Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

FleetPartners Keeps Funds Flowing for Fleet Buyers


FleetPartners Keeps Funds Flowing for Fleet Buyers

AUCKLAND, Oct. 31/Medianet International-AsiaNet/ --

Leading New Zealand fleet leasing company FleetPartners has opened lines of credit for vehicle buyers and dealers left out in the cold by US conglomerate General Electric and its local fleet leasing arm.

FleetPartners Managing Director Dennis Kelly said FleetPartners was “fully funded, open for business and ready to help any fleet buyer caught out by the credit crisis”.

“Unlike many of our competitors we locked in long-term funding before the credit crisis. As a result, FleetPartners is in a very strong position to service current customers and assist new fleet buyers,” Mr Kelly said.

Mr Kelly said the present volatile business and credit climate highlighted the need for strategic, informed fleet management.

“Now is a dangerous time for fleet operators and they need to manage their risk very carefully. This is no time to go it alone. Make sure to choose a fleet finance company that is strong, stable and has secure access to funds.”

He urged fleet buyers to take particular care when choosing a fleet finance partner.

“The credit crunch is hitting fleets hard in terms of sources of funding, their supply chain and the residual market. The risks for fleet owners have increased significantly, making the choice of fleet finance partner even more important”.

“FleetPartners is immersed in this environment, we have secure lines of funding and having been in business for over 30 years, we have the strategic experience and knowledge to help our customers through the credit crunch.”

Mr Kelly said growing restrictions on vehicle finance in New Zealand would have a major impact across the economy.

“As a fleet operator, restricted lines of credit are just one risk in the current market. There is also the risk associated with sourcing vehicles and at the other end, of declining residuals values. FleetPartners is experienced in all facets of fleet operations and works with customers strategically day by day to help manage this risk,” Mr Kelly said.

ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>

Air New Zealand: Business Travellers Return To The Skies In Record Numbers

After a year of talking to a computer, Kiwis are leaving the office to re-connect with their clients, suppliers, and staff. New figures released by Air New Zealand show domestic business and corporate travel has defied global trends by returning ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>

LPG Association: Renewable LPG Achieves Emissions Budgets With No Need To Ban New LPG Connections

Renewable LPG can supply New Zealand’s LPG needs and achieve the emissions reductions proposed by the Climate Commission without the need to ban new connections, a new study shows. The investigation, by leading consultancy Worley, was prepared for the ... More>>

Commerce: House Values Continue To Climb As New Government Measures Announced

The Government’s new initiatives to quell the rocketing housing market were announced last week, just as house prices hit a new high for the end of March. The average value increased 7.8% nationally over the past three-month period, up from the 6.8% ... More>>