With so much talk about bad debt,
fraud, arrears and suppliers not honouring their obligations –
not to mention leasing company losses – it is too easy to
forget the good news.
On average, most lessees are still
paying their repayments in full and on time, and may well
contribute to end-of-term income.
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These are the customers that do not
call up and question documentation fees, or complain 18 months into
a lease that equipment does not work. They are the companies that
are investing in new equipment, providing employment and helping
our wider economy to improve.
These are the organisations that
pay our wages, and will be our customer base in the future.
Some of these companies may be
having a rough ride in the middle of the current storm, but still
feel morally obliged to honour financial obligations, even though
it may be easier to sink the ship.
Most leasing companies are
achieving higher yields, and their cautious approach to credit will
result in reduced bad debt in future. They have used this recession
as an excuse for undertaking a long overdue clear out of staff and
overheads.
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By GlobalDataSometimes we all need to take a
step back and focus on all the positive attributes of our market
sector. It may be tough, but ultimately a lot of good can come from
these times.
Jeremy Hall
The author is the founder
of Wyse Leasing
