Individual Sale Process
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 lessors. 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 with auctions located throughout the country. There are about 400 auctions nationally and Velcor uses about 30 of them. Traditionally, we tend to use smaller auctions catering to companies Velcor's size.
Relocate Vehicles
From time to time, we will relocate vehicles from different areas of the country for better resale. It is not uncommon to move a vehicle from the New England area to the Midwest. It costs approximately $200 to move the vehicle and we obtain $500-$600 more per vehicle.
Complete Audit Trail
We provide a complete audit trail on each vehicle sold. You receive a copy of the check, vehicle condition report, odometer statement, and itemized billing statement on vehicles sold through the auction with a final accounting summarizing the sale.
Replacement Schedule
Velcor will work with you on establishing a replacement schedule for your drivers. It is important to replace vehicles at the optimum mileage level and cycle your vehicles at the right time of the year. It is always best to cycle your vehicles in the fall and spring, when used vehicles bring a premium price.
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