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Renault offers 'value' deals From
Page 12
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II by Toby Clark
Renault Trucks aims to lead the move away from buy-back deals and concentrate on "Added Value Packages", according to sales director Arthur Whiteside. These "newstyle" finance offers will effectively be hire purchase schemes with extras such as extended warranties (up to five years) and repair & maintenance packages.
Managing director Yves Garin adds that the move "is giving the Renault product credibility in the market".
The new schemes have been on trial since November and have just been launched officially. Whiteside thinks that they will appeal to many operators, particularly the retail customers who Renault is keen to attract: "There is a place for customers to have assets—not just off-balance-sheet funding." Other possibilities include car-style "balloon payments" in which a final lump sum is paid at the end of the finance term: 'A low balloon payment, mind you," says Whiteside, "but it's on a case-by-case basis."
Renault is determined to avoid the problems that some manufacturers have had with large numbers of used fleet-spec vehi
des coming onto the market after shortterm operating leases of three years or even less.
Bruce Allison, the firm's director of used vehicles, says "there has been a sharp reduction in the value of used tractors" during 2001, but he adds that there is "continued evidence of a better balance between new and used vehicle markets". Another trend is the narrowing price difference between 4x2 and 6x2 tractors.
Renault has not avoided buy-back deals completely, but has concentrated on higherspec vehicles such as 385hp-plus Premium Privilege sleeper-cab tractors. Allison expects to handle 2,000 used vehicles this year (up from 750 in 2000 and 1,350 in 2001). He concludes that "managing the second life of the vehicle will generate revenue and profit for us and our network".