- The Finland-based subsidiary of Santander Consumer Finance –main lender in the Finnish car industry– launches a service called SHFT.
- This non-binding car subscription offer is currently tested ahead of formal launch scheduled in 2020.
- Monthly subscription including insurance, car maintenance, tyre change and other costs entailed by owning a vehicle (except for fuel and car parking).
- Freedom to end their contract as of the first month, after a 14-day advanced notification.
- Freedom to swap car each month (no number limitation).
- Max. leasing term for same car: 36 months.
- Logistics handled by multi-brand car dealership Vaihto+, subsidiary of Veho.
- Cost: monthly costs depend on the assessed value of the car, from €399 to €699/month.
- Addressing specific needs. Santander Consumer Finance aims aim customers who might think of no longer riding cars, but still might need them occasionally (ski trips and other journeys, for instance).
- This financial group also aims at providing more flexible and hassle-free mobility services, an intent they can’t achieve with their conventional committed financing offers. Hence their testing a fully flexible, non-binding option which is also a means to attract customers they couldn’t address with their existing offers.
- Successful tests have already been run in Norway in the end of 2018 and an official launch was announced in spring 2019.
- Registrations are open for the Finnish test phase. Users can volunteer and 30 people will be selected. Of course, applicants –ages 20 to 65– must show a valid driver’s licence.