Remarketing your fleet vehicles
When the time comes to part with your current fleet vehicles, there are a number of options you can take. Known as ‘remarketing’, it’s important to know which is right for you in order to get the best value out of your fleet.
Be fleet footed when it comes to parting with your vehicle
Before you look at reselling, there are a few things you can do to ensure a smoother process.
A well-presented van is easier to sell - a clean and well-presented vehicle, complete with a full service history and long MOT, makes a vehicle easier to sell and obtain a higher value (dependant on the overall condition, age and mileage).
It is important that vehicles have a service book, spare keys and a spare fob as it can be expensive and time consuming to get replacements. The less work that a dealer has to do to sell a vehicle, the better. Pre-sales preparations ensure that vehicles look their best and standout from the crowd.
Damage – before you part with your vehicle you may want to consider whether it is worthwhile carrying out repairs to the vehicle. For example, if repairing damage adds only £200 to a car’s value but costs £300 to make, then obviously it would not be worthwhile. However, remember that a damaged vehicle may be hard to sell in the long run.
Watch the market - keep your eye on the company car and van market. Sometimes, there may be a shortage of quality stock and this could be a good time to resell. Consider the time of the year when you are selling a vehicle, as certain cars and vans will sell better at different times. Remember, December and January are normally not the best time for selling.
Time is money – holding onto vehicles for too long could see their values drop. Make sure you move vehicles on quickly to ensure you get money back promptly.
Methods for selling
If you own your vehicles outright, then you can sell privately or part exchange.
Private selling can take time and involve disruption to your working day, but normally it offers the best value. With Part Exchange, on the other hand, you may not get the full value you’d expect, but it minimises hassle and loss of time.
If a vehicle is not owned outright, there are generally two options open when it comes to remarketing:
Remarketing at trade - vehicles that have not been purchased outright can be remarketed via a wholesale vehicle auction such as British Car Auctions, Manheim Car Auctions or SMA Vehicle Remarketing. As part of the auction, vehicles will usually be sold to second-hand dealers who will then sell the vehicles onto consumers.
Remarketing to drivers or employees – business owners with a vehicle reaching the end of its lease term may wish to make it available for purchase to its current driver or another employee within the business. This can benefit both the fleet and the vehicle leasing company because it will reduce time required to sell the vehicle and the cost of marketing it.