Scania Financial Services, (SFS), Scania’s dedicated UK finance and insurance arm, is celebrating its 30th anniversary this year. In its first year of operation, SFS employed eight staff and funded the acquisition of 304 Scania vehicles. Since then, the company has enjoyed continued and sustained growth and now employs 56 full time members of staff. Today, SFS provides a full complement of finance options (see Editor’s note 1) for vehicles and associated assets and funds 40 percent of all new Scania truck sales, 50 percent of all used Scania truck sales and 20 percent of all new Scania bus and coach sales. In addition, SFS provides a full range of insurance services in conjunction with its brokerage partner, C&C Insurance Brokers Limited.
“Our aim today remains exactly the same as it was 30 years ago – to be a perfect partner for operators within the transport industry,” comments Alan Rhodes, Managing Director of Scania Financial Services. “The services we provide are specialised, flexible and tailored to match operators’ specific needs. We can do this because our staff spend a great proportion of their time with our dealers where they gain experience, industry knowledge and a deep understanding of our customers’ businesses. We also have the strength of the Scania brand behind us and our customers know they can speak to our staff about any aspect of their relationship with Scania – that’s a unique selling point for us.
“Looking forward, great change undoubtedly lies ahead for our industry. As Scania drives the shift towards more sustainable transport solutions, our customers’ business models are sure to change, as will the entire risk pattern. Business will become more immediate, driven by digitalisation. While that means the relationship between us and our customers will also change, we will continue to put the customer at the centre of everything we do. One of Scania’s core values is Customer First, so regardless of how relationships develop and change over the coming years we will still be there looking to serve and support our customers every step of the way.”
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Editor’s note 1
Scania Financial Services provides a full range of financial and, in conjunction with C&C Insurance Brokers Limited, insurance services, including:
- On-balance sheet products including Finance Lease, Hire Purchase and Hire Purchase – Spread Deposit (which differs from standard HP as the initial outlay is spread over a period of months at the start of the agreement to spread the cost.)
- Off-balance sheet products including Contract Hire, Operating Lease and Finance Lease
- Tailored solutions designed to help customers’ cash flow. Includes Flexi-buy, Freedom and Deposit referral.
- Insurance services:
- Motor and Fleet insurance
- Combined liability cover
- Good in transit insurance
- Legal expenses
- Finance protection – Guaranteed Asset Protection (GAP) and Return to Invoice (RTI)
Editor’s note 2
The Scania finance story in fact goes back more than 30 years to a joint venture between the Saab-Scania organisation and a finance provider. The objective at that time was to provide funding for the purchase of both Scania trucks and Saab cars. When Scania sold Saab it decided to bring the finance operation in house as part of a global strategy to develop its own finance business.