The use of long-term vehicle rental software can bring many benefits to the lessor. An adapted IT solution will give you the possibility to manage your long-term rental activity in an optimal and personalised way.
Long-term rental software, the tool for a sector that is not in crisis
We will discuss in the second part of this article the benefits that the use of long-term rental software can bring you. But first, here is some interesting information about the long-term rental sector.
Key figures for LLD (Location Longue Durée – Long-term rental) in France:
- Approximately 6 billion euros of turnover (INSEE 2013 data)
- The number of LLD vehicles put on the road has been increasing for 12 consecutive quarterly terms
- 494,219 vehicles put on the road in 2016 (SNLVLD data)
- Nearly 1,300,000 LLD vehicles in circulation at the end of 2016
- Average contract duration in 2015: 39.7 months
- Distribution of LLD players in 2015: 45% car manufacturers, 43% bank subsidiaries and 12% self-employed
- In 2015, LLD means 1,123,591 tires and 468 million litres of fuel consumed. The long-term rental sector is doing better than ever and still has a bright future ahead.
Some of the features that high-performance long-term rental software can provide you
Acquire long-term rental software means you can manage your business with greater flexibility and precision. Here is what a complete long-term rental software can do for you:
- Precise calculation of the residual value of your vehicle. As soon as you put your vehicle on the road, you know its residual value. You are therefore assured of controlling the profitability of the latter.
- Provision of a long-term quotation tool that allows you to communicate precise estimates to your customers and to forecast the residual value of vehicles according to the terms of the contract (rent, mileage)
- Free choice of invoicing frequency
- Generalised invoicing. If one of your customers has 20 vehicles in LLD at home, you can invoice them all at once using the long-term rental software. You can define invoicing rules specific to each of your customers.
- Possibility of invoicing various services simply by integrating them into the rent (maintenance package for example or maintenance and occasional repairs) or by invoicing them separately
- Possibility of invoicing additional kilometres by the year, by the quarter or even by the month for your customer’s entire fleet
- Mileage sharing for the same customer. For example, if vehicle A of the customer drives 1,000 km less than those included in the contract and vehicle B of the customer drives 1,000 km more, then the customer does not pay any additional km
- Calculation of schedule and rent increase. You can give your client a schedule at the beginning of the rental period over the entire duration of the LLD contract, which takes into account any rent increases
- Management of SEPA direct debits with the edition of a file meeting current banking standards and automatic posting of your entries in the accounts.
- Automatic alerts on maintenance. You have the possibility to configure an automated email sending in order to communicate to each of your customers a listing indicating which vehicles they must have maintained, for what reason and when.
- Management of bridge loans. When a customer’s vehicle is immobilised for one reason or another (breakdown, maintenance, accident), the software allows you to manage the loan of a relay vehicle that takes into account the kilometres driven with it in the LLD contract.
- Analysis and statistics centre. The long-term rental software provides you with complete and detailed analyses to better manage your activity. You can have access to a very large number of indicators. For example, you can calculate the profitability of your vehicles based on the number of kilometres driven and the average age.
Rely on experts for the acquisition of your long-term rental software
At hitechsoftware, we have been developing the myrentcar car rental tool for more than 30 years, a long-term rental software but also a short and medium-term one. Rentcar meets all the challenges of the long-term rental sector and has already attracted renowned players in the sector who currently manage several thousand long-term rental vehicles.
Working with us means choosing a partner who knows your business and is able to support and advise you in your daily activities. Our teams are available and responsive to ensure that each of our customers receives a personalised service in accordance with their needs and requirements.
Like more than 3,000 users today, you too rely on our solutions to increase your potential.
If you would like more information, you can contact us here to participate in a free online demonstration of our tools.