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Small firms turning from car purchasing to leasing
Small businesses are moving away from outright purchases of vehicles and towards leasing in order to free up cash-flow.
"Cash is king at the moment and banks are increasingly calling in debts. By switching to vehicle leasing businesses can free up capital and acquire additional funding lines," said Mike Bell, director at leasing company My Lease.
"So instead of having money tied up in a depreciating asset like a company vehicle, businesses can invest in their core business."
The vehicle industry is being hard hit by the economic downturn, with recently released figures showing that sales of new business cars have declined by 43% this year.
Post Date: November 23rd, 2008
"Cash is king at the moment and banks are increasingly calling in debts. By switching to vehicle leasing businesses can free up capital and acquire additional funding lines," said Mike Bell, director at leasing company My Lease.
"So instead of having money tied up in a depreciating asset like a company vehicle, businesses can invest in their core business."
The vehicle industry is being hard hit by the economic downturn, with recently released figures showing that sales of new business cars have declined by 43% this year.
Post Date: November 23rd, 2008
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