Quality Leasing, the mid-tier commercial equipment financing subsidiary of the Tom Wood Automotive Group, reported record-breaking business volume for 2020, posting a 14% year-over-year increase in funding volume. Quality reported increases in new business volume, repeat customer funding, number of assets funded, average transaction size and total contracts booked for the year. Each of these KPI upsurges led to Quality’s highest overall annual funding volume in the company’s 64-year history.
“The challenges of 2020 — from adding and adapting staff, to managing changing market conditions, to the introduction of new technology and processes — bonded the team in new ways,” G. Paul Fogle, CLFP, managing director of Quality Leasing, said. “While most of us were physically distant, we were able to work together to accomplish more than ever before.”
In addition to the company’s growth in 2020, Quality team members were featured as industry experts on more than 15 virtual panels and were published in more than 10 media outlets. Additionally, Fogle was elected to the NEFA board and the firm made the Monitor 101+.
“You can expect big changes from Quality starting in January, with EFAs on titled vehicles, e-docs for all deals, new short-form contracts, wireless GPS and website inventory listings,” C.J. Zaruba, who was hired as COO at Quality Leasing in 2020, said. “This kind of momentum cannot be stopped.”