Zenith gears up to expand personal leasing scheme
Zenith has appointed Joe Doyle as managing director of its ZenAuto personal leasing scheme in line with its rapid expansion plans for the scheme.
Marked out as the leasing and fleet management firm’s first direct-to-consumer car leasing offer, ZenAuto launched in March and is said to feature all leading manufacturers and latest deals, with instant offers providing flexibility on initial payments, length of contract and mileage.
Now, Zenith has said it’s looking to grow ZenAuto to meet increasing demand from drivers for personal leasing options as they move away from traditional ownership models.
It follows latest BVRLA data highlighting that personal contract hire continues to erode the traditional fleet contract hire and leasing market. Figures from the association’s Quarterly Leasing Survey for Q2 2018 show the personal contract hire fleet increased by 12% compared to the same period of 2017. In contrast, business contract hire and finance leasing fell 6.3% year on year to around 917,000 units.
ZenAuto’s appointment of Doyle, the former chief executive of HR Owen, will see him lead a dedicated team of 40 as the business invests for planned growth. It is also recruiting for a wide range of technical and development roles as it expands its online platform.
Tim Buchan, chief executive of Zenith, said: “ZenAuto is designed to make it easy for drivers to find and lease their next vehicle. We think that this, along with an increasing trend to borrow or rent things rather than own them, and the compelling value that leasing offers for many drivers makes for a significant opportunity to grow PCH’s share of the market. We anticipate over one million new PCH agreements in the market by 2022.”