DLL launched a Lease by the Hour solution in the U.S. market. As the newest addition to DLL’s Fleet Centric SM Leasing solution suite, Lease by the Hour is designed to provide customers with a flexible usage-based solution for saving money when financing equipment.
This usage-based offering eliminates overage charges by offering flexible options to either return equipment early if it is highly utilized, or pay on a month-to-month basis at a discount off the original minimum payment. If there is no usage over the monthly minimum hours, the lease functions exactly like a normal lease and will run to full term based on these minimum hours, after which the equipment can also be turned in or extended on a month to month basis as long as the customer and their maintenance provider wants.
“Lease by the Hour solves a couple of key issues facing equipment users,” said Theo Rennenberg, VP of Global Fleet Asset Management at DLL, “mainly the close matching of the equipment lifecycle to the lease term, which streamlines equipment replacement cycles and decreases overall maintenance expenses. Flexible lease products like Lease by the Hour match the ebb and flow of our customers’ business cycles and are a breakthrough in our industry.”
The introduction of Lease by the Hour aligns with DLL’s ‘servitization’ offerings, under which manufacturers have more sophisticated usage-based options instead of the traditional approach of selling equipment outright. This allows customers to take advantage of a flexible lease term to get the service they want, and use the equipment to the most efficient levels when they need it, eliminating obligations and costs associated with outright ownership.
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