How Repo Remarketing Can Improve Your Returns
March 27, 2018
Whether you already use Repo Remarketing for your repossessions or you work directly with your local agent, what are you going to do with your vehicles after repossession? Do you know where to start or how to market your vehicles to get the most for your returns? The goal is to get the best return that you can.
In 2017, Repo Remarketing liquidated more than 2,000 vehicles in the Northwest, recapturing more than 23 million dollars that added to the bottom line of the region’s credit unions. Repo Remarketing mitigates credit union losses through the power of aggregation, combining the volume of credit unions’ inventory to achieve premium lane placement with great results at regional auctions. The service is one that has worked well for Northwest credit unions.
“They [Repo Remarketing] are awesome. They handle everything with a great website, reports, and good service and response. We started using them exclusively about four years ago and haven’t looked back,” said David Echtle, Chief Lending Officer for O Bee Credit Union.
Repo Remarketing utilizes a user-friendly Repo Management System (RMS). The group gathers a few vital pieces of information, such as the NOI expiration date and title information, and then obtains the credit union’s approval to sell the vehicle. Vehicles arrive at auctions where they are inspected, marketed and sold at the earliest possible auction date. Repo Remarketing works with a variety of auction groups to achieve the best results for their credit union partners.
Questions about Repo Remarketing and how it can help? Contact NWCUA’s Strategic Partnerships Manager Corina Ruiz at email@example.com to learn more.
Posted in Strategic Link.