Fleet News

Minor mistakes costing fleets dearly at disposal time

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
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