Park Logisitics - Creating Supply Chain Solutions

Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
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CV Show 2012: Cost of bank lending ‘creeping back up’

  • 25 April 2012
  • By Steve Hobson

The cost of financing trucks through traditional banks is increasing, says Peter Collins, joint MD of MAN Financial Services (MFS).

“Recent weeks have seen rates creeping back up,” he says. “Equally concerning for operators is the continuing reluctance of the big banks to consider finance at all for a great many operators.” MFS funds around 60% of all new MAN truck sales and around 40% of used vehicle sales. “We are now seeing increasing numbers of operators taking up the five-year package as a means of hedging against the arrival of Euro-6 legislation,” says Collins.

“They just don’t want to be changing vehicles in 2014 and looking for new finance. Right now, MAN’s enquiries for Euro-6 vehicles are virtually zero,” says Collins.

l MAN has struck a deal with TWT Logistics at the show, with chairman Trevor Taylor ordering six TGMs from the manufacturer. TWT, which is based near Cardiff, already has two TGMs about to enter service with support from MAN dealer WG Davies. It traditionally runs Renault tractors and has a fleet of more than 100 vehicles.

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Article source: http://www.commercialmotor.com:80/latest-news/cost-of-bank-lending-%E2%80%98creeping-back-up%E2%80%99