Tusker has launched ‘driver finance’ to help drivers fund the purchase of their car at the end of their car benefit scheme agreement.
Currently, all Tusker drivers have three options at the end of their, typically three-year agreement. They can simply hand the car back, they can stay in the scheme and order a new car, or they can buy the car.
Previously, drivers have had to arrange their own finance to complete the purchase, but Tusker is now partnering with Alphera Financial Services to provide an alternative for their drivers.
The new scheme will offer a variety of different finance options to enable drivers to keep their current vehicle and continue with monthly payments.
David Hosking, CEO of Tusker, said: “The majority of our drivers renew into another brand new car at the end of their contracts. For those that don't we are delighted to offer the option to buy their current cars at a reasonable fixed monthly cost.
“Drivers become attached to their cars and often want to keep them, either for themselves or for a member of the family; so it makes perfect sense to purchase the car as they know its full history.”
Tusker Driver Finance will be available to employees whose car has come to the end of its agreement. It is also available for drivers who early terminate their contract. If a customer leaves their existing role and moves to another company they can now keep their car.
More than 7% of drivers currently purchase their car at the end of their Tusker agreement, and the company expects this number to double within 12 months of launching this new finance scheme.
Hosking concluded: “The driving force behind everything we do at Tusker is to make our drivers happy, so this product is the perfect addition to our services – enabling our drivers to keep their ideal car for even longer.”