Fleet News

New remarketing firm aims to boost residuals

A NEW vehicle inspection company has been launched which claims to boost residual values for fleets.

Wiltshire-based Automotive Inspections provides an online vehicle inspection and image service, enabling fleets to e-mail vehicle details for remarketing.

Andrew Bahadoor, managing director at Automotive Inspections, explained how the system worked. He said: 'Clients notify us of vehicles which are due to be defleeted and our team of inspectors arranges to inspect the vehicle in situ at the customer's premises.

'The speed with which the inspection report and images can be sent via our server to our client's website improves vehicle remarketing efficiency and cumbersome and time-consuming paper processes are history.

'The technology enables leasing and rental companies to decide quickly on the status and condition of their end-of-contract vehicles more easily. They can then decide whether vehicles require refurbishment before being sold, or whether they can be offered in their current condition.'

All vehicles are inspected to the British Vehicle Rental and Leasing Association's Fair Wear and Tear Guide. However, additional criteria stipulated by the leasing company or rental group will also be included in the inspection report.

Bahadoor said: 'The technology ensures vehicle wear and tear report consistency and online reports mean vehicles can be transported direct to refurbishment centres or the point of disposal at the time of defleet. A vehicle standing still is losing money.

'Maximising residual values is a key issue for leasing and rental companies and the quicker and more efficient vehicle inspections are, the speedier end-of-contract vehicles can enter the disposal chain and companies can realise the value of their assets.'

The firm offers nationwide coverage for fleets and uses Advanced Vehicle Inspection Data, which provides the images and reports and enables fleets to view inspection information online.

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