Raising customer loyalty with Second Life Financing

Industry: Industrial
Customer story

What’s the secret to building customer loyalty for industrial forklifts? When it comes to equipment finance, custom services and quick approvals help keep Linde’s customers satisfied and committed to the Linde brand.

Relationship built on trustLinde
The intimate relationship between Linde and DLL – branded as Linde Material Handling (LMH) Financial Services – is probably the longest-standing industrial finance relationship in the business. All DLL’s Linde account managers work in-house in Linde facilities across the UK.

While independent financial providers, they operate side-by-side the manufacturer’s daily business and are closely integrated into customer discussions. “This only happens where there is trust between both parties. Everything has to be up front,” says David Pitt, General Manager, Used Equipment of Linde Creighton, one of Linde’s main branches in the UK.

This only happens when there is trust between both parties. Everything has to be up front. "
Customer story

Second life economy
A good share of Linde’s business comes from the second life economy – used or refurbished products that are given a second life of usefulness. “The market for used trucks has always been there,” says Pitt. “Customers either don’t have the financial means to buy a new truck, or they don’t have the need.” Pitt adds, “But whether new or used, every customer requires an equipment finance solution to match his specific needs.”

The second life market is an important entry point to Linde
Customer story

Growing together
Pitt adds, “Customer retention drives our business. The second life market is an important entry point to Linde for many of our customers. We grow with them. We have a client who began as a small cash-and-carry business using 12 trucks rented on a week-to-week business. Fifteen years later, he has a manufacturing plant and warehouses and operates a fleet of 40 new and used trucks on a contract hire arrangement financed through DLL.”

Customer retention drives our business. The second life market is an important entry point to Linde for many of our customers. We grow with them. "
Customer story

Fast credit approval for industrial finance
Norgove notes that when financing used trucks for small customers and large fleet operators, fast credit approval is key. The credit acceptance rate across all Linde’s business – new and second life – is one of the highest in the business. Without affecting LMH Financial Services high approval standards. This certainly helps to keep Linde’s customers satisfied.

Blueprint for success
Trust and close cooperation form the blueprint for a successful business relationship between DLL and Linde. By involving LMH Financial Services fully in its daily operations, Linde can offer high quality, custom financing that builds stronger relationships with their customers and healthier revenues for their company.