Daimler Financial Services is biggest financer of commercial vehicles worldwide
940,000 trucks, vans and buses are financed, leased or rented through Daimler Financial Services
In Germany, more than half of all Mercedes-Benz commercial vehicles are on the road with Mercedes-Benz Bank
Cost transparency thanks to flexible insurance solutions and telematics-based charging models
Daimler Financial Services is the world’s biggest financer of commercial vehicles: around 940,000 commercial vehicles, representing a business volume of around 34 billion euros, are on the road with a leasing, financing or rental contract from Daimler’s financial services division.
This figure marks an increase of eight percent over the previous year. A good 50 percent of all contracts relate to the European market. In Germany alone, more than half of all Mercedes-Benz commercial vehicles, or more than 250,000 units, are on the road thanks to a contract with Mercedes-Benz Bank.
The Daimler Financial Services portfolio includes commercial vehicles under the brands Mercedes-Benz, Freightliner, Western Star, Fuso and BharatBenz. Mercedes-Benz Bank will be present in halls 14 and 15 at this year’s IAA Commercial Vehicles.
Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services AG: “The financial services business in the commercial vehicle sector is doing very well.
We want to further expand on this base and soon hope to be able to take the one millionth commercial vehicle onto our books. Our focus will be the digitalization of our interfaces with the retail sector and with customers.”
Usage-based leasing products made possible by telematics
From the second quarter of 2017, Daimler Financial Services will be launching “Dynamic Lease for Trucks”, initially in Italy, then in further European countries.
For this service, Daimler Financial Services combines a leasing arrangement with FleetBoard telematics data. By allowing the exchange of data while on the move, FleetBoard supports transport operators in planning routes more efficiently and reducing the operating costs of their fleets.
With “Dynamic Lease for Trucks”, customers are able to influence their leasing costs, since these depend upon the distance actually driven. On top of a fixed monthly payment, the customer pays an additional variable charge:
a lower charge is incurred by a truck that drives fewer kilometers; a higher one by a truck that covers greater distances. The usage-oriented tariff gives the customer greater flexibility, according to capacity utilization and order situation.
Franz Reiner, CEO of Mercedes-Benz Bank and at Daimler Financial Services responsible for the Europe region: “Telematics make it possible to calculate fair charges according to use.
More and more customers are keen to have such flexible and usage-based solutions for their vehicles, regardless of whether these are commercial vehicles or passenger cars.”
Digital customer journey for van customers
The sale of a van these days is supported by the tablet-based VanSELLER app from Daimler Financial Services and Mercedes-Benz Vans. Customers and dealers can search for a suitable van without being bound to a certain area.
The app offers everything you need from a single source: from the configuration of the van and a comparison with competitive models, through financing, leasing and service offers to the new insurance products.
The customer thus very quickly receives a tailor-made offer in digital form, allowing a direct comparison with offers from other vendors. The VanSELLER app is currently available in ten European markets: Austria, Belgium, the Czech Republic, France, Germany, the Netherlands, Poland, Russia, Switzerland and the UK. Further markets will follow.
Signing insurance contract while on the move
At the IAA, the Mercedes-Benz Bank is also presenting a project involving an insurance app for vans. In the future it will be possible for the first time ever to arrange the insurance for a van without any need for paper at all.
As part of the sales negotiation, the app guides the customer step by step through the application process, necessitating the input of just a few defining parameters. The rest is handled by the app. Customers then very quickly receive a direct quotation, which can also be retrieved at a later date via a QR Code and can even be signed digitally.
The app ensures a more convenient, more efficient and more transparent process when arranging insurance. The roll-out in Germany is planned for the coming year in cooperation with KRAVAG.
CharterWay ServiceLeasing: more scope for investment
Commercial vehicle customers are focusing more and more on all-encompassing mobility solutions. There is a growing demand for bundling or all-in products that leave customers free to concentrate fully on their own core business.
The close ties between the vehicle manufacturer and the captive make it possible for the benefits of CharterWay Full-ServiceLeasing to be fully exploited.
By opting for the CharterWay ServiceLeasing complete solution, customers are able to minimize the effort they expend on vehicle management, optimize their financial flexibility and reduce operator risks. Mercedes-Benz CharterWay GmbH currently has around 50,000 ServiceLeasing contracts on its books.
Flexibility is the key, since season fluctuations and short-term project work are part of everyday life for commercial vehicle operators. The modular structure allows offers to be tailored specifically to a customer’s requirements and individual needs and the creation of attractive bundled packages.
Customers end up with the vehicle that they want, configured to their own specification, and are able to cover all their needs, from the procurement and vehicle management through repair and maintenance to the return of the vehicle at a guaranteed resale value, with just one contract and for a fixed monthly payment.
– Harald Bertsch, photo Daimler