SMA launches Buy-Back scheme
SMA Vehicle Remarketing has launched a Buy-Back service for dealers, enabling them to return vehicles aged between 45 and 50 days.
SMA quoted ASE data which suggested the average time a used car is on stock is 55 days. The remarketer used a CAP calculation that every day a car is on stock unsold it will fall in value by £5.95 for the first 60 to find that, on average, a car left on stock unsold after 45 days will fail to hit budget.
The Buy-Back option requires a one off fee. After that stock which has remained unsold after 45 days, but no more than 50 days, can be returned to SMA for a refund of 95% of the vehicle purchase price or CAP Clean, whichever is lower.
SMA national operations director Eddie Thomson said he found the Buy-Back option has resulted in dealers being bolder in their buying habits, as it enabled them to be more prudent in their stock management.