Sydney, 06 July 2011
Macquarie Leasing today announced that it has entered the motor vehicle dealer wholesale floorplan finance market.
Floorplan finance facilities are arrangements which dealers use to fund motor vehicles during the time the vehicles are on the showroom floor.
This expansion of its product range further consolidates Macquarie Leasing’s position as one of the leading providers of motor vehicle finance in Australia. At 31 March 2011, its motor vehicle leasing portfolio was valued at $A5.9 billion and comprised more than 240,000 contracts.
Today’s announcement follows the purchase of Australian retail motor vehicle finance portfolios in 2009 and 2010. These acquisitions contributed approximately $A2 billion to Macquarie Leasing’s Australian motor vehicle finance book.
Head of Macquarie Leasing, Lloyd Thomas said: “In 2009 we entered the car dealership market, offering a range of retail products. The highly positive response from the market encouraged us to develop a wholesale floorplan capability.”
“The extension of our motor vehicle finance offering into the wholesale market is the result of careful planning and investment, underscoring our strong commitment to the dealer market. We look forward to cementing Macquarie Leasing’s position as a major Australian car dealer financier.”