If you run a business or are responsible for a corporate budget, you know well that a company fleet is a big expense that needs to be seriously considered.
However, operating leasing changes the approach – from “car ownership” to “mobility management”.
For a fixed subscription fee each month, companies not only receive a car of their choice, but also free up funds, as they account for the service as a monthly, rather than capital, expense and thus do not block company funds.
When the contract term expires, the vehicle can be returned, and the company can easily choose a newer, more efficient, or more environmentally friendly one – according to its needs and strategy.
John Saffrett is Deputy CEO of the world’s largest operating leasing provider – Ayvens , part of the Société Générale group.
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The company manages more than 3.4 million vehicles in 41 countries. It was born from the merger of two global leaders – ALD Automotive and LeasePlan in 2023 and has a concrete plan to meet the changes in the field of mobility related to electrification, technology and sustainability.
We spoke to John Saffrett at Ayvens ‘ office in Bulgaria to understand why, after 28 years with the company, he remains enthusiastic about the future of mobility.
For whom are the solutions you offer suitable – are they only for large corporate players, or for smaller companies as well?
What we offer is suitable for everyone. Depending on the maturity of the market, we work with large international clients, large local corporate fleets, small and medium-sized companies.
In some countries we also work with private clients. If I look at the Bulgarian market, I see serious potential in large corporations. But over 50 per cent of our fleet is under 50 vehicles – that is, we are talking about small and medium-sized enterprises, where we see great potential for switching to operational leasing.
Therefore, we need to help the market understand what operating leasing is and what its advantages are.
What are the advantages of operating leasing in the long term compared with purchasing a car?
The market is still oriented towards financial leasing, but I think we can contribute with the expertise we have. The full value of owning a car is far from being limited to the interest rate – how much does it cost to maintain the car, how much does it cost to change the tyres.
For example, thanks to the scale of the company, we buy tyres at lower prices than what a person would pay if they went to a service center themselves.
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We service cars cheaper than if you did it yourself.
We can also offer insurance that is more affordable.
Financial leasing is designed to allow the customer to acquire the vehicle at the end of the contract – after four to five years. However, our observations show that when an internal combustion engine vehicle – petrol or diesel – reaches these four to five years, problems start to appear, parts wear out, and costs increase.
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For small and medium-sized enterprises, the car is of key importance. And that is why an increasing part of this segment in other European countries is switching to operational leasing. Often it is light commercial vehicles that are essential for the delivery of goods, materials or services.
And then the customer says to himself: “I’m paying 350 euro a month for this car anyway, it’s better to continue with a fixed cost of 350 euro a month and get a new car than to face problems if I buy it and then it goes into service – then I won’t be able to serve my customers, deliver my goods or visit my sites.”
We see this development curve in every market – from purchase to financing, then to finance lease type financing and then to operating leasing. I do not expect Bulgaria to be any different, but I believe that this transition will accelerate with the entry of even more investments that we can expect with the eurozone. This will stimulate the adoption of operating leasing and will change people’s thinking.
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Operational leasing is actually one of the first forms of subscription service – you have a car for four to five to six years, you pay a fixed monthly amount, you use it, everything is included except fuel. Then you return it and get a new one.
You have no commitments to buying, selling, or maintaining – everything is included.
And with the arrival of new generations who prefer this particular usage model, this product will become increasingly attractive.
So can we say that Bulgaria is at the beginning of this path?
Yes, I think you are in the early stages of this journey. We have been in Bulgaria for a little over 10 years, and our experience in other markets shows that development is gradual. Sometimes government tax policies or incentives can accelerate this transition.
It usually starts with the corporate sector. Large companies and small and medium-sized enterprises are the first, and then private buyers also show interest.
And this trend will continue, because many corporations will say, “I’m an expert in supermarket management, or in soft drink distribution, or in the pharmaceutical industry. But I’m not an expert in fleet management – so I’ll turn to a professional to do it for me.”
And this is completely logical – in life we always look for the best experts to help us with what we are not strong at.
And I believe that this is exactly what will accelerate the transition in Bulgaria, both to operational leasing and to a more environmentally friendly fleet.
