Renault’s bank, Renault Finance, has lent over €100 million to Irish customers since it opened its doors in 2012.
Providing car finance at a time when a lot of banking institutions were not, Renault Finance now has over 6,000 customers in Ireland, both individual and business customers.
One in two registrations take a finance agreement with Renault Finance as a result of flexible ways to pay, lower interest rates, professional service and an 80% acceptance rate.
Renault ReFlex, Renault Finance’s PCP (Personal Contract Plan) product is becoming increasingly popular with Irish customers. In 2013 approximately 1 in 4 customers opted to take this product.
Early indicators in 2014 suggest that 40% of Renault and Dacia customers will take a Renault ReFlex product.
After a strong finish in 2013 for Renault and Dacia, with Renault taking a 9.4% market share in December, and new entrant Dacia reaching 1.7% share of the passenger car market year to date, the Renault Group is off to a great start for 2014.
The Group secured 8% market share in the first 10 days of 2014, with volumes +200% against the same period last year. In 2013, Renault introduced the fourth generation Clio and the new Captur.
The availability of finance through Renault’s own bank was also key, as was a 5-year unlimited mileage warranty available across the range of vehicles, including vans, a first for any manufacturer.