Every vehicle is sold on an individual basis, ensuring the true value for each vehicle. We do not sell vehicles in lots or groups, which is common with larger leasing companies. Approximately 50% of all vehicles are sold to drivers, employees, friends and relatives. This is a great perk for drivers and employees, and eliminates the fees associated with an auction sale. Velcor® sells the remaining vehicles at auctions located throughout the country. There are about 400 auctions nationally and Velcor® uses about 45 of them.
We provide a complete audit trail on each vehicle sold. When the vehicle is sold, a final accounting is prepared summarizing the sale for the client as well as indicating how well Velcor® performed selling the vehicle. In addition to receiving the final accounting, you'll receive a copy of the check, vehicle condition report, odometer statement and itemized billing statement on vehicles sold through the auction. Today this audit trail isn't provided by the major fleet management companies.
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In an effort to reduce overall fleet costs, it is important to replace your vehicles at the optimum mileage level, and cycle your vehicles at the right time of the year. It's always best to cycle your vehicles in the Fall whenever possible. This allows you to optimize vehicle depreciation and take advantage of the premier used vehicle premium pricing in the Fall. The Spring is the next best time to replace vehicles if necessary. Velcor® will work with you to establish a vehicle replacement schedule to help reduce your fleet costs.
If you have vehicles that are company owned and need to sell them, Velcor® will assist you with a Courtesy Sale. When your driver takes delivery of their new Velcor® vehicle, they can leave the company owned vehicle at the dealership. Velcor® will consign the vehicle to an auction and sell it on your behalf. We will provide you with a copy of the check from the auction, the condition report and itemized auction expenses. You have a complete audit trail on the sale of the vehicle.
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