ALPHABET has launched a new platform aimed at streamlining the vehicle financing process for corporate customers.
Alphabet Motion platform is for both Personal Contract Hire (PCH) – provided by Alphabet for the first time – and Credit Sale Agreement (CSA), and gives customers access to a full range of offers on a variety of makes and models, convenient search filters, a dedicated team of experts, and tailored quotes based on personal needs along with clear, upfront pricing and flexible contract terms.
The platform was built in response to a shift in demand for personal leasing over the past year, likely following the increase in benefit-in-kind (BIK) tax rates, which has seen corporate customers move away from company car leasing to cash alternatives. Additionally, as home working has become the norm, drivers require more flexibility and shorter lease options, while a change in perception around monthly usage contracts has seen people become more comfortable with the idea of PCH.
Alphabet’s new platform provides corporate customers with tax-efficient funding methods that sit outside of BIK, as well as flexible and reliable leasing solutions for vehicles, all of which can be easily accessed through an intuitive platform that is supported by an expert team.
Gavin Davies, General Manager, Customer Account Management at Alphabet said: “Historically, we’ve focused on developing services primarily for businesses, so expanding into Personal Contract Hire is a significant and exciting step for us. We spotted the demand and gap in the marketplace for PCH at the start of 2020, and this has continued to grow throughout lockdown, making now the perfect time to launch Alphabet Motion.
“A customer has already described the new platform as a ‘breath of fresh air’. Alphabet Motion is another example of how we are continuing to adapt and innovate at Alphabet, to meet our customer demands and to support our ambitious business growth targets.”