Equipment Leasing and Finance Association - Equiping Business for Success

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Monthly Leasing and Finance Index 1st Quarter 2003

Jan 1, 2003, 17:23 PM

Please Note:

ELA's name, address, web site and contact info have all changed since the information below was originally published. For additional information on this and other ELFA research materials, please contact Bill Choi at bchoi@elfaonline.org or 202.238.3413.

ELA recently released the results of its Performance Indicators Report (PIR) for the first quarter of 2003 (Jan-Mar)

The PIR tracks the performance of prominent leasing organizations in six key areas. Because the same companies were tracked and used in the analysis, the PIR provides fairly reliable trend analysis. Each illustration below reflects the data provided by those companies responding to that particular question. Typically, not every company polled responds to every question.

New business volume grew at 9.0% when compared to the 1st quarter 2002. Total net portfolio also increased 3.7%, showing signs that the economy is slowing starting to recover. The total number of employees declined 4.42% reinforcing a delicate employment market. One organization had a significant reduction in force in 1Q 03. Credit approval ratios have declined 1.3% compared the 1Q 2002. Average losses remained stable when compared to the previous year. Showing signs of recovery, lease payments within 30 days (on-time) is up 110 basis points compared to 1Q02.

The key metrics are showing signs of life: higher new business volume, decrease in delinquencies, lower charge-offs, and increased productivity from existing employees summarize the 1st quarter Performance Indicator Report.

This study is conducted quarterly by the ELA, which provides a variety of data, including customized market analyses, to ELA members and organizations involved in the $204 billion equipment leasing industry.

Participants in the 1st Quarter 2002 PIR Report

  • ADP Credit Corporation
  • Amsouth Leasing Corporation
  • Caterpillar Financial Services Corporation
  • Computer Sales International, Inc.
  • Dana Credit Corporation
  • De Lage Landen Financial Services
  • GreatAmerica Leasing
  • Farm Credit Leasing Services Corporation
  • Fleet Capital Leasing
  • Hitachi Credit America Corporation
  • John Deere Credit Corporation
  • JP Morgan Leasing Inc.
  • Key Equipment Finance
  • LaSalle National Leasing Corporation
  • U.S. Bancorp Leasing & Financial
  • Wells Fargo Equipment Finance

Total Net Portfolio

pir1q03-totalnet

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Total New Business Volume

Total New

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Delinquencies

(as a percent of gross receivables)
  2001 2002 2003
  1Q 02 2Q 02 3Q 02 4Q 02 1Q 03
Less than 30 days 97.2% 97.6% 97.9% 98.2% 98.3%
31-60 days 1.0% 0.9% 0.6% 0.7% 0.7%
61-90 days 0.6% 0.5% 0.4% 0.4% 0.3%
Over 90 days 1.2% 1.0% 1.1% 0.7% 0.7%
  100.0% 100.0% 100.0% 100.0% 100.0%

16 respondents

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Average Losses

Average Loss

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Credit Approved Ratio

Credit Approved

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Total Number of Employees

Total Number

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