PSA Adds Flexible Long-Term Leasing Offer, Teams Up with Groupe Mary

PSA Adds Flexible Long-Term Leasing Offer, Teams Up with Groupe Mary

FACTS

  • Groupe PSA’s financial arm and mobility unit tests a non-binding long-term leasing offer in partnership with Groupe Mary.
  • This option called Flex & Free applies to 48 months leasing contracts, with or without initial capital injection, for 10,000 to 20,000 kilometres/year. The customer is charged a monthly rent and may end his leasing contract without incurring any penalties after 6 months, when providing a 2-month notice.
  • Throughout the test period, only new and in-stock petrol engine Peugeot vehicles are eligible (108, 208, 308 and 2008).

CHALLENGES

  • Breaking new ground on the subscription market applied to car rental services. Long-term leasing offers appear successful among both individual and corporate customers. With this option, PSA also intends to build an offer likely to meet customers’ expectations when it comes to freedom and flexibility, especially as they may end they contact without incurring charges. The leasing contract can be terminated after just 6 months: a huge step towards upholding a flexible approach.

MARKET PERSPECTIVE

  • Over the past years, car makers have been working on long-term leasing offers in France. In the meantime, more subscription packages have seen the day, in an attempt to meet customers’ expectations in terms of flexibility. In April, the Spanish car manufacturer Seat launched a non-binding long-term leasing offer in France and, in this case, no penalties are incurred if terminating the contract after just one month: an out-of-the-ordinary level of flexibility that will have to prove its worth businesswise.
  • While waiting for a nationwide rollout across the entire Peugeot network, Flex & Free will be tested in 5 Groupe Mary point of sale in Normandy (Caen, Deauville, Lisieux, Granville and Avranches).

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