Small business fleets appear cannier than larger companies when it comes to purchasing their business cars.
Small businesses place a much greater emphasis on what the car’s future value will be.
That’s the finding in the latest annual Used Car Report, the 17th published by leading auction specialist group BCA.
A survey of 230 fleet and business car owners were asked to place a level of importance on future used value. Small businesses scored highest, placing it in the ‘important’ to ‘very important’ category.
“Smaller fleet owners are likely to feel the impact of used vehicle residual values on their bottom line more acutely than their larger counterparts,” the report’s authors noted.
Smaller business fleets were also more adept at selling their used cars more quickly – the majority managing to sell the car within a week.
According to the report, smaller fleets are more likely to sell privately or trade in
their old vehicle for a new car. While selling used company cars through auctions rises much in line with fleet size.
Small business fleets – top six used car selling methods
- Sell privately
- Sell to an employee
- Trade-in for another vehicle
- Sell to a used car dealer
- Sell at auction
- Sell to a franchised dealer
Source: BCA Used Car Report
Further information
- If you want to know more about how to sell your vehicles, read our Advice Centre Top Tips report.
- You can also read our Top Tips on buying a used business car.
- We also have an advice article on buying a used business van.
Used vehicle value is top priority for small business fleets
