DETROIT – Managing a fleet of vehicles is not always easy, especially when you decide to buy and not lease. Vehicles are depreciative assets, and the more you drive them, the less residual value they have. That doesn’t mean that they don’t have value anymore, however. There are still ways that you can recuperate some of the money you spent on these vehicles and cushion the blow. Here are a few things you could do to monetize old company vehicles.
Sell to a Service
The first option is selling the vehicle. This is a good option if the vehicle is still in decent condition, but know that there are people who will give you something for virtually any car no matter in what state it’s in. These are often ‘pull a part’ services that store old vehicles on a lot and allow people to come in and pick up whichever parts they want off a vehicle. They will often be able to give you more for your vehicle than your average scrap yard since they don’t have as high of an overhead. So, if you don’t feel the vehicle is good enough to make good money on the open market, then we suggest you run a search for a pull a part near me and see what you come across.
Sell to the Public or Another Business
Another thing you can do is sell the car to the public or to another business. You could look at businesses in your area that might be in the same sector as yours and see if they would be interested in buying your car(s). You could also look at other businesses that might be interested that are not directly related to yours, like courier services, for instance.
Alternatively, you could simply put up your cars for sale to the general public. Classifieds remain the top way to get attention for a car you’re trying to sell, but you can also work with a broker. If you’re near a busy street, you will also get a lot of attention if you put your vehicle in a visible space and put a “for sale” sign on it.
Then you have the option of trading the vehicle. You might not be able to get the same thing, but this could allow you to get a significant discount on your next vehicle. The best thing about trading a vehicle is the quick turnover. You can go to the dealer and get a new vehicle the same day so you can continue your operation unencumbered. If you have a good relationship with the dealer, you will get better deals over time, which is another major benefit.
There’s also a thing that many people overlook when they sell a vehicle, and that is complaints. If you sell a vehicle to someone and they feel like they’ve been slighted, there is a high chance that you’ll hear about it. They might also decide to criticize you and your business openly, which could be disastrous for your brand. There’s no such thing when trading a vehicle. These people know exactly what they’re doing and getting into, so there’s much less responsibility than when selling.
These are all things that you can do to get a return on old vehicles from your fleet. Explore all of these options and see which one is the most beneficial for you.
James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. He is also an avid reader, who can while away hours reading and knowing about the latest gadgets and tech, whilst offering views and opinions on these topics.