IT funder Lenovo Financial Services (LFS) has
launched upgraded financing facilities for technology dealers in
the UK and France on the back of research suggesting there is to be
an upswing in companies seeking leasing solutions.

It comes as research, carried out by market
intelligence provider IDC, showed 50% of companies surveyed were
planning to lease more frequently in 2011, while 70% said the
availability of leasing is key in choosing a vendor.

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LFS also cited market assessment by consulting
firm INVIGORS, which estimates IT leasing volumes in the UK will be
worth $2.59bn (€1.83bn) by 2012, up 21.6% compared to 2010.

The new scheme from LFS is aimed at helping
dealers to clinch additional sales and increase margins by
providing customers with a way to deal with cash constraints and
rising inflation through leasing.

It will include a 0% financing rate for a
36-month residual-based lease for qualifying deals between £1,000
(€1,149) and £100,000, purchase-ordered between 1 April and 30 June
2011. 

 A total of 20% of software and
peripherals can be included in the deal. Dealers are also to
receive a commission, as well as online sales incentive points. The
more finance sold, the more points are credited into the dealers’
online accounts.

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LFS will also provide an automated
online tool to give dealers easy access to quotations. The tool
will enable them to submit proposals and gain immediate credit
decisions. Most proposed deals will have a
credit decision in 30 seconds, LFS has said.

LFS is formed of a vendor finance partnership
between Lenovo and CIT Group.

claire.hack@vrlfinancialnews.com