Romanian leasing companies have seized over 10,000 cars from debtors

The average price for a car dropped by 35 percent versus last year, therefore the leasing companies often sell the recuperated cars to the bad. The price plunge was caused by the massive stocks with which car producers and importers began the year, explains Diaconescu.

To get rid of the vehicles, some leasing companies would even offer packages of 50-60 units, but at low prices and try to make up for the loss by turning against the client. 

Impuls Leasing now has 500 cars in stock and 27,000 active contracts. The company already sold 350 cars since the beginning of the year. At the end of 2008 the stock counted 150 cars.

Diaconescu reckons that the summit of the crisis will be reached at the end of September or the beginning of October.

Impuls Leasing operates since April 2007 and is controlled by the Swiss group Impuls Leasing International, which owns 90 percent of its share capital.