9:55 am, April 25, 2016
THE plate change period inevitably sees volumes rise substantially in the wholesale markets and stock levels traditionally remain high until at least early May.
Any uplift in volume has the potential to change the balance in supply and demand and can impact on values as buyers simply have more choice.
The wholesale markets naturally see a rise in part-exchange volumes and in the rush to clear non-retail stock it is important to remember the basics of remarketing. Presentation and preparation are a given, and it is vital to properly identify and declare the specification, particularly as this gives your vehicles an edge if there are a lot of base-spec models about.
And don’t forget the paperwork when consigning vehicles for sale. Of course, not every part-exchange will have a full service history but make the most of what you’ve got.
If the V5C, MOT and service history are available, make sure they are present at the point of remarketing. The presence of the V5C means no delays in onward selling if the vehicle goes back into the trade, while a service history shows the vehicle has been well maintained by the previous owner and confirms that a warranted mileage is correct as declared.
In fact, the service history can have a real, tangible effect on the potential prices vehicles might achieve. Building buyer confidence is hugely important and even hardened trade buyers value the comfort of knowing their judgment is supported by a comprehensive history file.
Missing sundries from a car are possibly less corrosive to values than a missing service history but definitely have an effect on buyers. Missing manuals, radio/audio codes, spare wheels, tyre repair kits, or locking wheel nut keys are an irritation for buyers and will almost certainly be reflected in the bidding. If they are present when the vehicle is part-exchanged, make sure your remarketing partner has them at the point of sale.
So thinking like a buyer when you are selling will help you make the most of your part-exchanges when you send vehicles for sale. And that’s good news in an increasingly competitive marketplace.
Who is Simon Henstock? He is BCA UK’s chief operating officer – remarketing. Visit bca.co.uk or call 0845 600 6644.
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