MINOR mistakes by fleet decision-makers are slashing hundreds of pounds off residual values, industry experts have warned.
Manheim Auctions has compiled a list of the most common errors made to help fleets correct mistakes.
He said: 'Fleets will see their disposal profits increase quite considerably if they take notice of this checklist, however many cars they dispose.'
Top disposal errors
Not realising the importance of preparing vehicles to the right standard
Not understanding the market and holding out for too much money and losing in the long run, or selling cars too cheaply privately
Selling a car without all its relevant paperwork, including MoT. Spending £30 on an MoT can be worth an extra £150 in residual value
Selling the car without a V5 form. This will reduce the number of buyers prepared to bid for the car by 90%
Not getting franchised dealer servicing on prestige models
Not getting a car serviced or missing a major service. This will affect the resale value
Holding out for the last £25 or £50 and losing the chance of getting the car sold and money in the bank
Letting cars filter into auction without organising a branded section to keep up a vendor's profile
Not attending auctions enough to keep ahead of what the market is paying for cars
Relying too heavily on the industry value guides
Source: Manheim Auctions