Fleet News

Fleets could improve resale values by providing usage history

auction cars

Fleets could benefit in both conversions and values through the de-fleet process by providing a little extra vehicle information to dealers to comply with tighter consumer protection.

Auction industry association NAMA has made the suggestion following a recent Trading Standards seminar. 

At a recent used car conference, a Trading Standards Officer reminded a large used car dealer audience that creating a misleading impression about the previous usage of a vehicle. For example, giving the impression that a vehicle has one previous user – through the use of statements such as ‘one previous owner’ – when in fact it is an ex-business use vehicle that may have had multiple previous users represents an offence.

He encouraged dealers to contact previous owners to ascertain more information about a vehicle’s previous usage. The speaker also reiterated the importance of ensuring vehicles were accurately described in all promotional activity.

NAMA’s Louise Wallis said: "We urge vendors to help us to help them by providing full information on service history, usage, repairs and mileage with as much supporting information as possible.

"Accurate information unquestionably helps conversions and where this supports a quality vehicle it can help values as well.”



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Comments

  • Jon - 12/05/2016 12:18

    I already do this but would be further encouraged if there was more benefit to my company (from the lease company) to collate this information and provide it. It has to be worth something but I don't get any financial credit or even a "thank you" ! Anyone have any thoughts on this ?

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    • Denis Keenan - 16/05/2016 15:24

      Whilst admirable, Difficult enough to describe the asset properly coming out of a lot of systems going into whatever remarketing route applies - poor descriptions, options not listed etc is a widespread issue; and a lot sales systems are unable to deal with very good/detailed data feeds when it is available, so adding another layer of data on is near impossible to get out to the eventual buyers (EVEN IF folks were happy to disseminate, which most would not be today).

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