Due to the global shortage of microchips or semi-conductors, many vehicle manufacturers have been forced to idle plants for varying periods throughout the year. This has dramatically affected production resulting in vehicle shortages and extensive delivery times, notably the pickup truck and cargo van segments. Manufacturers are still trying to fulfill 2021 model commitments,
As we approach the midpoint of the year, wholesale vehicle prices continue to reach new highs. We are experiencing a “perfect storm” in high used-car demand and a “perfect drought” of used-car supply — the latter amplified by the microchip shortage. We expect this trend to continue for some time as the manufacturers deal with
If the last year has taught us anything it’s that nothing is certain and the same can be said for vehicle availability as it stands today. COVID-19 has impacted every industry imaginable and the vehicle manufacturing industry is no exception. Access to vehicle stock at local dealerships has been significantly impacted because of the various
We are pleased to announce that Wilsons Fuel has been added to the Jim Pattison Lease vendor network, effective immediately. This new fuel supplier is based in the Maritimes and has 71 locations, with sites in all 4 provinces. They are branded Wilsons Gas Stops. Click here to find a location near you.
We are pleased to announce that Continental General Tire has decided to initially enter the fleet management market with Jim Pattison Lease. This will be Continental General Tire’s initial foray into the market. Effective January 4, 2021, they have been accepting our Jim Pattison Lease fleet card for tire and serviced related transactions. Transactions will
Jim Pattison Lease is pleased to announce it has acquired Manchester Leasing Services based in Urbandale, Iowa. With additional offices in Chesterfield, MO and Melbourne, FL, Manchester Leasing Services is a fleet management company with a portfolio of vehicles operating across 19 states through the U.S. With a history dating back to 1951, the Manchester Leasing
Given the current economic conditions, preserving cash and managing cash flow are important steps in the sustainability and growth of your business. Vehicle leasing can be a valuable option for fleets of all sizes to help improve cash flow, manage a safe fleet of vehicles, while also lowering total fleet operating costs. That being said,
The Canadian Transportation Ministry has mandated that, by June 2022, ELDs (or electronic logging devices) will have to be used by all drivers that are currently required to maintain a logbook. An ELD is defined by Transport Canada as “a certified device that automatically records a driver’s driving time and facilitates the recording of
Definition Vehicle Sale/Leaseback – A sale, or leaseback, is a service where a fleet management company purchases your company vehicles for a pre-determined amount and leases it back to your company. Sale/leasebacks can be done with either company-owned vehicles or vehicles that are currently leased or financed through another lessor/lender. Overview These days, managing cash
Overview Vehicle leasing provides a significant cash flow advantage to a business over purchasing, as the lower lease payment reflects the expected usage of the vehicle. In essence, you only pay for what you use. A Closed-End (operating lease) is a type of lease that offers flexible terms and kilometre allowances while eliminating residual risk
