LeaseTrading, a company that made its debut at the recent North American Truck Show in Boston, says it has introduced the first and only full-service, independent marketplace for the transfer of commercial vehicle and equipment leases.
Serving North America, the LeaseTrading marketplace, located at www.leasetrading.com, facilitates the transfer of leases for not only trucks and automobiles, but also construction, office, computer and medical equipment.
Using its proprietary technology, LeaseTrading says it will manage all aspects of the transfer process from initial listing of assets to exchange negotiation and contact with credit institutions and, finally, to logistics arrangements and asset delivery.
"LeaseTrading drives and enhances the lease transfer process, and is a tool critical to the management of risk. The ability to transfer a lease can mean the difference between bankruptcy and viability for a business or individual and the difference between a performing and a non-performing asset for a leasing company," said Michael D. Penfield, founder and CEO of LeaseTrading. "Especially in the competitive trucking industry, fleets, owners and operators can take advantage of this credible alternative to the dilemma of expensive termination of penalties and potential bankruptcies."
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