WITH Consumer Duty fully in place, leasing brokers are increasingly alert to offer the best possible outcomes for customers.

One area that can trip up leasing customers is over end of lease charges – what is justifiable as fair wear and tear and what is not?

Under new Consumer Duty this is an area that brokers need to address:

A key part of the Duty is that firms need to define, monitor, evidence and stand behind the outcomes their customers are experiencing. This monitoring must enable firms to identify where customers, or groups of customers, are experiencing poor outcomes, and where this is the case firms must take appropriate action to rectify the situation.

New image capture assessment tool for end of lease damage assessment

New on to the market is an image capture assessment tool called Wondle. It eases any end of lease friction by placing the consumer in control say the two developers of the product – Simon Carr and Matt Cranny – who are both former automotive executives at LeasePlan.

So how does it work?

A customer logs onto the Wondle website before being directed around the lease vehicle capturing a series of images. With the images uploaded, the damage is assessed in three minutes against a matrix of seven funder repair cost baskets.

Wondle then offers a cost to fix before return of lease, or whether it is better to leave the damage which will be absorbed in the end of lease allowance.

The point of Wondle is to put the customer in control. End of lease damage is the Achilles heel of leasing. Customers find it difficult to understand what is end of lease damage and what is acceptable. The Wondle system gives the consumer information on which they can then make informed decisions.

Would Wondle work for your brokerage?

Broker News is working with Wondle to provide brokers with a special price:

Introductory pricing (first 12 months)
 
  • 1 month free trial then £166+VAT per month (paid annually);
  • or £199+VAT paid monthly.
 

Contact Simon Carr (Simon@wondle.io) or Matt Cranny (Matt@wondle.io) for further information and to book a demonstration.

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