Truck Lessor Consolidation Opens Door for New Lessors
There has been a dramatic decrease in the number of finance lenders to the Class 2-8 truck market due to company closings and consolidations, according to a survey conducted for the Equipment Leasing Association by MacKay & Company. One consequence of this consolidation, according to the report, is that the market is ripe for new lessor entrants.
Another market change highlighted in the report has been the dramatic shift in finance and lease to used equipment from new in the past two years. Currently, used equipment comprises the bulk of finance/lease packages.
The truck finance/lease market accounts for 9 percent of the Class 2-8 registrations.