EXIM cooperates with six leasing companies
Magyar Export-Import Bank Zrt. (EXIM) has signed a letter of intent with six Hungarian institutional leasing partners on the V4 Logistics Conference organized by the Hungarian V4 Presidency. The new Domestic Leasing Facility Refinancing Facility, launched under the Future Exporter Program, is approx. EUR 59 million and HUF 14 billion.
This new construction is a milestone in the successful cooperation of domestic leasing companies and the EXIM., Gergely Jákli CEO emphasized. Fixed-rate sources will be available to small and medium-sized enterprises as well. The partners are Budapest Lízing Zrt., Deutsche Leasing Hungária Zrt., Erste Bank Hungary Zrt., Merkantil Bank Zrt., MKB-Euroleasing Zrt., and Raiffeisen Corporate Leasing Zrt.
The EXIM will expand its refinancing product range with new designs in July 2018.
SMEs grew up on leasing market
The Hungarian leasing market grew by 16 percent in the first quarter of 2018 and the growing demand for financing small and medium-sized enterprises was important for growth, the Hungarian Leasing Association said.
In Q1 an average of 715 thousand forints, or 71.5 percent of the funded amount, was allocated to SMEs for every 1 million forints placement. According to Hungarian leasing companies, small and medium-sized enterprises will be the engines of expansion in the next period. In the first quarter of this year, 71.5 percent of the outsourced amount went to the SME sector, “said Katalin Nyikos, President of the Hungarian Leasing Association, with the latest data on the Hungarian leasing market.” Small and medium-sized enterprises “investment and development are partly improving due to economic growth and, due to the low interest rate environment, the companies concerned receive flexible and cost-effective funding.”
A positive sign of future growth is that the Economics and Entrepreneurship Institute the company’s economic growth rate was 53 points, since 1998 it is the highest value, so companies believe the economic environment is favorable. The Commission of the European Union and the European Central Bank, SAFE’s comprehensive assessment, are increasing leasing in Europe, while leasing contracts are the most popular in post-consumer goods. “The SAFE survey also pointed out that leasing is the most important form of financing for Hungarian SMEs,” said Katalin Nyikos.
In addition, over the past six months, leasing was used in the highest proportion. Fast moving and exporting companies consider the lease as one of the most important and one of the most popular financing systems – he stressed. The necessary repairs and purchases are much slower than those of competing bank loans, much more on average. Leasing is a suitable form for continuous, larger-scale developments. “It seems that 53% of fast-growing SMEs seem to have opted for 52% of exporters, while bank loans are less distributed to these companies,” said Katalin Nyikos. He also added that 27 percent of fast-growing companies, 28 percent of exporters leased financing over the past six months, while bank loans fell 18 percent, 21 percent.
According to the experience of the Hungarian Leasing Association, SMEs are primarily concerned with leasing systems due to low financing costs, low self-sufficiency and additional safeguards. Favorable cashflow management and flexible, time-consuming maturity serve the lease. Due to the expectations of the Hungarian Leasing Association, continuous economic growth, improved business development and the inflow of EU funds, the role of leasing financing may increase in the business sector, including small and medium-sized enterprises.
Updated resumption guide
The fleet committee of the Hungarian Leasing Association has updated the vehicle resumption guide issued in 2012. Now customers can clearly see what injuries are considered when they return to normal use and which will cost them more.
The second edition of the “Takeover Guide” sets out the types of acceptable and unacceptable injuries resulting from the use of passenger cars in the event of termination of a car rental contract. This guide has worked-out by the Hungarian Leasing Association cooperating with representatives of Dekra and SGS companies. The updated guide is documented with photographs showing a list of acceptable types of injuries.
The primary purpose of this guide is to facilitate the safe and economical operation of the fleet. Another objective is to help procedures related to car leasing contracts and to improve their efficiency. Why does it happen so often that after the termination of the rental contract, the Lessee must also bear the costs of damage to the vehicle? This will happen if the condition of the vehicle is worse than the age of the vehicle and the number of kilometers traveled would justify it.
Any further injury, which is considered unacceptable injury under this Car Accident Guide, will have a negative impact on the market value of the car, which causes the Lessor to suffer a loss. Since the condition of a vehicle depends solely on the user / driver’s use, such losses may be shared between the parties to the lease. Immediate notification of the Lessor for failures and deficiencies in the condition of the vehicle also plays a critical role in reducing further damage.
Toyota’s hybrid car sharing Yuko launches in Venice
Toyota Europe expand their car sharing offer Yuko which deploys only hybrid and plug-in hybrid cars. The service is now coming to Venice with a fleet of 49 cars ranging from the Yaris Hybrid to the Prius PHEV that can be rented as part of the city’s public transit.
Yuko means “Let’s go” in Japanese and so far, Toyota Europe had launched their car club with hybrid cars in Dublin and the Italian town of Forli in late 2016. It took the Japanese almost two years to expand the offer.
Venice has just become the second city in Italy, where citizens and tourist may hire a hybrid or PHEV. For Toyota it is the third Yuko launch in Europe.
49 cars, among them the “barrier-free” Toyota Proace Verso as well as the top of the line Prius plug-in hybrid have become available. Rental options include both a free floating (YUKÕ Way) as well as a station-based service (YUKÕ One).
Users may register online. Moreover, Toyota has teamed up with Venice for their hybrid car sharing to be included in the ‘Venezia Unica’, Venice’s official City Pass, allowing customers to easily switch between public and private transport to enhance multimodality.
The hybrid cars also benefit from privileges such as free access to the traffic restricted areas and to paid parking areas particularly scarce in Venice.