Rus News Journal

Innovative leasing

the Russian market of granting of cars in leasing grows fantastic rates - on 200 % a year. Since January on it the new segment - operative leasing has had time to grow. Moreover, there were large western players in the autumn. One problem: potential clients “ insufficiently well understand innovations “ also are afraid of a deceit.

Alexey Jaushev, the representative of the small company “ Balmos “ engaged in a cargo transportation, has told that when the small park from ten automobile cars was required to create its companies, he has chosen Ford Focus. In running on the right to transport two heads of the company of Nissan Primera took upwards over Peugeot 406 and Volkswagen Passat.

After the company has understood with structure of the future motor car park, there was a problem to define pattern of ownership of cars. Certainly, they could be bought on own means or to take the credit, however, having weighed all “ for “ And “ against “ the company has decided to consider other variant of a solution of a problem. “ we fluctuated between purchase on credit in the full property and operative leasing “ - Alexey Jaushev explains.

Calculations have shown: on leasing the company monthly would pay for Nissan on $430, and for Renault - on $300 more than if the car was in the company property. Have considered, appear, all potential costs: from cost of gasoline to tax benefits. The company could go even on such expenditure, however there was no trust to lizingodateljam.

“ Promises lizingodatelej to incur formation of park to me personally have not seemed convincing, - mister Jaushev tells. - the risk is too great that about you will simply forget. And after all relations with the leasing company enter not for a week, and for some years “.

As a result of the car have been got on credit, and one of managers “ Balmosa “ Began to be engaged in motor car park monitoring.

the Described events occurred in the early spring 2004 - go. For half a year, according to representatives of the leasing companies, the situation has essentially changed: in the market there were new foreign players therefore the competition has become tougher and, as consequence, conditions of leasing schemes have changed.

Time of changes
In struggle for the client lizingodateli have gone not only on depreciation of services of leasing, but also on simplification of procedure of the conclusion of the transaction (the size of advance payment in many companies this year has decreased with 30 to 20 %). Moreover, they aspire to incur a part of problems on service of cars, that is to pass to operative leasing. According to the general director of the company “ Hertz - St.-Petersburg “ Oleg Abramova, “ direct dependence between dynamics of development of business and a demand of automobile leasing is available: That at domestic business the understanding of technologies became more flexible affects, and it is opened for perception of innovative decisions. The leasing companies with experience acquisition began to approach more professionally to an estimation and minimisation of the risks, many have essentially simplified procedure of registration of the car in leasing “.

Russia now in many respects repeats a way of the western countries. “ the scheme looks simply, - the general director of the company „the Fifth Wheel Management” Sergey Zykov explains. - At first the new company starts to pay to employees a cost of transportation, then buys cars and when them becomes too much - involves external management: following cars undertake in financial leasing, and then and in operative “.

- that is granting under this scheme of cars with their full the subsequent the service - before recent time in the Russian market two companies were engaged in Operative leasing only: Volkswagen Group Finance and “ Calvin “ (“ Rolf - Leasing “) .

- it is primary “ Rolf - Leasing “ was engaged in a car lease, but in 1998, with an exit of the law on leasing, the company was reorientated exclusively to it, - the head of a sales department Alexey Kulikov tells. - We work with all marks presented in a group of companies “ Rolf “ (Mitsubishi, Audi, Mazda, Volvo, Ford, Hyundai). We consider that operative leasing perspektivnee the financial: he allows our clients not to think of problems of a motor car park and to concentrate on the decision of the profile problems. However, this service not the cheapest. So, at financial leasing the abstract car at the price of $10 thousand rises in price on 12 %, and at operative leasing - on all of 70 %. However, here it is necessary to consider and that cost of financial leasing does not include repair, replacement of rubber and the insurance. While the western companies which have got used to this type of service co-operate with us basically.

This autumn on the domestic market of automobile leasing large French company ALD has come.

- After studying of the Russian market we have come to a conclusion that it has ripened for operative leasing, - Alexey Volodin tells the deputy director on company ALD operations . - as the Basic objects of leasing in Russia cars of level of Ford and Renault by which there go ordinary employees and the lowest layer of managers all the same act. Operative leasing is, of course, more expensive financial though to compare them not absolutely correctly: cost of the first develops only of systematic payments for cars. As to operative leasing here expenses pay off on two groups: payments of the price of the car minus residual cost (the car will return to lizingodateljam) and expenses for service, the insurance, repair. Therefore the total price strongly varies. Each time is different size. For example, the price of operative leasing can fluctuate depending on what run is put on the car, in what region it will use, what engine of volume on it is established also what brakes.

While services ALD are slightly more expensive, than on the average on the market (where - that on 7-12 %), and the Russian companies are not strongly disturbed by arrival of foreign competitors.

- I Think that our offers are now more attractive, - Alexey Kulikov makes comments on a situation. - All the matter is that we work in system of a group of companies: therefore we can offer clients more flexible conditions. For example, we can always give the car for the period of long repair, give hardly the big discount for service through the centre for the client with whom we are connected by long relations.

This point of view is divided also by the assistant to the general director of Volkswagen Group Finance Vladimir Martjukov: “ To “beat“ the western schemes in Russia, half a year - is necessary year, and the market here is so great that the place while suffices all “.

However foreigners consider that competitive advantages on their party.

- Such companies as ours, favourably differ from already present on the Russian market at least that are not adhered to any concrete brands, - representative ALD speaks. - We are ready to give out to our clients on a turn-key basis practically any car and to incur its service entirely. We have enough wide experience on work with leasing schemes which leans against the practice applied in the Western Europe.

growth Problems
According to professional managers motor pools, the situation with operative leasing at present far not so is cloudless, as it is drawn by representatives of the leasing companies. This service while is a little accessible in regions where the network of the service centres is badly developed. “ to enter the market of operative leasing it is possible first of all through service “ - mister Martjukov from Volkswagen Group Finance considers.

- Now we work only in those regions where there are our service centres, - Alexey Kulikov from " tells; Rolf - leasing “. - to Risk and begin work with other services we do not want, therefore we co-operate exclusively with the. Development of leasing schemes in regions occurs only in parallel development of the service centres and dealer networks.

However presence of the branched out network on service of cars - not the biggest obstacle to development of leasing of cars in Russia. The main difficulty - mistrust of potential clients to lizingodateljam: They always have fear that lizingodatel in due course will start to increase a payment for motor car park maintenance in norm, and it becomes disproportionate high in relation to srednerynochnym to the prices. There is an effect of a complete dependence of a motor car park from lizingodatelja which is free to vary cost of the services, in due course more and more it increasing. Certainly, it is possible to take away a part of functions at lizingodatelja (if it is provided by the contract), but such procedure long and expensive enough.

the risk for those companies which have large park of cars is especially great, but have no possibility to watch expenses on each car. Management companies recommend to work at the big motor car parks not with one, and - that always it was possible to compare cost of their services to the several leasing companies. As to take in leasing of 100 cars from one company there is no economic sense.

- As a rule, the maximum discount (about 15 %) is reached, when in leasing 50-60 cars undertake, - tells Sergey Zykov from “ the Fifth Wheel Management “. - Further the discount does not grow. Therefore at formation of a large motor car park it is recommended to take cars in leasing from the several companies, thus keeping a discount and having possibility to threaten with the termination of cooperation in case of rise in prices of one of the companies in comparison with others.

the Main lack of operative leasing there is its youth. For this reason it is difficult to speak not only about standards and a degree of service, but even about the price and additional options. “ while we do not know firmly, we will work how on places. Where - that, probably, it is necessary to leave the flit - the manager and where - that will enough support telephone contact to company management - I cannot precisely tell " yet; - Alexey Volodin admits.

the Head of management of corporate sales of a group of companies “ the Auto world “ Alexey Pospelov considers what to speak about creation of the market of operative leasing in Russia in general while early.

- It is possible to speak about preparation for formation of the market of operative leasing, - mister Pospelov explains. - we also go by the way of expansion of sphere of services for our clients. Have started to put cars on the account in traffic police, have prepared offers on rubber storage, a transfer of cars in regions, to granting of cars - replacements by repair time. While such offers find demand basically at the companies with the western capital. Here have just prepared the offer for Danon - cars of ordinary employees leave in financial leasing, and for the top echelon of managers is both exchange cars, and the included service, and other possibilities. As a whole, to start to use effectively such tool as operative leasing, there should be a special culture. While cases when the company comes are frequent and declares that its cars pass in a year of 33 thousand in km, and at check it appears that 55 thousand Therefore even such at first sight simple western norm, as restriction on kilometric area, in Russia while to enter very difficultly. Hence, lizingodateljam to have to incur the additional risks connected with maintenance in norm of a motor car park.

It is available the mutual distrust fact between lizingodateljami and lizingopoluchateljami. Neither those, nor others are up to the end yet ready to full transition to operative leasing schemes. However, figures say that the tendency of growth of this market is traced obviously enough. Following the results of last year the increase in quantity of leasing transactions on automobile and malotonnazhnym to cars has made 214 %, on cargo - 86 %. This year as consider lizingodateli, figures become even more.

By estimations of the company of Volkswagen Group Finance, the total amount of leasing transactions in Russia makes an order $2-2,5 mlrd (taking into account transactions on the equipment). To understand, how much it a little, it is possible to look at other figures: in Russia from sold new cars only 4-5 % are got in leasing (for comparison: this figure in the USA fluctuates within 40-50 %, and in Poland makes an order of 80 %). As a whole the leasing share in total amount of got basic means makes 9-15 %. In Europe it comes nearer to to 40 %, and in the USA and Great Britain exceeds 60 %.

- to the Market is where to grow, and it is compelled to be formed very quickly, - Vladimir Martjukov considers. - to what in the West came decades, accustoms to Russia for couple of years.

property Variants
There are some variants of formation of a corporate motor car park: Purchase of cars, rent, the credit, financial and operative leasing.

an economy Variant at purchase of cars on credit only one - discount reception in salon. To the large corporate clients getting at once of some tens of cars, can give a discount to 20 % or improve credit conditions.

All questions on motor car park operation lay down in this case on shoulders of the buyer. It should or get the motor transportation service, or to result in the company of the external managing director.

basically representations of the foreign companies use Rent of corporate cars. Rates of rent for legal persons are comparable with rates of a car lease with drivers across Moscow for long term (for example, Mitsubishi Carisma - $60-70 in day). In this case the rent company completely incurs all questions under the park maintenance: from a parking before granting of the driver and podgona the car daily in a proper place.

Financial leasing is quite comparable with rent - car cost is paid by parts systematically on all term of leasing (from 1 till 4 years). However leasing possesses a number of important advantages: the taxable base of the enterprise from - that the car is not registered on its balance considerably decreases, and formally remains the property lizingodatelja (the tax to property and profit is saved), schemes of the accelerated amortisation that is impossible in case of car purchase on credit also are applied. The accelerated amortisation allows the company to write off faster the basic means for expenses and by that to deduce them from taxable base. Besides, at financial leasing lizingodatel registers statement of a vehicle and its registration in traffic police. But the park maintenance in this case all the same remains a company problem.

Operative leasing successfully combines in itself advantages of financial leasing and external management. At operative leasing the car not simply remains on balance of the leasing company - lizingodatel continues to carry out service, technological, administrative and logistical service. Except the tax advantages set forth above, lizingodatel supervises service, statement on the account, car repair, its refuelling, and sometimes even a parking. As a rule, the leasing company closely co-operates with many motor shows and receives for the clientele of a discount for cars and the insurance. The rate of operative leasing essentially above the financial. The car price in this case develops of two components: the sums of repayment of cost of the car and the price of its maintenance which can vary depending on volume of repair and service works, and also car run.