Asset management is an invaluable aspect that affects the efficiency of your fleet operation. As the year approaches its final stretch, you must assess your fleet assets to determine their relevance in your business. The temptation to keep your older vehicles is irresistible because of the short supply of new ones.
That should not force you to keep everything in your inventory. With 2021 coming to an end, you can put your underutilized vehicles and equipment to use and bring the company more funds.
You should not allow old, dead, or dying vehicles to increase your expenditure or take up unnecessary space. It will be advisable to let them go before 2021 closes.
What Could be Preventing You from Selling Them?
1. Planning to Reuse their Parts
When maintaining your vehicles, replace damaged or old parts with new ones, not old ones. Reusing old parts on other vehicles does not guarantee reliability. The pieces are already weak and old; keeping them longer continues to reduce their dependability.
2. Thought of their Market Value
You might be underestimating the value of your old vehicles. Or even think that they have completely lost their market value. That is not the case; you can find buyers who will see value in every car or piece of equipment. You can connect with them through the right channel and find the best price.
3. Missing from the Inventory Lists
As a fleet manager, don't let lost inventory lists stop you from reselling your old fleet. You can determine a reasonable resale price for your vehicle without having your inventories.
Why Should You Sell Your Old Vehicles and Equipment?
You might be asking yourself reasons to get rid of the vehicles and tools no longer needed.
- Old Vehicles Break Down Frequently: Older vehicles are not dependable. Their continuous use makes them susceptible to breakdowns.
- Free up Space: Old and unusable vehicles occupy space in your garage without any reason. Selling them creates room for new ones.
- Prevents Higher Maintenance Costs: You will spend more funds maintaining old vehicles. That also includes the general upkeep of the car. You can avoid other old vehicle-related problems, like high fuel consumption, by simply marketing them.
According to CNBC, used vehicle prices have increased steadily. A shortage of new vehicles has led to an increase in demand for old used cars. Why not take advantage of this to offload your company off the aging fleet? You have different options to sell your old cars and equipment to the best buyers. Below are some ways to accomplish this before 2021 ends.
Ways to Sell Your Old Vehicles and Equipment
1. Selling to Employees
You can sell an employee their favorite vehicle or piece of equipment. Marketing to your employee fulfills their desire to own one of your vehicles they have been eyeing. These sales happen fast and improve employer-employee relationships.
2. Auctioning
Remarketing experts can help fleet company managers set the correct prices for their assets for a dedicated audience. They use their expertise and specialized knowledge on your vehicle to find trusted contacts at local events. You can retail your old car at a much higher price.
3. Direct sales
You can sell the pieces directly to a customer. Direct sales allow price negotiations and prevent other unnecessary costs like transportation, maximizing your earnings.
It is rare for the automotive industry to present such opportunities. Now is the finest season to utilize them before 2022. You can turn your old vehicles and tools into something of monetary value for your fleet company.
Having Challenges? We Can Help
Here at Wilmar, we understand how challenging reselling your company's vehicle or equipment can sometimes get. The time to sell back your used resources is now. You can contact us to help you find the best reselling solutions for your old assets. It's time to free your garage, make use of the idle assets before the year comes to an end.
