Finance Archives - Page 2 of 3 - Fleet Equipment Magazine
Mitsubishi HC Capital America’s Work Truck division achieves $1 billion in originations  

Mitsubishi HC Capital America’s Work Truck Finance division reached a monumental milestone when it recently reached $1 billion in originations. The company reached this impressive achievement with record volume of $112 million in the quarter ending June 30, while also receiving the most credit applications in its history. According to Dave Herring, vice president and general manager,

KLC Financial implements Tamarack Technology’s artificial intelligence platform

National equipment leasing and finance company KLC Financial Inc. has implemented, an artificial intelligence (AI) platform from Tamarack Technology.An element of KLC Financial’s growth strategy, the company is using the fully-integrated AI tool to increase efficiency and accuracy of its decision-making. For KLC Financial, the next step in the implementation of is the use of the platform’s prediction capabilities in

Fleet Advantage on the impact of decarbonization, GHG regulations and electrification on truck lifecycles

FE caught up with Fleet Advantage to talk about the latest developments in the truck market, how electrification and emissions goals will affect truck lifecycles, and a few other topics at the TMC Fall Meeting in Cleveland in September. Below is our Q&A with Al Barner, senior vice president of business development at Fleet Advantage.

Truck cargo theft happens: Here’s how to avoid it

Cargo theft is a major concern for fleets and incidences ramped up in 2020. To avoid stolen trucks or items, it’s important to look at the data, determine threat conditions and more. In this Q&A, Scott Cornell, transportation and lead crime and theft specialist at Travelers, walks through what his company does to identify signs

SelecTrucks enhances 60-Day Buyer’s Assurance Coverage

SelecTrucks announced expanded component coverage and a new warranty concierge program, administered by Fleetrock, to enhance its 60-Day Buyer’s Assurance coverage. Select Limited Warranties are zero deductible with no aggregate limits, include unrestricted progressive damage on covered components and are available up to 48 months/400,000 miles. 60-Day Buyer’s Assurance coverage is included with every Select

How truck lease structure impacts maintenance, repair costs

The broader economy has rebounded quite well from the severe market turbulence of 2020—and seven countries, including the U.S. and China, have already reached their per capita GDPs return to pre-pandemic standing, according to the latest report from the Organization for Economic Co-operation and Development (OECD). According to the group, global economic output will rise

Volvo Trucks to offer Volvo Blue Contract truck maintenance program

Volvo Trucks North America has introduced the Volvo Blue Contract service offering, a maintenance program that the OEM says is designed to improve uptime, assist in optimizing truck performance and simplify maintenance management for customers and dealers. The new Volvo Blue Contract provides one premium service plan that replaces existing maintenance plans currently offered to

Making informed truck management decisions during the microchip shortage

The trucking industry could be headed toward the perfect storm of equipment shortages. We’ve already heard how the microchip shortage is impacting OEM truck production, and those supply challenges are being felt by suppliers and service providers. ACT Research noted that Class 8 truck orders are nearing their “best ever,” and vocational markets are expected

Could finance departments be contributing to higher costs?

I have been involved with a couple of bulk fleets that use blowers to unload their products. Upon visiting the two fleets I was amazed at the volume of expensive blowers just laying around. Many of them were just sitting on the ground and on pallets, and what disturbed me the most was they were

Think carefully about your maintenance cost-cutting measures

Costs are continuing to rise thanks to COVID-19. The costs of off-shore parts have risen and are continuing to rise, and because of this “margin madness” is taking place, and bonus incentives seem to be upper management’s avenue to lowering costs. I know of one small fleet with 150 trucks and 450 trailers that decided

Fleet Advantage’s sale-leaseback program totals more than $24.5M in new business

Fleet Advantage says it has secured an additional volume of $7.5 million in new business through its pioneering Sale-Leaseback program. The additional volume follows an initial $17 million generated shortly after the program’s launch in May. Fleet Advantage’s Sale-Leaseback program features the flexibility to dispose of surplus trucks and convert “dormant equity” locked up in

Kenworth Electric K270E, K370E eligible for $95,000 CARB HVIP voucher

The new Kenworth K270E Class 6 and K370E Class 7 battery-electric vehicles qualify for a $95,000 voucher incentive to qualifying California purchasers from the California Air Resources Board (CARB). The financial incentive is offered through the CARB Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). The opening for new voucher incentive requests is