Dealer rentals to grow as bonus depreciation phases out
CHARLOTTE – Rental business at dealerships is poised to gain traction in the coming years as depreciation tax benefits on equipment begins to phase out. Rentals are already gaining traction on equipment with advanced technology, and more segments of the equipment
Automation, standardization increase aftermarket product attachment
CHARLOTTE — Automation is key for equipment dealers looking to sell aftermarket products as it will help increase attachment rates and streamline their integration into the sales cycle. “What I’ve found visiting dealers is that, on the front end, there’s no
Mitsubishi HC Capital Canada to finance Lion Electric EVs
Mitsubishi HC Capital Canada and ENGS Commercial Finance are providing financing to electric vehicle manufacturer Lion Electric for the company’s school bus and truck customers in the United States and Canada. Mitsubishi HC Capital America is set to absorb ENGS Commercial
US business equipment orders increase by the most in five months
Orders placed with US factories for business equipment increased in January by the most in five months, suggesting businesses continue to make longer-term capital investments despite high borrowing costs and lingering economic uncertainty. The value of core capital goods orders, a
Watch for these 3 key themes at Equipment Finance Connect
CHARLOTTE — The equipment finance industry is seeing a period of growth despite hawkish monetary policy and lingering supply chain constraints, with vendors and lenders looking to capitalize on the opportunity to streamline their finance and insurance operations. In fact, new
Arvest Bank rolls out equipment lending product
Arvest Bank launched an equipment finance lending product on cloud-native core banking platform Thought Machine. The $26 billion bank decided to run the product on a cloud-based core to keep up with ever-changing segments — including the $1 trillion-and-growing equipment finance market, Laura
H&E Equipment Services posts record rental revenue
H&E Equipment Services logged record rental revenue in the fourth quarter of 2022 due in part to favorable industry conditions and successful growth for the company. H&E recorded rental revenues of $245.0 million, up 34.6% year over year. For the full
Kubota NA financing income jumps as inventory improves
Kubota Corp.’s North American financing income jumped as the Japanese OEM raised prices to combat continued inventory constraints. North American finance income for the full year 2022 clocked in at $585.8 million, according to the company’s earnings supplement. NA finance income
Tight financing spreads push down John Deere Capital income
Less favorable financing spreads pushed down John Deere Capital Corp.’s net income in the first quarter of fiscal 2023, prompting the company to revise the income outlook for its global finance arm. JDCC income clocked in at $185 million, down 19%
Small business lending data collection rule change expected in March
Changes to the Equal Credit Opportunity Act (ECOA) that would require equipment lenders to submit to the Consumer Financial Protection Bureau credit application data for women-, minority- and black-owned businesses are expected in the coming months. The CFPB has been since
