It’s safe to say that we are living through quite extraordinary times. International markets have been subject to swathes of external pressures, from the Covid pandemic to the supply chain crisis, leaving money short and uncertainty high.
Under such unpredictable market conditions, revenue streams can’t always be guaranteed for many fleet operators, whatever their sector. So if you’re trying to equip your business with a fleet of electric vehicles, it’s vital that the process of financing them is as flexible as possible.
That’s where we come in.
Our ZERO platform has helped a wide range of fleet operators navigate challenging economic times, providing a level of flexibility around payments that goes far beyond what is on offer from traditional leasing services.
Let’s unpack how that works and look at some of the different cases where our pay-per-mile financing solution could give businesses greater room to manoeuvre as they look to decarbonise their vehicle fleets.
The main thing separating our FinTech platform from typical leasing arrangements is that we charge fleets for the miles they actually drive rather than a fixed amount every month.
If one of our fleet operator partners clocks up 40,000 miles one month but only 4,000 the next, for example, this will be reflected by a lower bill the second time around. If their mileage drops to zero the next month, they will pay nothing. So rather than having to pay every month for vehicles stuck in the depot, as they would with typical leasing providers, when fleet operators choose Zeti, they can guarantee plenty more leniency during the tricky periods.
For full transparency, we ask that our fleet partners reach a minimum proportion of their forecasted annual miles every six months in order to ensure alignment.
So who could benefit from the flexibility afforded by our ZERO platform?
Whether managing taxis, minibuses or coaches, the pandemic has been tough for private hire drivers. With lockdown restrictions keeping people indoors, many fleet operators in the private hire sector saw drastic decreases in their journeys, practically overnight.
While many businesses had to keep paying leasing providers for their EV fleets during this time, our partners received a massively reduced bill in line with their drop in mileage, helping see them through the most difficult months of the pandemic.
We hope that the flexibility of our financing model will give even more private hire businesses the confidence they need to switch their vehicle fleets to EV. And the ability to track CO2 and NOx savings in real-time adds to the sustainability reporting offering.
Logistics companies are used to encountering some administrative difficulties but the ongoing conflict in Ukraine and Brexit negotiations have put unprecedented levels of pressure on the industry. Delays at the border and supply chain issues mean that some hauliers and last-mile delivery firms are getting through fewer miles than they have done in previous years.Some of these delays are unexpected, making it harder for fleet managers to account for.
Our pay-per-mile model gives them greater flexibility to work around these sudden shifts and, with detailed statistics easily accessible in the ZERO platform, keep a closer track of their fleet’s mileage, as well as the performance of the vehicles themselves. For companies like these who keep track of their ‘revenues per mile’, these detailed breakdowns of the real-time data are especially valuable.
To overcome challenging times, it’s vital for businesses to make themselves as flexible as possible and our platform enables them to do just that when they finance a fleet of electric vehicles. When fleet operators choose our pay-per-mile solution, they know they’ll always have a bit of breathing space, even in the more challenging months.
If you think your business could benefit from our flexible financing when you switch your fleet to electric, get in touch with us today at firstname.lastname@example.org to find out more.