Fleet News

Vehicles without full service records lose thousands at auction

Non-maintained fleet and leased vehicles which are presented at auction without a full service record, are losing up to £390 per vehicle and up to 5% of their value, according to G3 Remarketing.

G3 Remarketing estimates that up to 12% of non-maintained vehicles go to auction without a complete service record and this is resulting in a loss of thousands of pounds of profit for fleet companies.

Tom Marley, head of operations at G3 Remarketing said: “To put this in perspective, if a fleet or leasing company disposes of 5,000 vehicles per year, of which 5% have no full service record, they could face losing £97,500 annually. 

"It goes without saying that dealers will pay a higher price for vehicles that have been properly maintained.

“In the past, we have seen hundreds of vehicles presented with missing MOT and service data and some have no service record documentation at all.

"We see the greatest drop in value for Land Rover and BMW models that are presented without a full service record. 

“Within the last month we have seen identical Land Rover Discovery 4 models – 2 years old, one with a full service history and one without.  The vehicle with the full service history fetched £2,450 more at auction.

"We have also noticed, on average, a difference of £425 in 5 series BMW models that have a full service history.”

 


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Comments

  • Patriot - 22/08/2013 22:25

    I used to be employed by accompany that purchased ex-fleet vehicles. I've lost count of the number of times I've had to ask pretend fleet managers for service records, second keys and missing parcel shelves and/or spare wheels (where supplied as OEM) I was offered computer print outs instead of service books, copies of MOT documents and on several occasions emails listing what services had been carried out but without any supporting documentation. The responsibility for ensuring full values for company vehicles should also be the responsibility of FD's as well as FM's.

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