Fleet/Remarketing 💯 Flashcards
Know the goal of the Fleet Department
Maintaining a fleet that meets the needs while maximizing profitability
Group Fleet Manager
Ryan Roney
- Oversees entire operation of department
- Create/manage marketing and acquisitions and comes up with strategy for fleet
Remarketing Sales Manager
Lindsey Werger
-Manages sales team, pricing and logistics
Vehicle Acquisition Manager
Doug Majeski
- Forecasts short term and long term needs for group
- In charge of ordering and distribution of drivers
Know the group delete (flip) policy- process, condition, and time expectation
- Vehicles are to be grounded within 72 hours of being placed on delete list
- All vehicles must be in clean and ready to rent condition
- Any damage above the damage evaluator guidelines must be repaired before being turned into delete lots
- Ground and transfer, send email with branch # in subject for all units, once left lot transfer to 99 with branch #, date, and time
Know why fleet mix is important
To minimize depreciation and have a variety of vehicles options
Know the difference between a risk unit and a buy back unit
Risk- we purchase and own the vehicle at the risk of gain or loss when we sell
Buy back- we have an agreement with the manufacturer to buy the car back from us giving them the risk at a certain time/ mileage
Know how to calculate margin and how it affects which cars we buy
Margin=Revenue-Depreciation-Interest+ Inventory Adjustment
Know the three primary ways we sell our fleet
Dealers (franchise and independent)
Manufacturers
Auction
Retailers- referral to car sales
Know the three biggest factors that affect the values of our cars
Time, miles, condition
Know our depreciation rate
1.7%
Know how to calculate Inventory Adjustment and Washout
(Acquisition price) x (# of months in fleet) x (depreciation 1.7%)
Washout- true depreciation
