FINN Launches B2B Car Subscription Service in US – PYMNTS.com

FINN has launched its car subscription service for businesses in the United States.
This business-to-business (B2B) service, which is already offered in Germany, allows businesses to access six- or 12-month contracts and dedicated customer success managers, FINN said in a Thursday (Jan. 26) press release.
“Traditional B2B providers in the U.S. and abroad have long underserved small and medium-sized businesses,” FINN Senior Vice President of B2B Jan Hansen said in the release. “We recognize that businesses require a mobility solution that has quick access to inventory, high-touch customer care and is both easy-to-use and convenient.”
Car subscription firms offering an alternative to traditional financing and auto lease options have recently increased. As PYMNTS reported Wednesday (Jan. 25), in the U.S., the subscription company GO has expanded to eight states.
FINN’s B2B offering joins its existing consumer car subscription business that launched in Germany in 2019, expanded to the U.S. in 2022 and is now available in 12 U.S. states, according to the press release.
On the consumer side, the company has found that its car subscription service draws a very broad group of customers. Many are the same folks who would have been looking at leasing but find that the subscription model, while in some ways similar to leasing, offers more value, FINN CEO and Co-Founder Max-Josef Meier told PYMNTS in an interview posted in February 2022.
“It’s definitely true that people like more flexibility and less long commitments,” Meier said at the time. “Maybe 10 years ago, a commitment of three or four years would be absolutely fine for most people. But now for many people, three or four years is quite a commitment.”
FINN’s B2B service is aimed to meet the needs of consulting, construction, healthcare, business services and other industries in which vehicles are needed for fleets or as an employee benefit, according to the press release.
It offers businesses the benefits of no upfront costs, shorter six- or 12-month terms, free delivery and collection of the vehicle, maintenance and roadside assistance, access to advice on fleet needs, CO2 emissions offsets and the availability of electric vehicles (EVs), the release said.
“The introduction of B2B services to the U.S. will help us scale quickly and complement our existing consumer approach,” Hansen said in the release.
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