Leasing company demand for end-of-term inspection services leaps
Leasing companies are increasingly carrying out end-of-term inspections with the customer present in a move to minimise customer complaints and maximise the benefits from identifying and repairing damage earlier.
According to BCA, there has been a 27.5% rise since 2014 in the number of inspections carried out in this way.
Commenting on the trend Dean Hulse, managing director of BCA Logistics, said: “Lease companies understand the benefits of an end-of-term vehicle inspection in the presence of the customer. A digital record of the vehicle at the point of inspection allows the company to both meet the requirements of treating the customer fairly and collecting an accurate condition of the vehicle that is understood and agreed by the customer.
“The benefits are clear – customers can see a clear audit trail and have a greater understanding of why charges have been levied. Additionally, a greater percentage of damage is being identified and rectified earlier in the remarketing cycle, shortening time to sale, reducing holding costs and potentially improving residual value performance.”
To meet fleet needs, BCA offers a four-tiered inspect and collect service that offers a range of data to be collected through the defleet process and is integrating its collection services with remarketing activities such as vehicle repair, preparation and allocation to sale. As a result, 53% of damage value is repaired prior to defleet where the vehicle has been inspected prior the end of contract date, improving customer satisfaction.
Hulse concluded: “Imagery is becoming more important in the collection and remarketing process. Good quality data facilitates closer, more informed relationships with customers and speeds up the remarketing process. Managed correctly, it enables a more granular approach to continuous improvement in service provision throughout the vehicle’s lifecycle.”