NZ Company Vehicle spoke to Morgan Strong, General Manager – Commercial, of UDC Finance about the effects the new government has had and will have, and the changes resulting from the CCD repeal.
DC Finance considers itself to be a financial partner to its clients – small to medium businesses which are the backbone of industry in this country and who are most likely, readers of this article.
We asked Morgan about the current economic climate from last year to this; and were surprised by his answer: “We saw more lending happening through UDC last year than the economic and political climates would have suggested,” Morgan answered.
“What was of particular interest was the consideration on the part of our customers when it came to buying plant and fleet vehicles, rather than leasing.
“The positive sentiment our people have seen suggests improving market conditions and that those customers are looking at new avenues to grow their businesses.”
This ‘positive sentiment’ is, suggests Morgan, a national one, which UDC Finance knows because of its national footprint.
As part of its 86-year experience of being an asset finance specialist, UDC Finance has developed its nationwide presence, with regional representatives being no more than two hours away from customers, giving them the ability to have face-to-face contact.
“It’s one of our core operating principles,” explains Morgan, “Our customers appreciate that we make the time to visit them personally, physically demonstrating that we hold their businesses in the same high regard as our own.
“This personal contact allows our dedicated relationship and assistant managers to learn everything there is to know for every customer situation. This way we can work to ensure our customer’s current needs are met, along with the needs for their business’s future.”
And as Morgan has pointed out, the future looks to be positive with businesses looking at options within asset financing.
These include buying versus leasing, using non-traditional lending institutions and the option of being part of a successful team as opposed to just being a number on a spreadsheet.
“As a financial partner,” elaborates Morgan “we can and will, examine innovative solutions, something small to medium-sized businesses especially, are looking for.”
“We’d rather say ‘let’s look at ways we can help,’ which is something our potential customers appreciate and base their relationship with us on.”
UDC Finance can, for example, lend against existing business assets to fund replacement fleet vehicles or plant, allowing for business expansion without tying up capital reserves, leaving cash free for other aspects of growth.
As well, UDC Finance may have flexible repayment structures to suit business cash flow. To make sure whichever flexible structure is best, UDC Finance must understand your business, which gives credence to Morgan’s earlier comments.
To find out more about how UDC Finance can help your business succeed, visit the www.udc.co.nz website.
This article is a general market commentary and does not constitute financial advice. UDC Finance Limited’s lending criteria, fees, standard terms, and conditions apply to any loan.
