Options to lease
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Carlwright Group doesn't only make trailers it also finances them in a joint venture with Bank of Scotland.
"Some 90% of our customers take their trailers on operating leases, mainly over five to seven years," says Cartwright Finance manager Hiren Bakhda. "We can offer agreements over up to 10 years, although a 10-year deal wouldn't be something we'd class as standard."
Of the remaining 10% the vast majority opt for HP. 'We write the odd finance lease too," Bakhda remarks.
Trailer residuals haven't been that firm in recent years, so how can Cartwright Finance offer operating leases with confidence? Mainly because it doesn't rely on selling ex-contract trailers to make the books balance, Bakhda explains.
'We'll certainly do so if we think we can get a good price for them, but in most cases we rent them out," he concludes.