Vehicle remarketing is defined as the controlled disposal of fleet and leasing vehicles that have reached the end of their fixed term. In vehicle leasing, after the lease expires, the lessee either returns the vehicle to the supplier or buys it. Suppliers typically end up with lots of vehicles because of this, so they want to “remarket them.”
Why are auto auctions great for remarketing vehicles? There are several reasons.
The Benefits of Auto Auctions for Remarketing Vehicles
For starters, dealers can convert vehicles into cash quickly at an auction. This market liquidity cannot be underestimated, especially when cash is needed– rather than waiting around for the proverbial check in the mail.
Next, there’s such a thing as fair market pricing. At an auction, people get an objective and realistic view of what a certain vehicle is truly worth in that marketplace. Large volumes of vehicles can be sold at auction without having to depress prices. After all, if one goes for $15,000 and the others are just like it, then the others should fetch a similar price “all in one swoop.”
Thirdly, auctions are great places to find a wide variety of vehicle types in one place at one time. An auction represents a great “coming together” of various entities, including dealers, leasing/rental companies, banks and even manufacturers. Auctions can be a smart place to network– meeting new people and making smart deals.
Also, with auctions you can expect some guarantees. For instance, check and title transactions should be secure and guaranteed. Also, the standards used to judge vehicle condition are pretty uniform across auto auctions. The vehicles are typically inspected so buyers know what they’re getting, too.
Finally, auctions offer the latest in technology to increase efficiency as well as ancillary services to make the whole process easier for people to deal with– a “one stop shop” if you will.
From having the confidence of secure transactions to having a venue where a vehicle can sell for more than its asking price, auto auctions are a clever way to conduct vehicle ownership transactions in the 21st Century.
Wilson Auction & Realty Co. is your trusted partner for auto, property and commercial real estate auctions in Ohio, Indiana and Michigan. Located in Bryan, Ohio, you can call us at 1-866-870-5500 for more information. Wilson offers free consultations; just schedule an appointment. We can send someone to look over your assets and walk you through all available options