Asset Sales expert
Selling fleet vehicles quickly while achieving competitive resale values is one of the leading challenges for fleet managers. Depreciation, high mileage and wear and tear all harm a business’s bottom line, as do the logistics of moving the vehicles from one location to another and the challenge of finding qualified buyers.
But selling fleet vehicles doesn’t have to be an uphill battle. With the right help and a few clever strategies, you can make the disposal of your vehicles an efficient part of your fleet management lifecycle. Here are a few tips to simplify the process and drive those resale values.
Timing is everything when you’re renewing your fleet. We all know how damaging depreciation can be, but it’s not linear. There are points when a vehicle suddenly becomes ‘old’. It may be a year, a mileage number or a change in body style.
For example, 100,000 miles is a so-called value cliff for some vehicles. If you think a vehicle that reaches that mark is nearing the end of its useful working life, you can bet potential buyers are thinking the same thing. The result is a significant fall in value.
Understanding where the so-called value cliffs are and selling vehicles a year or two before they reach them can help to preserve value. Knowledge is power here, as value cliffs are different for every vehicle. So, do your research or obtain a free asset appraisal from our commercial vehicle auctions team to determine the optimum time to sell.
Making a small investment in reconditioning before corporate fleet vehicle sales can go a long way. We’re not talking about expensive improvements, but taking these simple steps can disproportionately boost demand and resale values:
Repairing any cosmetic damage
Thorough cleaning inside and out
Touching up the paintwork
Removing non-standard equipment
Removing logos and branding elements
Collating all documents, including service history, MOT certificates and logbook
This critical phase will show that the vehicles are well maintained and maximise the value of your assets.
Maximising the resale values of your fleet vehicles is a long game that starts when making the initial purchase. You must choose fleet vehicles that people want to buy in the first instance. Whether it’s private individuals or other businesses, investing in vehicles with mass appeal and low depreciation will protect that residual value.
There’s a lot to consider here beyond make and model. Things like the powertrain (petrol, hybrid or electric), transmission (manuals are falling out of favour), the various specs and trims, vehicle tech and even the colour all have an impact.
Often, it’s the cosmetic features that influence resale values the most, particularly among private buyers. So, look for panoramic roofs, leather seats, alloy wheels, attractive dashboards and other features that catch the eye.
You must also factor in fuel economy and the cost of insurance and maintenance to find vehicles that tick the relevant boxes. Vehicle appraisal specialists can help you determine what resales values will be three or five years down the line.
300+
auctions conducted yearly
£6.2m
worth of lots sold last year
26,000+
buyers in our network
Online auctions are one of the most popular ways to sell fleet vehicles. Test drives are not usually allowed due to the risk of damage, so in their absence, it’s worth conducting a presale inspection.
A presale inspection checks for any mechanical and structural deficiencies that should be disclosed to prospective buyers, giving them far more confidence than any test drive. And many auctioneers can arrange one for you. Presale inspections remove some of the risks associated with buying at auction and can increase demand and resale prices.
You have lots of options when deciding how to sell fleet vehicles. Some companies sell them to employees, while others attempt to sell them privately on popular vehicle sale sites. However, both methods have their pitfalls, including the time and admin required and the risk of the transaction going bad.
Another way to sell fleet vehicles is through a trusted auction partner. Rather than you having to value and market the vehicle, handle customer queries, coordinate inspections and navigate payment methods, an auctioneer will do the hard work for you.
They can access a vast database of would-be buyers and market the vehicle more widely to get the best possible exposure. They also create detailed listings, respond to queries and manage the presale, live auction and post-sale processes on your behalf.
Online auctions are also fast and easy to set up, so you can liquidate the vehicles quickly. With demand for used vehicles at a record high, competition between bidders can drive the price beyond the level you might achieve through a private sale.
At Eddisons Asset Auctions, we provide online commercial vehicle auction services for individuals, small businesses, large corporations and insolvency practitioners. We conduct professional valuations, market your fleet vehicles on your behalf and can handle any asset, from cars and vans to HGVs, tractor units, trailers and other light commercial vehicles.
Find out more about our asset selling service and get in touch for a free vehicle appraisal.
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