A NEW LIFE OF LEASE
The US equipment leasing market is an attractive target to Washington legislators. No wonder. The American Association of Equipment Lessors (AAEL) estimates the total volume of leases written in 1984 at $88 billion; about 30% of all US equipment acquisitions and about 19% of all capital expenditures, broadly defined.
In a $175 million deal for the joint GM-Toyota New United Motor Manufacturing plant in Fremont, California, Chase Manhattan was the equity participant or lessor, enjoying the tax benefits and exposed to fair market residual value at lease expiration.
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