Alphabet GB has launched Alphabet Motion, a new Personal Contract Hire (PCH) platform developed to suit corporate customers who've opted to take cash instead of a company car.
The new platform was built in response to a shift in demand witnessed by the firm for personal leasing over the past year, which has seen typical company car drivers move to cash alternatives.
Gavin Davies, general manager Customer Account Management at Alphabet, said: “Historically, we’ve focused on developing services primarily for businesses, so expanding into Personal Contract Hire is a significant and exciting step for us. We spotted the demand and gap in the marketplace for PCH at the start of 2020, and this has continued to grow throughout lockdown, making now the perfect time to launch Alphabet Motion.
“A customer has already described the new platform as a ‘breath of fresh air’. Alphabet Motion is another example of how we are continuing to adapt and innovate at Alphabet, to meet our customer demands and to support our ambitious business growth targets.”
The new platform provides both Personal Contract Hire (PCH) and Credit Sale Agreement (CSA), giving customers access to a range of offers on a variety of makes and models.
As home working has become the norm, Alphabet says drivers require more flexibility and shorter lease options, while a change in perception around monthly usage contracts has seen people become more comfortable with the idea of PCH.
Alphabet believes its new platform provides corporate customers with tax-efficient funding methods that sit outside of BIK, as well as flexible and reliable leasing solutions for vehicles.