The latest statistics from Leaseeurope show that more small or medium sized enterprises (SMEs) across Europe, including in the UK, are using lease finance as a way to fund the equipment they need to expand.
In the UK, specialist lease finance companies saw an uplift in new contracts of 22.77% during 2014. The figures produced by Leaseeurope cover the lease industry in 29 countries across the continent of Europe.
Across the 29 countries reviewed, demand for commercial plant, machinery, and vehicle leasing increased by 9.53%. The increase in demand in the UK is far stronger than it is in the majority of the other European countries, reflecting the fact that the economy here is beginning to recover.
Equipment leasing was an area of strong growth across the UK. During 2014, demand for equipment leasing and hire purchase increased by 22.68%.
During 2014, more UK firms expanded their fleets using leasing rather than choosing to purchase vehicles. Statistics from Oxford Economics show that more than 1.5 million vehicles are registered as part of a leasing deal each year. In 2014, UK firms leased record numbers of commercial vehicles, achieving the highest number since 2007.
At DJB, we specialise in commercial vehicle finance, asset leasing, and asset financing. Our expert advisors can help you to secure the funds you need to provide your firm with the cash needed to grow and become more profitable. To get our expert help, all you need is to give us a call or fill in our contact form.