G3 Remarketing has reported non-maintained fleet and leased vehicles presented at auction without a full service record may lose up to 5% of their value.
The remarketing company,estimates up to 12% of non-maintained vehicles go to auction without a complete service record, resulting in a potential loss for fleet companies.
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Tom Marley, head of operations at G3 Remarketing said: "To put this in perspective, if a fleet or leasing company disposes of 5,000 vehicles per year, of which 5% have no full service record, they could face losing £97,500 annually.
"In the past, we have seen hundreds of vehicles presented with missing MOT and service data and some have no service record documentation at all. We see the greatest drop in value for Land Rover and BMW models that are presented without a full service record."
In July, G3 found a strong demand for executive diesels such as Jaguar, Land Rover and 5-Series BMWs which could be impacted by the new finding, and reported a rise in the volume of used vehicles bought through online auctions in May.
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By GlobalData
