Tips for Maximizing Your Fleet’s Resale Value
Managing an entire fleet of vehicles can be a daunting task for one person or even a group of people. There are so many things to consider and keep up with. When you choose fleet management services, you have a valued business partner to help you with every aspect of fleet operations, including disposal. For example, what happens when it’s time to remarket your cars or vans when they are too old? You’ll want to get the most money from your investment and here are some helpful tips for maximizing the resale value of your vehicles.
Summer May Not be the Best Time to Sell
Many companies still think that summer is always the best time to sell your company vehicles. After all, auction prices tend to be higher during the warm months of the year. When the weather cools off, prices usually start to drop as interest declines. However, after careful analysis (including the history of annual sales) fleet operations experts discovered that economic factors could have a strong effect on seasonal price patterns. This is changing the way many people think about remarketing.
Understanding Seasonal Vehicle Demand
Several things can affect vehicle demand. For example, during February through May, many people have tax refunds to put down for car financing. Major holidays usually affect sales in a negative way. Also, during times of bad weather, few people go car shopping.
Recent studies show that auction sales are usually better during the last part of the first quarter and early part of the second quarter. On the other hand, third quarter sales are usually the lowest, and the worst times for fleet operations.
Keeping Your Cars Too Long
If you keep your cars too long, you lose more of your original investment. You also increase your risk factors because older cars have more maintenance issues.