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REMARKETING: Time to sell?
Date: Friday, May 25, 2018
Online, outright
Recent years have seen the appearance of companies who will, after an initial online valuation followed by physical inspection, buy the vehicle outright. The advantages to the seller are clear: a quick, easy and trouble-free transaction. As the business model of these organisations generally relies on profit made at auction, the offer made will often be significantly lower than that anticipated by the seller, especially when comparing advertised sale prices for vans similar to their own.
However, for those who want the quickest sale with the least effort, it may well be worthy of consideration.
Highlighting potential pitfalls of a private sale Richard Evans, head of technical services at WeBuyAnyCar.com and sister brand WeBuyAnyVan.com, tells What Van?: “Selling the company van privately could generate the most amount of money for a small business but the downside is the time it may take. Most small businesses will want to focus on their day-to-day work, rather than dealing with strangers who may want to buy their van but will haggle on the price. In addition, there are the associated advertising costs when selling privately and no guarantees that a buyer will be found.”
Recognising the specific needs of the SME, Evans says: “We can collect vans from business premises, as we understand it’s not always possible to bring trade vans into branch for appraisal, especially if an SME is looking to sell a small fleet.
“We also aim to go above and beyond, offering added extras, such as finance settlement and decal and logo removal, which can take precious time, when all a business owner wants to do is get into their new vehicle and back to work as quickly as possible.”
Contract hire
The issue of vehicle disposal can be eradicated by acquiring vans on a contract-hire basis. At the end of the agreement the vehicle is collected by the lease company and, as the operator has no title, that’s often the end of the matter. While the prospect of a fixed holding cost may be attractive, what may put the SME off leasing is the prospect of end-of-contract charges for damage to the vehicle that fall outside of what is considered fair by the finance company.
Hammer Time? Duncan Ward, BCA’s LCV operations director, outlines the advantages of selling at auction…
- Logistics of moving a van that may now be uninsured or untaxed: “A team of trade plate specialists handle single-vehicle collection.”
- Preparation and valet: “Vehicles looking their best attract significantly higher buyer interest, leading to more first-time conversions and an improved sales performance… improving stock churn and cash flow.”
- Setting a reserve: ‘“Condition, age, mileage, configuration, payload and power all come into play when valuing. Auction firms use big data to set reserve prices, factoring in daily price movements, demand patterns, pipeline supply and retail demand.”
- Payment: “Guaranteed, secure payment to the seller within five working days of the sale.”
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