Renault Trucks Offer Financial Solutions for Customers when Purchasing Electric Vehicles
Renault Trucks continues to pursue its commitment towards electric mobility by offering their customers a range of financial options through its captive Renault Truck Financial Services. This will help provide an easier energy transition for customers making the change.
Renault Power Ahead
Renault are aiming to continue the growing demand for electric vehicles with their Renault Trucks Financial Services scheme, designed to avoid hindering haulage companies making an energy transition. The programme is designed for their Z.E. Range.
The cost of an electric vehicle needs to be studied as a whole, in that it is the total ownership cost rather than the purchase cost that needs to be considered. Although an electric truck is more expensive to purchase than a diesel truck, there is a clear economic benefit, stemming from reduced maintenance costs and low consumption costs.
“The question of financing and insuring an electric vehicle should be addressed very early on in the purchasing process,” explained Tabitha Carpenter, vice-president of Renault Trucks Financial Services. “For each of our customers, we study a tailor-made financing solution, which will give them optimal control over their operating costs and enable them to carry out their work in confidence.”
The finance solutions can vary from one country to another depending on local specificities and regulations. However, there are mainly three offers available according to the customer’s specific needs and use, as specified below:
- Standard Instalment credit: the customer owns the electric truck at the end of the contract period.
- Financial leases: the customer decides to lease their electric vehicle and, at the end of the contract period, can choose to return the vehicle or purchase it in exchange for payment of its residual value. Leasing can be combined with state subsidies or tax breaks, such as additional depreciation.
- Operational leases: The customer opts to lease their electric vehicle, and just return it at the end of the contract period.
“We expect our customers will initially choose financial or operational leasing, rather than a standard instalment credit, as they have little experience of electric technology,” continued Tabitha Carpenter. “At Renault Trucks however, we have been working on this technology for ten years and already have experience in marketing electric trucks. We know that the vehicles in our Z.E. range are reliable and perform well over time. It is part of our role as a manufacturer to finance them.”