Truck Repossessions High Again in Fourth Quarter

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epossessions and liquidations of tractor-trailer trucks nationwide rose in the fourth quarter, Nassau Asset Management said Wednesday.

In November, Nassau reported that overall equipment repossessions and liquidations during the first three quarters of 2005 had increased significantly for the first time since 2002.

That trend continued in fourth quarter for tractor-trailers, rising 145%, and construction equipment, up 44%, Nassau said. The fourth quarter is traditionally the slowest for repossessions and liquidations.

"We believe fuel costs contributed directly to the rise in truck repossessions, and may have had some impact on construction repossessions," said Nassau President Edward Castagna. "But it is important to note that more positive factors are also at play,” he said.

"Reports indicate that equipment leasing industry volume has been increasing. That means there was more leased equipment in the marketplace in 2005 than in 2004. Naturally, there will be a rise in repossessions and liquidations when the pool of equipment in the marketplace has increased," Castagna said.

Nassau provides asset recovery, appraisal, collections, liquidation and remarketing services for equipment leasing and finance companies across the nation.