{"id":27075,"date":"2012-03-28T13:21:03","date_gmt":"2012-03-28T13:21:03","guid":{"rendered":" https:\/\/www.quartix.com\/?p=27075"},"modified":"2020-09-25T17:58:15","modified_gmt":"2020-09-25T16:58:15","slug":"quartix-warns-on-lease-finance-contracts","status":"publish","type":"post","link":"https:\/\/www.quartix.com\/en-gb\/news\/quartix-warns-on-lease-finance-contracts\/","title":{"rendered":"Quartix warns on lease-finance contracts"},"content":{"rendered":"<p>Quartix reports increasing concern over the resurgence of lease-finance contracts for vehicle tracking systems and urges prospective buyers to check their supplier\u201ds financial health.<\/p>\n<p>Managing director, Andy Walters, said: \u201cUnder this model, customers are asked to commit to payments of \u00a31000 or more per unit \u2013 over an extended period \u2013 to a bank or finance house, despite the fact that the tracking system has a value of \u00a3300 or less.<\/p>\n<p>\u201cThe supplier gets all his payment on day one and is free to spend it as he sees fit, without necessarily providing for the proper support of the client over the term of the contract.<\/p>\n<p>\u201cIf the supplier goes under \u2013 as happened extensively in the last recession \u2013 customers are still left with the payments to make, which comes as a major shock to them. A number of suppliers are resorting to this type of contract again, and I can only believe this is driven by cash-flow issues once more. This practice must stop before it gives the industry a bad name.\u201d<\/p>\n<p>Quartix (<strong><a href=\" https:\/\/www.quartix.com\/en-gb\/\">www.quartix.com\/en-gb\/<\/a><\/strong>)\u00a0strongly advises prospective customers to check the credit rating and financial health of its vehicle tracking system supplier and to insist on a direct rental agreement in place of any third party contract.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quartix reports increasing concern over the resurgence of lease-finance contracts for vehicle tracking systems and urges prospective buyers to check their supplier\u201ds financial health. Managing director, Andy Walters, said: \u201cUnder this model, customers are asked to commit to payments of \u00a31000 or more per unit \u2013 over an extended period \u2013 to a bank or [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":25177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1571],"tags":[],"topic":[],"qtx_fblgauthor":[],"class_list":["post-27075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Quartix warns on lease-finance contracts | Latest News - UK<\/title>\n<meta name=\"description\" content=\"Quartix reports increasing concern over the resurgence of lease-finance contracts for vehicle tracking systems and urges prospective buyers to check their supplier&#039;s financial health.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.quartix.com\/en-gb\/news\/quartix-warns-on-lease-finance-contracts\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Quartix warns on lease-finance contracts\" \/>\n<meta property=\"og:description\" content=\"Quartix reports increasing concern over the resurgence of lease-finance contracts for vehicle tracking systems and urges prospective buyers to check their supplier&#039;s financial health.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.quartix.com\/en-gb\/news\/quartix-warns-on-lease-finance-contracts\/\" \/>\n<meta property=\"og:site_name\" content=\"Quartix\" \/>\n<meta property=\"article:publisher\" 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