Leasing companies will shift to financing used cars, as well as other fields such as healthcare, agriculture or industrial equipment, which occupy less of the current market.
Next year, Impuls Leasing, which ranks seventh on the market in terms of first half figures, will launch a new financing product for used cars, after sales of new cars, the growth engine of the leasing industry, began to stall and fall month-on-month.
Several leasing companies already have such products in their portfolio, but use them less often, primarily because most of the time they are unsure about the actual value of cars. Car financing accounts for over 70% in the domestic leasing market. "(...) We'll finance only cars from used car dealers we work with, because they will guarantee the price is the right one. We will set a price for each car model," said Razvan Diaconescu, general manager of Impuls Leasing, in an interview with ZF.
For 2009, the company expects used car financing to account for 5% in the car portfolio. Diaconescu believes new car sales will stagnate, just like the real estate market, and encourage leasing firms to seek out niches to develop.
Diaconescu expects the leasing market to rise by 10% at the highest in 2009, as a result of financing development on other segments, such as healthcare, agriculture and industrial equipment.
Impuls Leasing started operating in April 2007 and is controlled by Impuls Leasing International Swiss holding (90%), Razvan Diaconescu (5%) and Michael Unterguggenberger (5%).
The company's single financer is Raiffeisen Landesbank of Austria.
In the first nine months of this year, the company released financing worth 164.3 million euros, of which 73% went to cars and utility vehicles, 25% for commercial vehicles and 2% for industrial equipment and real estate.
Leasing companies will shift t
