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Transport: Meet the Expert, Harry Sewell

Harry Sewell joined Close Brothers Asset Finance over five years ago. Here he talks about his work history, current role and provides insight into his team’s focus for the future. 

Can you tell me about your work history?

I started out working as an apprentice in a commercial vehicle dealership. This was a family business, so I was fortunate enough to be given the opportunity to understand all the aspects of the business - from the workshop floor to the accounts department.

I then started my own business, eventually selling up and moving on to a new chapter at Close Brothers Asset Finance! I originally joined the company in 2015 as an Area Sales Manager but have since progressed to become a Regional Sales Manager.  

Can you tell me about your current role?

I am a Regional Sales Manager in our Transport Division. Based at our offices in Wimbledon, I support and guide a team of six Area Sales Managers who provide finance to a range of companies across the South of England, as well as holding my own personal targets and responsibilities.

How does your industry experience help you as a Regional Sales Manager?

My experience working in commercial dealerships means that I have a comprehensive understanding of the equipment we provide finance for. This includes what the equipment is used for, how it’s used and what effect it has on the businesses we serve. This gives our customers confidence that we’re taking time to understand their needs and the challenges they might face.

What is asset finance and what types of asset finance do you offer to your customers?

Asset finance is an alternative form of funding used by businesses to obtain the equipment, vehicles or capital they need to grow. It’s flexible and can be used to fund any asset – including trucks, vans, trailers, LCVs, tippers and more.

I consider all aspects of a customer’s business and then recommend asset finance solutions that best suit their cashflow and long-term goals. Some common examples of asset finance products we offer are:

Hire Purchase: This allows the customer to buy a vehicle or equipment on credit. We would purchase the vehicle on the customer’s behalf and own the asset until the final instalment is paid.

Refinancing (Capital Release): We would purchase the asset from your business and finance it back to you, releasing the equity raised into your cash flow. Your repayments are calculated in line with the income stream that will be generated by the asset. At the end of the refinance term, you own the asset.

Finance Lease: The full value of equipment is repaid to us, plus interest, over the lease period. At the end of the term, you can choose to enter a secondary rental period, return the asset or sell the asset and keep a portion of income from the sale.

What does the future hold for your team?

A challenging economic climate to navigate. The impact of COVID-19 on people, businesses and supply chains is continuing to unfold, with challenges being faced across the globe. However, our approach to helping new and existing customers remains unchanged. We are the largest, most successful and longest-established asset finance funder in the UK and are ideally placed to give our customers the best of our expertise to help them through and build for the future.

What assets are currently most in demand?

Trucks and Trailers are always the most numerous assets we tend to provide finance for, but we come across all manner of assets along the way!