A Loss of Value Cost is a charge towards the repair of the vehicle or a contribution towards the loss of the vehicle’s value due to the damage.
Loss of Value
Sometimes it is not always efficient or worthwhile to repair smaller areas of damage after every incident. However, this does take a toll on the vehicle and will require us to repair or make good, often before the vehicle is sold, which will have an impact on the overall value of the vehicle.
We are therefore introducing 'Vehicle Damage Loss of Value' charges to our Alphabet Own Fleet.
This means that we may not immediately repair the area, but remedial action will be taken later in the vehicle's life.
We will charge you to repair the cost or the loss of value to the vehicle that the area of damage will cause. Not repairing this after each period of hire will result in the vehicle being available for use and will ultimately reduce the costs that are required to be passed on.
For Alphabet Rent Own Fleet vehicles, whether cars or LCVs, we grade based on the BVRLA Fair Wear and Tear standards. See full guidelines here.
Got questions? We’ve got answers
You can contact the Alphabet Rent team on 0370 5050 101, or email alphabet.rent@alphabet.co.uk for more information about the Alphabet Rent Terms of Business.
Repairing minor cosmetic damage, that does not affect the safety or performance can cause greater downtime for the vehicle, making it unavailable for use. By charging the Loss of Value, the repairs can be done later when it is more efficient, without the vehicle being off the road when it is needed. This allows for reduced repair costs and avoids the costs of the vehicle being unavailable.
Any rental vehicle may have some minor cosmetic damage, but this will be clearly marked as pre existing damage when you take delivery of the vehicle. The Loss of Value charge enables Alphabet to complete the repairs before the vehicle gets to an unacceptable standard.
If the damage is beyond the acceptable standard or causes a safety concern, we need to complete the repairs before the vehicle can be provided to a customer. Therefore the cost of these repairs will be charged in full.
For further information or to discuss a damage pack you have received, please contact the Alphabet Rent team on 0370 5050 101, or email alphabet.rent@alphabet.co.uk.