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Published on 24/11/2023

Split payments in the automotive sector to support your customers

Ten percent! That’s the increase in the cost of vehicle repairs in 2022, according to IDGarages1.+ With extended delivery times for new vehicles, the whole sector is being affected, and the prices of second-hand vehicles are soaring. Therefore, between rampant inflation and declining purchasing power, motorists are increasingly hanging on to their cars. And this means increasing maintenance bills. 


As a service provider in the automotive sector, you can find a double benefit: supporting your customers and increasing your turnover, by providing payment solutions that are no longer just reserved for acquiring new vehicles! Find out how payments are no longer a problem, but are becoming the solution. 

Split payments in the automotive sector to support your customers Split payments in the automotive sector to support your customers

The automotive market under pressure: financial consequences for consumers

Car purchases slowing down

The 2020 health crisis has left its mark: we no longer know whether to greet each other with a kiss or just bump elbows, and new car sales fell by 22% in Europe in 2021, according to ACEA(2) (European Automobile Manufacturers’ Association). The result? Between 2020 and 2022, sales have decreased by approximately 30%, compared to pre-crisis levels. Semiconductor shortages, soaring costs of raw materials and energy, stricter European environmental standards… People no longer want to throw things away!

And France has not escaped this phenomenon. “Structurally we’re in a market that has fallen by one third in volume since 2019,” says François Roudier, communications manager for the PFA, the automotive platform(3). The secondhand market has also seen a fall. After taking off in 2021, it contracted by over 10% in 2022 (according to data from the consultant NGC (4)). And the situation has not spared the motorcycle market either.

The automotive market under pressure: financial consequences for consumers

An increase in maintenance and repair budgets

Faced with this difficult situation, motorists are adapting. Their vehicle maintenance budget is increasing, for several reasons:

  • They’re keeping their cars and motorcycles for longer;
  • Their complex vehicles require maintenance at garages and dealerships
  • Vehicle safety inspections are getting stricter, requiring professional follow-up to respond to them.

Additionally, numerous alternative forms of mobility have been developing. The rise of electric bicycles is one: in 2021 their use jumped by 28%, according to figures from Union Sports et Cycles(5). And in addition to these, there are also electric two-wheelers (scooters, etc.) and rentals of such vehicles, which are also growing.

Essentially, consumption habits are changing, and we have to adapt to them!

This is what many players in the field are doing, against the background of an aging car fleet. At the forefront are manufacturers, dealers and mechanics, who are providing payment solutions in instalments for purchasing new vehicles, of course, but also for their maintenance!

Payment in instalments for cars: how to spread out costs

The study we conducted in 2021 with Kantar reflects consumers’ interest in paying in instalments: 37% of motorists have already used deferred payments(6). Spending in the automotive sector ranks fifth among the categories of purchases paid for in instalments.

So are you ready to take the leap? We reveal a new payment method that will simplify your sales!

Payment in instalments for cars: how to spread out costs

FLOA payment in 3 or 4 instalments: quick and simple to set up

In our twenty years of activity, we have created a very simple solution, allowing your customers to pay for their maintenance bills in instalments. It’s suitable for all invoices, from a few dozen euros to several thousand, and is set up very simply, by asking for just one thing from your customers: their bank cards.

Why has this solution been so successful? Because it’s quick and easy. It’s suitable for all players in the mobility and automotive market: garages, dealerships, stores, etc. You just need internet access via a computer, tablet, or smartphone. The customer gives you their contact details (surname, first name, address, email and bank card number), they immediately receive an email or an SMS with a payment link, and that’s it.

Their payment in instalments is confirmed.

FLOA payment in 3 or 4 instalments: quick and simple to set up

Why choose FLOA as your split payment solution?

First of all, because our solution is simple and fluid. Payments are validated in just a few minutes. It has never been as easy to pay for the maintenance of your car in instalments. It also works for paying for electric scooter rentals, or maintaining motorcycles! In fact, it works for everything.

And also, because it contributes to growing your business. Payments in instalments are a powerful tool for supporting your customers, whilst increasing your turnover. In short, it’s a win-win solution, where everyone benefits: your customers, and you as a professional, because you ensure your cash flow. When your customer choses to pay in instalments, you are immediately paid in full. FLOA takes care of the rest.

And, last but not least, because we are the pioneers of payment in instalments. One out of every three split payments in France goes through our services, and we support over four million customers in Europe.

Always seeking to continuously improve our offering, we have surveyed our users. The verdict was very positive: we were voted customer service provider of the year 2023 in France in the “Payment Solutions” category. On the service provider side, numerous garages and spare parts sellers trust in us: Oscaro, Point S, Suzuki, and more. So are you ready to make life easier for your customers?

Paying for car maintenance in instalments is a simple solution to offer to your customers to help them deal with their costs. FLOA supports you with a fast, fluid, and 100% digital experience. You can even extend up to payments in four instalments, if needed.

Would you like to offer this solution so that you can retain your customers and attract new ones? Contact us. Our dedicated team will be happy to talk to you.

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Would you like to try the FLOA Pay offering? Contact our teams for a live demo of our service!

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Welcome to the FLOA Pay blog!

Welcome to our blog! 

This blog has been designed to support you on a daily basis. We analyse payment trends, share best practices from all our partners, and inspire you with amazing projects! All this at FLOA!

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