Repo Remarketing Invites Credit Unions to No-Strings Live Auto Auction

Strategic Link business partner Repo Remarketing, Inc., is inviting credit union professionals to Brasher’s Portland Auto Auction on March 22 for a first-hand look at the advantages of Repo Remarketing’s skiptracing, remarketing and repossession services.

Repo Remarketing’s strategy of aggregation in partnership with the Northwest Credit Union Association (NWCUA) allows credit unions to leverage the strength of their numbers to earn the highest sales prices when repossessing and remarketing vehicles, and the company’s expertise and experience makes the process a simple one for credit unions.

“We service almost 300 credit unions today across the U.S., and services extend into Canada and Puerto Rico,” said Claudia Plascencia, Repo Remarketing’s senior vice president. “The benefit to the credit unions is that some credit unions have one to two cars a month to service, and some have 100 to 400. Those that have as many as 400 do experience a degree of favoritism at the auction, but typically a credit union’s not going to have that type of a volume, so it’s important for credit unions to aggregate their vehicles with a trusted service provider. In Portland, in Seattle, we’ll have a presence at the largest regional markets across the U.S.”

Plascencia went on to stress that Repo Remarketing handles all the front-line and behind-the-scenes work on behalf of their credit unions, including writing condition reports and developing an accurate picture of what the car can reasonably be expected to bring when sold. Repo also uses an in-depth knowledge of all the relevant state laws. As subtly different laws exist for each state, this experience and knowledge represents significant protection for legal purposes for credit unions.

Plascencia explained how Repo Remarketing’s wealth of knowledge and experience, combined with the power of aggregation, helps credit unions earn the highest possible prices at auction.

“Often times, the auctioneer would just sell a car quickly if it’s just an individual or a low-volume credit union,” Plascencia said. “But Repo Remarketing has a representative on the block to push for the highest and best money. We’ve incorporated and aggregated the entire inventory on a national level, not only from a marketing standpoint, but also from the standpoint of repossession fees and transport fees. All these fees are lowered because we have a large presence and the volume has been aggregated. So, aggregation drives the fees lower, but it also drives the price higher. Ultimately, the credit union is experiencing gains on its net returns at the end of the day.”

At the March 22 auction, credit union professionals will have the opportunity to test-drive Repo Remarketing’s services with no strings attached, getting an up-close look at the auction process—and at the expertise Repo Remarketing brings to the table.

“We put them up on the block,” Plascencia said of the credit union professionals who join them at auctions. “Our auction rep will be selling at the auction that day, so our credit union attendees will actually be up on the block with the auctioneer right in the midst of the sale.”

Expanding on the benefits of this first-hand look, Plascencia said, “It’s an opportunity to get cars running through and experience a higher return and easier service. It is also an education as to what actually goes on at the auction. There’s a lot of back-end work. There are a lot of little pieces throughout the full process that they’re not privy to.”

Attendees at the lunch-and-learn and at the auction will:

  • Learn to secure and increase vehicle values;
  • Decrease the remarketing cycle time;
  • Decrease overall fees;
  • Consolidate remote services; and
  • Learn forward-thinking strategies for 2012.

Plascencia boiled down the Repo Remarketing advantage succinctly.

“What are the main reasons to consolidate your remote services? They are consistency, experience, and security and due diligence.”

“We’re the trusted service provider for CUS servicing their skip tracing, remarketing and repossessions of all vehicle types,” she said. “That’s what we’re built on.”

The March 22 lunch-and-learn and auction event will take place from 8:30 a.m. until noon, with lunch provided. Brasher’s Portland Auto Auction is located at 23585 NE Sandy Blvd. in Portland, Ore. Credit union professionals are asked to contact Sandra Vinson at 916.725.2708, ext. 103, to RSVP by March 12. More details are available here.

 

Strategic Link is the NWCUA’s wholly-owned service corporation, providing the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Questions? Contact Sales & Marketing Associate Craig Reed: 206.340.4789, creed@nwcua.org.

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