Truck and trailer repossessions and liquidations in the third quarter of 2005 increased 188 percent compared to the same quarter in 2004, according to Nassau Asset Management.
In comparison, repossessions of construction equipment were up 126 percent, machine tools 22 percent.
“There is no question that rising fuel costs earlier this year made it harder for truckers, construction companies and other firms to do business,” says Edward Castagna, Nassau’s president.
Greater leasing activity is another factor, Castagna said. If lease volume increases, liquidations and repossessions will increase as well, even if the delinquency rate is as low as 1 percent.