While this field is not mandatory, it is strongly recommended. Here’s why entering the book value is important:
1. Internal reference for your organization
The book value reflects the vehicle’s value in your company’s accounting system. This helps you and your colleagues quickly understand the financial context of the vehicle—for example, during purchase, resale, or write-off processes.
2. Better insight when receiving bids
When offers come in from traders or buyers, the book value allows you to assess whether a bid is commercially viable. You can easily compare the bid to your internal valuation.
3. Supports remarketing decisions
For vehicles offered through remarketing channels, the book value plays a crucial role in determining the right strategy: sell, hold, or depreciate.
4. Transparency in the sales process
For larger companies or dealerships with multiple locations, entering the book value ensures greater transparency. It provides everyone involved with clear insight into the vehicle’s financial status.
5. Reporting and analysis
With book values entered, your company can generate more accurate reports on margins, profits, and write-downs. This contributes to a more professional and data-driven approach.
Conclusion
Entering the book value isn’t required, but it adds significant value. It helps you make informed decisions, evaluate offers, and improve internal processes.
Need help determining or entering the book value? Feel free to contact our support team at support@carcollect.com.