Norwalk, CT-based LeaseTrading Inc. has announced 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 via the Internet.
LeaseTrading facilitates the transfer of leases for trucks and cars as well as construction, office, computer and medical equipment.
Schmidt said the firm uses proprietary technology to manage all aspects of the lease-transfer process, from initially listing assets to exchanging negotiation and contact information with credit institutions to completing final logistics and asset delivery.
Besides increasing flexibility for all parties to a lease, Schmidt emphasized LeaseTrading’s ability to inject risk management into the process.
“The ability to transfer a lease can mean the difference between bankruptcy and viability for a business or individual,” he explained. “And the difference between a performing and non-performing asset for a leasing company.”