Why does leasing exist?

Leasing World invites readers and followers to offer their thoughts on this subject, in any number of words, and we’ll offer a bottle of Champagne to the best submission we receive by May 1st, 2013

Personally I think a better question is perhaps what right do we have to exist as an industry? I.e. what are we doing to continually prove we should exist? Certainly, as a funder, especially in the niche that we service, I believe our reason for being is to provide customers a no hassle way of acquiring equipment they may not be able to purchase outright in the furtherance of their business. A simplistic view? Perhaps, but maybe it’s in overcomplicating things that we go wrong. Small ticket leasing was founded on the main ideas of cash flow servicing ones obligations and an attempt to avoid the headache of equipment acquisition. We the leasing companies agreed to make this simple and easy for our end user customers; I think at times we have really forgotten the plot. It’s when we overcomplicate the matter for the customer that we start to lose our reason for being. We need to be proud of the function we serve, which is to help, to assist and yes to SERVE our end user base in equipment acquisition, and to be clear, it’s also our job to stop them from acquiring assets when they don’t have the strength to manage payment of them. I believe it really is understanding this need to help the lessee that should drive our actions, if we keep their needs on the forefront, we shouldn’t have to defend our need to exist.

www.leasingworld.co.uk | Original article source | March 2013