The vehicle lease industry is all about eliminating uncertainty – for clients, suppliers and not least for lease companies themselves. However, end-of-lease inspections, when vehicles are checked for wear and tear, can be a major source of unwelcome surprises. Which damages are considered fair and which aren't? That simple question has a great relevance, not in the least because the answers to it are so varied.
CARA, the European Car Remarketing Association, is aiming to establish Fair Wear and Tear standards that apply throughout the industry, across national and sectoral boundaries, by 2018. An harmonization of the end-of-lease inspection process with standardised and industry wide accepted Fair Wear and Tear Standards are the ultimate goal.
Wolfgang Reinhold, President of CARA, explains why the installment of industry-wide Fair Wear and Tear Guidelines is of importance and how these Guidelines contribute to a more efficient and less uncertain remarketing process.
Wolfgang Reinhold, President of the Car Remarketing Association (CARA)