Supporting the industry in uncertain times

Supporting the industry in uncertain times

Challenging times call for innovative solutions, which is where Scania Financial Services comes in, as Alan Rhodes, the company's Managing Director, explains. 


It's hard to recall any other period in recent history where transport operators have faced so many different pressures all at the same time.  Brexit, Covid, the driver and fuel shortages, supply chain issues, changing purchasing patterns, and new and used vehicle availability have all conspired to create high levels of uncertainty and unwelcome fluctuations in the economy.  As a consequence, the stability industry needs and thrives upon seems further away than ever.


From the point of view of those involved in the purchase of high value capital goods such as trucks,  buses or coaches, any increase in operating costs – higher prices, wages or interest rates, for example – can have serious implications on cashflow.  And as every business person knows, while rates are important it is cashflow that sends companies to the wall. That's why we at Scania Financial Services have developed a range of products and services and have taken a number of steps to help operators through these challenging times.


First and foremost, one of the key advantages we hold as part of the global Scania organisation is that we have an in-depth knowledge of the transport industry.  In short, we speak your language and understand how your business works – and this often enables us to provide funding where others may choose to stand aside.


A major focus area for us is flexibility.  We very much appreciate that businesses have different needs at different times, and here we have a number of ways we can help spread the load to suit.


One example is Scania Freedom, which enables you to take an annual payment holiday of one or two months on a hire purchase agreement for the duration of the contract.  This can make a big difference to anyone involved in seasonal work, or where there may be a temporary break in work for a period of time, such as in the construction industry in the event of extended spells of adverse weather.  It can also help should a contract end unexpectedly as it provides time for replacement work to be sought.  When it comes to repayments, we're flexible there too; the cost can be repaid either by way of increased payments or additional payments added onto the end of the agreement.


Another such service is Scania Flexi-buy, which has all the traditional benefits of hire purchase but with the added flexibility of making overpayments, allowing you to repay your finance quicker and reduce your overall interest cost.


We pride ourselves on being a trusted and reliable partner, so whenever customers have looked into the options available to them, we are happy to step in and explore ways in which we can help.


Our team for Ireland are available to help develop solutions bespoke to our customers. Do please feel free to call them at any time to discuss your financial services needs.  They will be delighted to hear from you and very keen to provide the help and assistance you require.