Banco Bpm and Alphabet have signed a commercial partnership which will see them together in theoffer of long-term rental solutions to all bank customers.
"Through this agreement, Banco BPM can expand its range of offers, making available high value-added non-financial services capable of satisfying the needs of all those - individuals and companies - who are interested in the rental service in a broader way. long term. Furthermore, the international dimension of Alphabet and its belonging to the BMW Group, leader in the automotive market, allows us to ensure that our offer in this area is in line with the best market standards,” said Joseph Chestnut, managing director of Banco Bpm.
Long-term rental is gaining ground on the market, representing an innovative solution to offer mobility to all types of businesses, freelancers and individuals, and freeing the customer from the obligation to purchase, manage, maintain and resell the vehicle. By paying a fixed monthly fee, it allows you to have a car with all the necessary services: insurance, ordinary and extraordinary maintenance, winter tire management, car taxes and a replacement car.
The agreement guarantees Banco Bpm's customers a starting next month – January 2020 – to choose from various service packages the offer that best suits your needs. The service, available in Banco Bpm branches, will also be extended through the group's digital internet banking platforms.
Long-term rental is replacing other forms of financing, proposing itself as a formula that better responds to the new needs of customers. This figure is confirmed by the long-term rental market share of the total car registration, which shows constant growth, going from 6% in 2010 to 14% in 2019.
With the same model and mileage, an average convenience of 15% is estimated compared to ownership, without counting other advantages such as the lack of immobilization of the entire capital for the purchase or the time saved for the bureaucratic obligations associated with owning a cars and the absence of risk associated with the sale of used cars, as stated in the press release.
