Exchange/Sale of Motor Vehicles
Exchange/Sale is an authority provided by Section 503 of Title 40, United States Code, under which executive agencies, when acquiring replacement property, may exchange or sell similar items and may apply the exchange allowance or proceeds of sale in whole or in part payment for the property acquired.
When replacing agency-owned motor vehicles under the Exchange/Sale provisions of the Federal Management Regulation, motor vehicle sale proceeds are able to be retained and applied to the purchase of replacement motor vehicles. See 41 CFR Part 102-39 for regulatory guidance.
As a source of funding for replacement motor vehicles additional to other fleet program funding, the availability of sale proceeds should not be overlooked.
Each federal agency's fleet and finance programs need to work together to establish a specific account to collect and disburse sale proceeds.
Details of GSA personal property sales services and rates are found in FMR Bulletin 2003-B3.
GSA can help federal agencies dispose of personal property no longer needed. Please consult Disposing of Excess Federal Personal Property.