Founded in a period of economic recession, the Irish subsidiary of RCI Bank and Services celebrated its fifth anniversaryat the end of 2016. Renault Bank has loaned €500 million to Irish customers of the Renault, Dacia and Nissan brands. The secrets to its success? Solutions adapted to the market and the needs of its customers.
Personalized financing offers adapted to the purchasing power of customers Right from launch, Renault Bank successfully adapted to the Irish environment by proposing competitive rates along with flexible financing options such as the Personal Contract Plan (PCP). The idea? Offer the customer the model that best corresponds to their needs through an initial down-payment and controlled monthly payments.
At the end of their contracts, customers have three possibilities; they can keep their vehicle, return it to Renault Bank, or choose a new model in the range. Today, the PCP has become the most popular financing model in Ireland, with over 60% of Renault customers and 64% of Dacia customers using it to acquire a new vehicle.
Sales of used cars and light commercial vehicles are also on the increase
In another positive development, sales of used cars have risen five-fold in the last five years. At end-December 2016, sales were up 48% on 2015. In addition, the Renault brand now ranks top-three in light commercial vehicle sales in Ireland. Renault Bank Ireland loaned over €31 million to professionals in 2016, for a 26% increase on 2015.
The objective for the coming years? To respond ever more closely to the expectations of our customers by bringing them new products and services and new purchasing options.