When using Contract Hire or personal Contract Hire for the first time there is usually an existing vehicle or vehicles that the client needs to dispose of. For a company that has previously been buying their vehicles through a dealership, they may have been part exchanging there old vehicles. This is not an option with Contract Hire. So what are the other options available to the client?

Firstly if a Contract Hire broker is being used to acquire the new vehicle, one possibility is to consult the broker. A reputable broker will request a price from perhaps three or four traders and pass on to the client the highest price that has been bid. This will tell the client what the vehicle is worth in the trade and he can then be reasonably confident that if he chooses to sell it privately he can achieve more.

There are various ways of selling a second hand vehicle. In recent years Ebay has become a very popular route for advertising and selling second hand vehicles. Although it can be more difficult to sell something on Ebay, if you haven't built up a history of positive feedback.

It is also worth bearing in mind if you are selling a vehicle on Ebay it can be one the quickest ways of getting negative feedback recorded against you. The problem lies in the description of the vehicle; traders routinely buy and sell vehicles between each other, just based on a description and this generally works well. It doesn't work so well with members of the public, the reason for this is the many different interpretations people can put on the same description. This can lead to the buyer being disappointed with the vehicle and complaining.

Some companies choose to put their vehicle or vehicles through an auction. The main drawback with this is that if you are not really geared to this route of disposal, with drivers available that can take and enter the vehicle in the auction, it can get very time consuming. The results tend to be inconsistent; it can depend on the time of the day that the vehicle eventually goes under the hammer and who is attending on that day. Sometimes you can get a private buyer who is determined to buy the car whatever the price and it is sold for far more than was ever dreamed of and on other occasions it doesn't meet its reserve but the costs of entering the vehicle still have to be paid.

Another option is newspaper advertising. It can be worth making sure that the price being asked is realistic, so as to not waste money on advertising. Ebay can be a very useful guide in this respect, because you can see what vehicles are actually being sold for, rather than what they are being advertised for.

Many people are put off by advertising their vehicle privately because of the time that has to be spent placing advertisements, showing the vehicle and dealing with bank transfers or bankers drafts. Often a business can ill afford a member of staff spending their time on these matters.

At least once the client has switched to Contract Hire this will become a problem of the past; having chosen the term and the type of vehicle, the client can look forward to problem free motoring and fully budgeted costs until the end of the term, when they simply hand the vehicle back and take delivery of a new vehicle.

Should you have any queries or questions with regard to Fleet Management, Contract Hire, Personal Contract Hire or vehicle Hire Purchase, please do not hesitate to contact us. Bowater Price plc 01494 536 536. www.bowaterprice.com.

contract hire | personal contract hire | vehicle hire purchase

Bowater Price plc - Personal Contract Hire and Vehicle Hire Purchase