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Lenders are exiting the automotive leasing business due to anticipated losses and charge-offs. However, according to a leading automotive financial industry spokesman, "Now is the best time to be in the leasing business."
Stuart H. Angert, co-CEO of Remarketing Services of America, Inc., (RSA) will speak at the Sixth Annual Conference of Automotive Remarketing (CAR) in Las Vegas on March 20, 2001.
"Today we find many portfolio managers examining the long-term viability of the lease product," Angert explained. "We strongly believe that leases currently being originated will mature in an equity position in 2004 through 2006. Those exiting the business now may miss a true opportunity."
On the opening day of CAR 2001, Angert's presentation will provide a historical perspective for the severe losses experienced by banks and manufacturer finance companies on the sales of vehicles coming off retail lease agreements.
Most importantly, Angert will outline specific portfolio management strategies that may be employed to generate portfolio profitability.
Angert co-founded RSA in 1991, servicing lending and lease portfolios for banks, automotive manufacturers and other financial institutions. Now employing more than 400 associates, RSA is opening a new 140,000-sq.-ft .headquarters in Amherst, N.Y.
About CAR 2001
The Sixth Annual Conference of Automotive Remarketing will be held at the Las Vegas Hilton on March 19-21.
The industry's leading vehicle remarketing forum will also feature key executives from the manufacturers, remarketing companies, Internet sites, dealerships, service companies, banking institutions, and industry research and consulting firms.
Two intensive days of speakers, executive panels, and management workshops focused on current automotive industry issues and market trends will be presented at the annual conference sponsored and organized by Bobit Publishing Company and Automotive Information Networks, Inc.
Major industry speakers will brief the vehicle remarketing channel participants on the latest industry developments, issues, and emerging opportunities. Six management workshops on used vehicle remarketing systems and technology, off-lease vehicle remarketing, alternative remarketing channels, recruiting and training of industry management, and outsourcing of vehicle remarketing services, auction remarketing management, Internet applications and remarketing are scheduled for day one and two of the conference.
The attendance for CAR 2001 is expected to exceed the CAR 2000 attendance of 750 industry and remarketing executives.
More than 50 industry companies will participate in the Products and Services Expo 2001 scheduled to open on the afternoon of March 19 with a Product and Services Expo on both days of the conference proceedings.
To register for CAR 2001 or to reserve exhibit space for the Expo, call 310-533-2410 or register online at www.bobitexpos.com or fax your registration form to 310-533-2506.
Hotel reservations should be made as soon as possible by calling the Las Vegas Hilton, 800-732-7117. Ask the Reservation staff for the special hotel rate for CAR 2001.
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