EurotaxGlass’s forecasting service helps retailers schedule disposals
EurotaxGlass’s has created a new service that generates residual value forecasts for new or recently registered cars. The Forecast Bureau Service can define the most profitable time to sell ‘short-cycle’ vehicles, such as demonstrators, daily rental vehicles and bodyshop courtesy cars. The service can also identify the most cost-effective vehicles to be added to an employee company car list or a dealer’s demonstrator fleet.
The valuations can cover periods up to nine months after the date a request is made, reflecting anticipated depreciation trends, seasonal influences, odometer readings and (where required) items of optional equipment included on the chosen vehicle.
The new Forecast Bureau Service has been devised to be easy to use, with no need for software implementation or ongoing maintenance. Customers simply email their request for a valuation to EurotaxGlass’s, and a response is sent back within
48 hours itemising predicted monthly falls in value.
Supporting CPLS schemes
Data produced by the Forecast Bureau Service can be used to support compliance with Inland Revenue rules governing the car purchase and loan schemes (CPLS)*. Many dealer groups, vehicle manufacturers and importers currently use a CPLS as a tax-efficient means of providing company cars to employees. The Inland Revenue require that data from an independent third part be used to verify all future value forecasts.
* What is a CPLS?
With a typical car purchase and loan schemes (CPLS) the vehicle is sold to an employee at a price no lower that the net price, and then repurchased by the company at a specified date in the future. The scheme is not intended to be profit making and, within the motor trade, many of the vehicles included are typically made available as customer demonstrators.
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