Machinery leasing companies must be getting desperate

I've never been so hounded by leasing companies looking for business...getting calls and emails every day of late where they are hoping that I as a machinery dealer would have some "leads" for them. Would be interesting to know how much sales of new and used machines purchased via bank financing and leasing have slowed of late.

I would like to know also, I see Haas has has listed an inventory reduction sale. it could be a good time for a purchase in the near future.

think of the number of machines that are coming off lease right now which have no market plus the predicted residual values are most certainly on these company's ballance sheets. Sell your leasing company stocks!

surplusjohn said:

think of the number of machines that are coming off lease right now which have no market plus the predicted residual values are most certainly on these company's ballance sheets. Sell your leasing company stocks!

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Machine tools are not vehicles....exceedingly rare for a shop to "return" a leased machine. Leasing of machine tools is just a "loan with tax benefits" for some and for others a "loan because the bank wouldn't aprove them" .

There probably will be an increase in defaults on lease payments however, so more leased machine tools will be confiscated indeed. Maybe you could become a lease repo man... pierce your ears, add some tatoos and change your name to "Dog"

I have no idea of the % but in the last week, I had two clients mention that they were returning leased machines in the near future. THey had no work for them and since there was some sort of buy out they could not justify that.

surplusjohn said:

I have no idea of the % but in the last week, I had two clients mention that they were returning leased machines in the near future.

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Just for my curiosity, when you say "client"... what do you mean exactly ? What are you supplying these people...corporate artwork ??

no, for years I have done in varying proportions, product development and design, machinery and surplus "dealing" and appraisals. The appraisals were more a service to customers and although I did the ASA course work, I never really found that much work and it is in general not enjoyable to me and requires lots of year expenses to keep current. I have been concentrating on the design work for the last two years and help businesses figure out how to make things. A true generalist! and thus my very wide but shallow knowledge. I sell my art work but it doesn't really add up to much, so it actually costs me a great deal in income. I try to keep it separet from business. A few months ago a client asked me about a painting of mine he saw and how much money it was, I told him and he just gave me a funny look.
a current project: http://www.blurb.com/books/504987