a new tool to help grow their businesses. Once prospects exit an existing lease, they can purchase a new asset.
Besides increasing flexibility for all parties, Schmidt emphasized LeaseTrading's ability to inject risk management into the process.
Go to www.leasetrading.com or circle 337 on reply card.