The Car and Truck Fleet and Leasing Management Magazine

GE Commercial Finance, Fleet Services’ Strategic Alliance With Carfax Nets an Additional $6.9 Million Revenue on Resale of Fleet Vehicles

October 26, 2004

GE Commercial Finance, Fleet Services and Carfax announced the one-year anniversary of their exclusive partnership. Since October 13, 2003, wholesale buyers purchasing used vehicles from GE Commercial Finance, Fleet Services have had access to extensive documentation on these vehicles’ past service and maintenance through Carfax Vehicle History Reports. This documentation covers everything from oil changes to brake replacements. “We’ve been blown away by the positive impact the Carfax Reports are having on the resale value of our off fleet vehicles,” said Paul Seger, vice president of asset remarketing for GE Commercial Finance, Fleet Services. “We’ve sold 23,150 vehicles since we started working together and an initial study of our last year’s revenue shows that we made an average of $300 more on every vehicle sold with a Carfax Report. That’s almost $7 million of additional value we returned to our fleet management clients.” Client vehicles enrolled in Fleet Services’ Maintenance Management program are promoted at auction with a sticker on the windshield stating the vehicle’s service and maintenance records are available through Dealers with Carfax accounts have access to the complete service and repair information for any Fleet Services’ vehicle enrolled in its maintenance program. The companies are currently exploring ways to expand access to Carfax vehicle history information at auctions.
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