WA bank joins the fleet game

SMALL businesses could receive the benefits of large scale fleet deals through the pairing of BankWest and leasing company ORIX Australia.

The alliance is targeting the small business market of five to thirty vehicles and commercial business of thirty to 100 vehicles.

It is offering a:

• Fully maintained operating lease

• Fully maintained finance lease

• Fully maintained novated lease

• Fully maintained luxury lease – treated as a hire purchase for vehicles exceeding the government’s specified tax limit.

Fleet leasing has enjoyed significant growth over the past three years – largely due to government privatisations and the trend by large corporates to outsource non-core functions such as fleet management.

Industry trend reports indicate the Australian fleet market comprises some 250,000 vehicles.

WA represents more than 10 per cent of the national market.

BankWest head of equipment finance Gary Johnson said the new product would offer business customers the ability to outsource fleet management and maintenance functions, saving them time, money and administration.

ORIX Australia national sales manager Ed Stanistreet said while the company had an alternative for smaller businesses, the product had never been actively marketed due to the high costs associated with distribution.

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