Fleet/Remarketing 💯

Question 1

Know the goal of the Fleet Department

Answer 1

Maintaining a fleet that meets the needs while maximizing profitability

Question 2

Group Fleet Manager

Answer 2

Ryan Roney

• Oversees entire operation of department
• Create/manage marketing and acquisitions and comes up with strategy for fleet

Question 3

Remarketing Sales Manager

Answer 3

Lindsey Werger

-Manages sales team, pricing and logistics

Question 4

Vehicle Acquisition Manager

Answer 4

Doug Majeski

• Forecasts short term and long term needs for group
• In charge of ordering and distribution of drivers

Question 5

Know the group delete (flip) policy- process, condition, and time expectation

Answer 5

1. Vehicles are to be grounded within 72 hours of being placed on delete list
2. All vehicles must be in clean and ready to rent condition
3. Any damage above the damage evaluator guidelines must be repaired before being turned into delete lots
4. Ground and transfer, send email with branch # in subject for all units, once left lot transfer to 99 with branch #, date, and time

Question 6

Know why fleet mix is important

Answer 6

To minimize depreciation and have a variety of vehicles options

Question 7

Know the difference between a risk unit and a buy back unit

Answer 7

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

Question 8

Know how to calculate margin and how it affects which cars we buy

Answer 8

Margin=Revenue-Depreciation-Interest+ Inventory Adjustment

Question 9

Know the three primary ways we sell our fleet

Answer 9

Dealers (franchise and independent)
Manufacturers
Auction
Retailers- referral to car sales

Question 10

Know the three biggest factors that affect the values of our cars

Answer 10

Time, miles, condition

Question 11

Know our depreciation rate

Answer 11

1.7%

Question 12

Know how to calculate Inventory Adjustment and Washout

Answer 12

(Acquisition price) x (# of months in fleet) x (depreciation 1.7%)

Washout- true depreciation