IF YOU were uncertain about the strength of the personal leasing market then consider this: a former Chief Executive of the H R Owen car retailer now has his sights set on making a B2C leasing firm a success.
Joe Doyle is the former CEO in question and the firm is ZenAuto, an offshoot of independent leasing firm Zenith to deliver personal leasing deals.
Not that brokers need any reminding of the growth in personal leasing. Year on year personal leasing has grown 19% according to the latest BVRLA stats (Q3 2018).
And the bubbling enthusiasm for personal leasing is reflected in the latest Leasing Broker Attitude Survey.
The figures reported by members of the Leasing Broker Federation show that demand for contract hire has increased 49% from last year’s survey and personal contract hire by 74% over the same timeframe.
And even if demand is evening out against an uncertain political and economic backdrop, personal leasing is beginning to resonate strongly with car consumers.
APD Global Research were responsible for analysing the results of the survey.
Rob Whalley, Managing Director of APD Global Research, commented:
“The need to service the SMEs and individuals is evidenced by the growth and confidence in the personal leasing market for both traditional PCPs and the bludgeoning PCH sector.
“It is little surprise that major leasing companies are looking at the sector with interest but not as an add-on to their services but recognising the specific requirements by establishing dedicated business units or teams.”
Whalley added that he saw no reason for any turndown in the demand for personal leasing.
“The 2018 Survey also revealed continuing confidence in the ability of brokers to service the sector.”
Get the inside line on brokers with the Leasing Broker Attitude Survey 2018
To gain further insights into the leasing broker sector, copies of the report can be downloaded here