New car registrations rise by 11.5% in March despite 27% drop in consumer car finance in February

New car registrations have risen by 11.5% in March, equalling 29,280 more vehicles, compared to the same period in 2020 according to the Society of Motor Manufacturers and Traders (SMMT). This marks the first time since August 2020 that new car registrations had grown in the UK. However, automotive insight provider Autovista explained that this is likely to be a reflection of when the pandemic first began impacting sales in the UK as frozen markets have “wildly distorted year-on-year figures”.

New car registrations rise by 11.5% in March despite 27% drop in consumer car finance in February

Apr 13, 2021

Asset finance grows for first time in a year, reaching £26 billion in February

The UK asset finance market has achieved growth for the first time in more than a year, according to new figures released by the Finance & Leasing Association (FLA). In February, total asset finance new business reached £2.2 billion, marking a 1% rise on the previous year and a key milestone in the economic recovery following the pandemic. Furthermore, in the 12 months up to February 2021, total asset finance was down 24% to £26 billion, showing the true impact of the pandemic on the UK asset finance landscape.

Asset finance grows for first time in a year, reaching £26 billion in February

Apr 13, 2021

Brian Rogerson steps down from Asset Finance International

Having enjoyed a 50-year-long career in the asset finance industry, Brian Rogerson has stepped down from his role as consulting editor and co-founder of Asset Finance International. Brian (pictured above) co-founded the magazine in September 2009 with Edward Peck and played a fundamental part in developing it. Partly a matter of pride and partly a labour of love, Brian lead the development of free-to-view content online, covering all angles of a topic before his editorial competitors had even managed to get their paper-based alternatives to press.

Brian Rogerson steps down from Asset Finance International

Apr 12, 2021

White Clarke Group Global Leasing Report 2021 reveals health of industry as pandemic emerged

A detailed insight into the health of the global asset finance industry launched today reveals how flexibility and innovation helped the sector respond to the emerging Coronavirus pandemic. The White Clarke Group Global Leasing Report 2021 provides an invaluable insight into the shape of the asset finance market as it entered one of the most turbulent years in its history, when the COVID-19 crisis reshaped world markets. Exclusive research in the report shows that before the pandemic, the USA benefited from strong growth, with annual volume of $473 billion, a rise of 10.5% year-on-year.

White Clarke Group Global Leasing Report 2021 reveals health of industry as pandemic emerged

Mar 01, 2021

Asset Finance Europe 50 2020 reveals strength of market as industry endures its toughest year

Europe’s biggest asset finance providers entered 2020 in a position of strength that helped them prepare for the toughest year in the industry’s history. In the fourth annual Asset Finance Europe 50, asset finance leaders have heaped praise on their employees for their pivotal role in supporting industry growth and adapting to change as the Coronavirus crisis struck at the start of the year. The unique European annual ranking survey, sponsored by Alfa, reveals that total business equipment and vehicle lease receivables of the 50 largest companies were €314 billion as the industry entered a pivotal year.

Asset Finance Europe 50 2020 reveals strength of market as industry endures its toughest year

Nov 30, 2020

Simply celebrates fourth anniversary with 130% capital tax allowance relief offering

Simply, a UK small business lender, is now offering companies investing in new plant and machinery assets the opportunity to claim a 130% super-deduction capital allowance. Currently in effect until 31 March 2023, companies can also claim a 50% first-year allowance for qualifying special rate assets. According to Mike Randall (pictured above), chief executive officer at Simply, this measure is designed to stimulate business investment by offering higher rates of relief than were previously available.

Simply celebrates fourth anniversary with 130% capital tax allowance relief offering

Apr 12, 2021

White Clarke Group to sell to IDS

UK headquartered White Clarke Group is to be acquired by US-headquartered IDS in a deal due to complete by the end of quarter 2, 2021, it was announced this Wednesday. The acquisition was the second to be announced in as many months by IDS, who also acquired ABL and factoring software providers William Stucky and Associates in February. The resulting business will offer a comprehensive range of asset finance solutions, including equipment finance, automotive finance, and working capital solutions globally.

White Clarke Group to sell to IDS

Apr 07, 2021

Brokers to be indispensable to the UK's economic recovery – banks need to be ready

With the nature of the UK’s economic recovery from the pandemic evolving on an almost daily basis, many small business owners are concerned over access to finance. On this topic, Allica Bank’s head of asset finance, Richard Cameron (pictured above), explains that the real lending expertise provided by brokers is essential to the recovery, and that banks need to give brokers the tools they need to provide this support.

Brokers to be indispensable to the UK's economic recovery – banks need to be ready

Apr 07, 2021

PEAC Finance acquires Barclays Asset Finance

PEAC Finance has acquired Barclays’ Asset Finance business, which has total assets of £1.15 billion and 1,500 customers. Upon the change of control, the business will be combined with PEAC Finance. PEAC Finance will continue to work with Barclays Bank to provide ongoing access to asset finance products to Barclays’ existing and new corporate banking clients. The current Barclays UK Asset Finance team is expected to join PEAC Finance’s UK team.

PEAC Finance acquires Barclays Asset Finance

Apr 02, 2021

Fleets seek joined up digital platforms amid pandemic

More fleets are seeking “joined-up” software platforms, following accelerated digitalisation during the pandemic. Automotive e-commerce specialist Epyx said business were increasingly keen to introduce platforms capable of communicating with each other in order to increase broader efficiencies.

Fleets seek joined up digital platforms amid pandemic

Apr 02, 2021

AA launches inner-city car leasing service

The AA has launched a new leasing service, offering cars compliant with low-emission zones for use in cities subject to the schemes. Known as AA Smart Lease, it offers new cars exempt from clean-air zone charges. The zones currently exist in London and Bath, while others, including Birmingham, are set to follow later in 2021 and beyond. Although there are differences between the schemes, UK clean-air zones, including London’s ULEZ, typically permit Euro 4 petrol cars (generally registered after 2005) and Euro 6 diesels (generally registered after September 2015) to enter without charge.

AA launches inner-city car leasing service

Apr 02, 2021

Why demand for asset finance could rise as CBILS comes to an end

Of all the milestones chalked up in the 12 months since the first wave of the pandemic hit the UK, it is one of the less heralded, but no less remarkable; 100,000 British firms have applied for, and received, a Coronavirus Business Interruption Loan (CBIL). As both CBILS and Bounce Back Loans come to an end, Terry Burke, senior business development manager at surveyors Naismiths considers what the future holds.

Why demand for asset finance could rise as CBILS comes to an end

Mar 31, 2021

Bynx launches Fleet Future insight series

Fleet and mobility software specialist Bynx has launched a new insight series, called Fleet Future, to highlight the changes facing fleet suppliers and operators as the world emerges from lockdown. The fleet market is entering a period of unprecedented change and the series of reports will consider some of the most pressing challenges facing fleet managers and their suppliers. The first issue considers the future shape of the fleet market as the Coronavirus vaccine helps return the global economy to full strength, with the business environment changed significantly over the past year.

Bynx launches Fleet Future insight series

Mar 30, 2021

Why client communications is critical in a new era for asset finance

It is both a turbulent and exciting time in the asset finance services industry. Though companies face heightened competition from digitally-native disruptors, the shifting attitudes of consumers and the continual emergence of new fintech technologies. Alan Newman, Business Development Director at Paragon Customer Communications, explains why this significant and widespread change presents real opportunities.

Why client communications is critical in a new era for asset finance

Mar 26, 2021

Mark Lyons Recruitment kickstarts new cycling community with a charity event alongside AFPA Trust and LTi Technology Solutions

Forming a new community for the financial services, banking, automotive and growth industry sectors, recruitment specialist Mark Lyons is helping build a cycling network of like-minded individuals to bring people together for the benefit of raising money for charitable causes and keeping mentally and physically fit. The initiative will also serve to enhance the AFPA Trust ride calendar.

Mark Lyons Recruitment kickstarts new cycling community with a charity event alongside AFPA Trust and LTi Technology Solutions

Mar 29, 2021

Alfa Systems’ boost in revenue & profits herald a successful 2020

Alfa Systems has revealed a 22% boost in revenue in its 2020 Full Year report. At £78.9 million and £23.9 million respectively, revenue and operating profits were significantly ahead of original expectations for the year – and also notably ahead of the previous year. Moreover total contract values (future contract revenues), at £112.9 million, were some 40% up year-on-year as a result of “good wins and successful go-lives”.

Alfa Systems’ boost in revenue & profits herald a successful 2020

Mar 23, 2021

Fleet veteran Peter Cakebread set to retire from Marshall Leasing after 30 years at the helm

Peter Cakebread, managing director of Marshall Leasing, has announced his plans to retire after spending 30 years steering the company through challenging times in the fleet finance market. Having joined the company in 1990, Cakebread is set to retire in full on 30 April after being “instrumental in establishing Marshall Leasing as a leading fleet finance company.” He said: “Together, we have built a business with a great reputation for dedication to customer service. Marshall Leasing has been my passion and through my involvement with the BVRLA, including a two-year stint as chairman, I have contributed to the development of the industry I love.