THIS week the Leasing Broker Federation, in partnership with APD Global Research, launched a new market research programme that will provide regular insight on current trends in the market.
It will look at brokers’ perception of funders and manufacturers, as well as opinions on who is best in supporting the sector and with whom they have the best relationships.
The online survey will be regularly updated as responses are received, to provide a near real-time insight of the vehicle leasing brokers’ market. The live results are accessible at any time via a link from the LBF website to an online portal.
Within the first few days of the survey being launched, 37 Brokers have already provided their feedback. As highlighted, they will be receiving credits which can be redeemed against our Winter workshop and Dinner at Epsom in December
Some of the early feedback has shown some interesting results, such as:
- There is expected growth in the market with the predicted number of enquiries, completed transactions and overall fleet sizes showing a 60%-67% increase, with only 14% predicting any decrease.
- When working with funders – the most important aspects are: Fast decisions made by funders (89%) and good acceptance rates (78%). So being able to support this fast-moving market is essential for funders.
- 28% of the Brokers have seen new funder entrants to the market. Which is offering more funding options outside of the traditional funders.
- The levels of interaction between Brokers and Manufacturers, either frequently or occasionally is 65% but between Brokers and Dealerships is 92%. This gives manufacturers the opportunity to improve relationships with Brokers.
The research findings bring benefit to the LBF members who take part and to all those linked to this growing sector, namely Leasing Companies, Funders, Dealership Groups and Manufacturers.
To find out more and to express your interest in either getting involved by providing feedback, or accessing the results, please click here.