Eurorepar Car Service has seen a 35% increase in the average monthly transaction value of garages offering its Drive Now Pay later flexible finance service.
According to EMaC, provider of the finance service, there was also an increase in repair spend last year, with Drive Now, Pay Later customers spending on average £714.84 in total.
Drive Now Pay Later allows customers to spread service and repair bills of more than £50 across four equal payments. This flexibility means that vital repair work, which might otherwise have been delayed or cancelled, can be carried out at the right time.
One Eurorepar Car Service centre generated £7,000 in sales during a single month through the Drive Now Pay Later scheme, with others achieving more than £20,000 in the last year through financed custom.
Nick Taylor, head of network & business development at Eurorepar Car Service, said: “EMaC’s data highlights the growing demand for simple and accessible finance that helps drivers to spread the cost of servicing and repairs. It’s therefore vital that all our members make use of our Drive Now Pay Later programme so that customers network-wide can benefit. Not only is it a great way to win custom, as demonstrated by some of our existing members, but it can also help to bolster your customer service and support the retention of repeat business.”
Setting up the payment plan is a quick and simple process that can be done on the same day that a vehicle is repaired, and Eurorepar Car Service centres are making sure that all customers are aware of the facility.
Liam Finney, director of commercial partnerships at EMaC, added: “As the provision of 0% finance becomes more widely available, we are seeing consumers proactively ask whether or not their garage offers flexible payment options for their repair bill. It is now becoming a core component of a garage’s consumer payment options as opposed to a ‘nice-to-have’.”
The Eurorepar Car Service franchise is headed by Stellantis Group - formed by the merger of Groupe PSA and FCA Group.
The business launched a new tyre family in 2020. The network brings together independent garages, MOT test stations, authorised repairers and franchised dealers.