Digital channels key to securing equipment, work truck sales leads
Equipment and work truck dealers should leverage online sales channels to secure leads and widen the sales net as more consumers browse inventory and shop through digital avenues. Many equipment and work truck dealers post inventory on their websites but need
Equipment vendors must protect personal information under FTC rule change
Equipment vendors soon will be held to the same standards as banks when it comes to protecting consumer and employee information. Changes to the Federal Trade Commission’s Safeguard Rule will expand the definition of a financial institution to include equipment vendors. The
First Citizens Bank Equipment Finance eyes $750M in industrial originations in 2023
CHARLOTTE — First Citizens Bank Equipment Finance has its eye toward growth in its industrial portfolio this year as the lender looks to capitalize on new technologies and leverage its salesforce to enter new markets. First Citizens expects to originate $700
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
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
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
2022 equipment ABS volume increased 14% YoY
Equipment asset-backed securities issuance volume in 2022 outpaced the last three years as the structured finance segment continues its growth trajectory. Equipment ABS volume landed at $22.3 billion, an increase of 14% YoY, according to JPMorgan Securities. By comparison, volumes landed
CIT director Harold Ray to join fireside chat at Equipment Finance Connect
Harold Ray, director of the industrial finance division at CIT, is set to take the stage for a fireside chat to discuss the state of the equipment finance industry amid a rising interest rate environment and inflationary pressures at Equipment
