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ING Car Lease has reported more companies are taking up its sale and leaseback option.
The number of companies selling their fleet of cars to ING and leasing them back is up 15% in the second quarter of 2008 on the same period of last year, according to the lease firm.
"With the slowdown of the current economy we have seen a significant rise in enquiries and we expect it to continue over the forthcoming months," said Will Townsend, regional sales manager for ING Car Lease.
ING says the rise is a sign of a troubled market as companies that own their cars outright attempt to combat a tightening financial market by unlocking the capital tied up in the vehicles.
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