Stage 1 Flashcards

Question

How many miles over service interval can you rent?? How to check??

Answer 1

500 miles Unit services -> history -> next PM -> look at miles/km LORF Full service

Answer 2

AX- on rent (customer accident) XX-not on rent (employee accident) Reduce: encourage buddy system, don’t answer phone calls whilst driving, use less valuable vehicles as chase

Answer 3

Employe loss psychical damage: damage to vehicles Employee loss liability: not car related, personal injuries/ personal damage Found on the uninsured loss section of the statement £3 Paid in 1 month period

Answer 4

Reserves/Coll comps- damage on rental contract Claims on DW, uncollected excess and uncollected COI Branch pays for damage- spread over 12 month period Cost / fleet / 12 months 3.5% of total revenue (reserves / total revenue x 100)

Answer 5

ERAC unit: Branch (1st £1600) Area (£6400) Group (remainder- uncapped) ``` 3rd party Branch (1st £1600) Area (£6400) Group (up to £16000) 16K —> 5m off statement- company 5K + = insurance policy ```

Answer 6

Undocumented damage Goal: £4 (or under)

Answer 7

``` Must be a limited company Registered address Business landline Business email address VAT registered Minimum of 2 rentals or 500£ spend a month ```

Answer 8

Under 1k = generic pop R type (retail site) Between 1K and 6K = bespoke pop R type (retail site) Get company account and set up in roughly 48 hours Underwritten as retail (no D&C, no OOH, no billing) ———————————————————————— BRSE SBP C type = business rental sales executive

Answer 9

Warranty: commonly longer rental contracts, can claim back from manufacturers (reminbutsed), fill rate requirement -> service level agreement (80%), like for like vehicle/ same brand Customer pay: Courtesy car contributions in U2 range from £7.50-£20, customer expected to pay something, virtual fleet for dealership, solution through simple rates, reduce long lead times and reduce leakage to competitors Benefits: book customers in faster, utilise fleet and longer contracts Objectives: retain customers, maximise part sales and labour hours

Answer 10

Business lines: Into car hire ( won’t need fleet cars ), non-fault: second touch (flip into credit hire) Body shop and insurer split E.g. LV = £100/£200, Aviva = £150/£150 Benefit to body shop: no need to run own fleet- reduce poor utilisation, use enterprise only when required

Answer 11

- take on hire, claim back from third party - help the shop capture the job rather than call insurance - enterprise pay body shop to do the repair (claim it back)

Answer 12

Customer contact, number of red/yellow cars converted into green cars ( in hire ) Contact within 20 minutes, can only supply if not road worthy, must find out body shop and update ERAC, must call shop and get booking in date ASAP, only green car once booked in Communication with body shop is key, allows more cars the be rented helping the growth goal

Answer 13

Percentage of fleet rented in a 24hr period Average percentage of cars on the road in a day When vehicles return and re-rented in a day

Answer 14

Total number of days last year/this year Compare to find growth

Answer 15

Direct costs- related to putting cars on the road (fuel, tax, maintenance, insurance, depreciation and loans for purchase) Employee costs, assured, pensions, health insurance, commissions, bonuses, people delivering new cars/picking up deletes Branch overhead: costs of operating branch, costs of building, business rates (tax), utility bills, maintenance, computers, cleaning products, PPE. Group overhead: head office (developing and running facility), employee wages for admin departments Corporate overhead: corporate office, European quarters- London, small portion goes to the state

Answer 16

Where total costs = total revenues Above break even- make a profit Below break even- make a loss

Answer 17

Operating profit + vehicle adjustments Branches are not targeted on vehicle adjustment because it cannot be controlled

Answer 18

£0 per car Spend- fuel tracker, fleet management and one ways Collections- daily targets, feedback + conversations , charging customers (front vs back end)

Answer 19

Average daily rate = IPC/ DIM / DE | Income per car, ???, days earned

Answer 20

£12,500 Branch fleet worth = number of cars on fleet x £12,500 If operating at 90%, find how many cars make up the 10% x 12,500 —> e.g. 900 cars unused = £11,250,000 = 11 million —> increase utilisation by 1% = £1 million

Answer 21

1) print off emailed list 2) use the print off to check in NCS, check all the details match (colour, gear box size, number plate) 3) full boot to boot (areas, parcel shelf, lock and wheel nut) 4) any differences to damage, do not sign- call VA ASAP 5) of all okay, install via USG (enterprise don’t pay until installed, if we don’t sign for damage- we pay for it, if you install a unit that you shouldn’t you ‘sit on it’

Answer 22

Updating cars in USG Call backs- talk to customers, ESQI improvements, when maintenance will be completed and try to do in advance (allows better allocation) Sharing cars Reservation management (direct customers towards available cars, what times/cars available) (have customers in advance)

Answer 23

Upgrades <10% Free upgrades cost the company, try to get customer to pay for it Downgrades <5% Both should be under a 7 day period

Answer 24

Tag units correctly/ update regularly Use non rev Vehicles not available to rate Want visibility Lot reports: legs to car USG, upgrades, downgrades, tracking and working

Answer 25

Right car right deal, right group of vehicle Revenue optimisation -> £1 for Revenue = £4 C+I 1:4

Answer 26

I-conversion rate 3rd party claims preferred- better rates Marketing: drive locally, improves profits, higher margins Hit all fill rates RCRD Merchandised car park (organised car park helps to sell upgrades) Paid upgrades (need cars available) Reservation management ( pricing up vehicles,availability and pricing of the fleet, try to take on all bookings 20% higher rates

Answer 27

1) our brands the most valuable thing we own 2) we work hard...and we reward hard work 3) customer service is our way of life 4) great things happen when we listen...to our customers and to each other 5) personal honesty and integrity are the foundation of our success 6) we strengthen our communities, one neighbourhood at a time 7) our company is a fun and friendly place to work, where teamwork rules 8) our doors are open