DLL closes first ABS deal of 2023
Vendor financier DLL closed its first asset-backed securitization deal of 2023 on Feb. 2 — an $850 million transaction backed by loans and leases secured by agricultural, golf course and turf equipment. The pool consists of: 73.6 % loans and 24.6%
Chicago Fed’s Lavelle joins Equipment Finance Connect speaker faculty
Martin Lavelle, senior business economist at the Federal Reserve Bank of Chicago, will take the stage to discuss the Fed's view on current economic trends within equipment finance at 10 a.m. on Feb. 28 during the 2023 Equipment Finance Connect
As banks tighten credit, equipment financers see opportunity
Equipment financiers remain optimistic about 2023, even as inflation and recession fears continue to linger. “Our folks haven't missed a beat during the last recession; they haven't missed a beat when interest rates are high, they don't miss a beat when
Cat Financial revenues jump despite drop in new business volume
Cat Financial, the finance subsidiary of equipment manufacturer Caterpillar, posted increased revenues despite declining new business volume thanks to favorable interest rates. For the full year, Cat Financial posted $11.4 billion in originations, a decline of 13.3% from 2021, according to
Expanded Equipment Finance Connect agenda focuses on best practices for finance operations
Royal Media’s newly expanded agenda for the 2023 Equipment Finance Connect emphasizes educational sessions on best practices for finance operations. Equipment Finance Connect, taking place Feb. 27 and 28 at the Westin Charlotte, includes engaging workshops, roundtable discussions and professional networking
THOR inks deal for Starlink internet in RVs
THOR Industries is entering into an agreement with spacecraft manufacturer SpaceX's Starlink to provide internet to select recreational vehicles. THOR-manufactured Airstream, Entegra Coach, Jayco and Tiffin RVs will have the option of a factory-installed Starlink, which provides low-latency, high-speed internet
Equipment companies turn to bundling, SaaS solutions
Equipment companies are bundling products and services including maintenance and warranties to create turnkey solutions for customers. A growing trend in the equipment industry is the shift to an “as-a-service” approach, with companies wanting one provider that can do everything, equipment
Leasing, rentals gain traction on high-tech assets
Equipment companies are turning to rentals and leases for assets featuring advanced technology that carries a shorter lifespan. “One of the trends that we're seeing lately is that there is a preference to rent or lease items that are higher technology
PACCAR Financial Services profits soar in Q4
PACCAR Financial Services, the finance arm of truck manufacturer PACCAR, posted record profits driven by elevated prices and used-truck sales. PFS’ new business volume clocked in at $6.2 billion for the full year 2022, according to the Q4 earnings release. Growth
Homebuilder confidence rebounds after record declines
The new-home housing market is showing signs this month of a rebound, reversing a record 12 consecutive months of declines spurred by mounting mortgage rates, increasing construction costs and record inflation. January’s seasonally adjusted market index — which measures perceptions of
