WEX Inc. will offer OnDeck small-business financing to its customers under a new partnership announced Jan. 18, according to the companies.
Sofico - an automotive finance, leasing, and fleet software provider - has elected Tatsuya Tomita as Representative Director, replacing Shane Curran, to head its growing operation in Japan.
GE announced that it has reached an agreement to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO).
RIVERSIDE, CA - Fleet Financing Resources stated that its name change is due to the expansion of its business model.
Fleet managers are manufacturers of used vehicles. Many of the buyers of used fleet vehicles are C and D paper buyers. One unintended consequence to companies extending the service lives of fleet vehicles is that it is more difficult for used-vehicle dealers to finance C and D paper buyers in the secondary funding market. The issue, from the perspective of the finance company, is the remaining life of higher-mileage vehicles.
AUSTIN, TX - Innovative Funding Services (IFS), a financing company funding employee purchases of out-of-service fleet vehicles, experienced phenomenal growth over the past year.
Rather than simply defer replacement purchases to meet short-term budget-balancing goals, fleet managers should use today’s fiscal challenges to reappraise their organization’s approach to fleet replacement.
In this new economy, banks and lessors want more assurances than ever that your business is healthy. Having an answer to these questions will help keep your credit lines safe.
October was an extremely difficult month to remarket vehicles in the wholesale market as resale prices took a precipitous drop. Wholesale pricing, based on mixed mileage and seasonally adjusted, declined a record 6 percent in October. The lack of credit to both dealers and retail buyers has been the key catalyst contributing to the downturn in the wholesale market. The market forecast is gloomy until the credit gridlock is resolved.
DES PLAINES, IL – Wheels, Inc. has selected Innovative Funding Services to assist in financing some of the 60,000 vehicles it remarkets every year.
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