New Usages

Leasing:
the shift to greater flexibility​

The automotive financing market is changing: customers are more interested in the use of their vehicle than ownership. To meet these new expectations, RCI Bank and Services is developing all-inclusive, customized leasing financings for retail and corporate customers. ​

A focus by

Frédéric Schneider

VP, Marketing and Strategy
Strategy

Supporting our customers' emerging uses

Contract_(signed)
1,8
MILLION OF NEW FINANCING CONTRACTS
Stable vs 2018
Leasing
56 %
OF OUR FINANCE SALES IN EUROPE ARE LEASE FINANCINGS

The car finance market is changing: although the trend was still for vehicle purchases 5 years ago, it has now tipped towards leasing offers.

To accompany this change in customer needs, RCI Bank and Services offers packaged, flexible and easy-to-understand solutions. The aim is to make life easier for customers by anticipating their needs. For example, to offer the latest innovations to its retail customers and enable them to adapt their vehicle to their needs, RCI Bank and Services has rolled out Renault Pass in France: a leasing offer that allows them to change models every 24 months without penalty. Other leasing offers aimed at professional customers, such as Easy Pro in Morocco, facilitate access to financing for small and medium-sized businesses.

The offers rolled out by RCI Bank and Services are flexible for the customer and also support the Alliance’s brands: they promote contact with their network and faster vehicle renewal. Indeed, 1 in 10 retail customers says that they would not have purchased a new vehicle without finance offered by the Alliance brands’ financing company.

Retail customers

Renault Pass, adapting our offer to all mobility needs

Corporate customers

Easy Pro, an optimized offer for fleets

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Prospective

Vehicle financing: towards increasing flexibility and digital technologies?

Leasing is on the rise! Our customers’ needs are evolving. They now want to be able to change their vehicle regularly without high costs or time-consuming administrative processes. To respond to this change, the market is developing new, even more flexible offers that focus on customer freedom and loyalty.

The reality of the market is reflected in constantly changing figures: estimates of the volume of the pure “private lease” product mix stand at 11% for Europe in 2022, with, however, a very significant difference between countries. Increasingly offered via a 100% digital channel, the success of leasing offers is growing, particularly in Northern Europe.

This phenomenon is an opportunity for car makers for whom digital technologies represent a new channel with which to reach a population that is often younger. Their added-value? To be able to offer tailor-made experiences to customers who want to start the purchasing process online and finish it in a dealership thanks to the expertise of their networks in developing more complete and flexible all-inclusive offers. Thus, customers have access to services that make their lives easier, as well as multiple entry points in their purchasing experience.

The coming years should see the emergence of increasingly flexible vehicle financing offers in terms of duration, associated services and customer experience. A major challenge for carmakers is therefore to maintain the fundamental physical points of contact in their customer experience.

Prospective

ZOÉ REGISTRATION RECORD IN GERMANY  

The accompaniment of ZOÉ in Germany: a successful bet for RCI Bank and Services Deutschland and Renault! 

To support ZOÉ’s sales on the German market, RCI Bank and Services Deutschland and Renault launched in 2018 a very attractive leasing offer. For this occasion, they partnered with the largest European automobile club (ADAC), which exposed the offer to more than 20 million motorists.

The goal? Propose the most attractive rental offer for an electric vehicle and position ZOÉ as a leader on its market. The monthly payment is €183, battery included, over 36 months, with an interest rate of only 0.99%.

The result? Success was there! ZOÉ is again leader in the ranking of sales of electric vehicles on the German market in 2019. The results are more than positive for RCI Bank and Services Deutschland, which totals approximately 80% of the sales made, i.e. 6,500 leasing or credit contracts on the 8,000 sales in total!

 Why long-term rental? The majority of customers have not turned to a leasing offer without reason! Not only is the offer inexpensive, but in addition the vehicle is taken back by the dealer at the end of the leasing contract, the customer therefore takes no risk regarding the residual value of the vehicle. The private leasing has therefore established itself as the preferred solution for this type of vehicle, and suggests a bright future for 100% rental offers.