The Car and Truck Fleet and Leasing Management Magazine Automates Repossession Processes; Delivers Visibility and Accountability

October 30, 2003

Auto Auction Services Corp. (AASC) announces the launch of The Internet-based repossession management system automates resource-intensive processes while providing financial institutions with inventory visibility and agent accountability. The net results are lower expenses and reduced days to sell. integrates seamlessly with, AASC’s Internet-based inventory management system. Vehicles and data flow straight to auction, where more than 80 percent of repossessed vehicles are sent. Auctions get vehicle drop-off or pick-up instructions earlier as well as notice of legal holds and other valuable details. Clients also have the option to direct auctions to list repossessions on, which accommodates the legal requirement of a minimum of three bids from unique parties. Key Benefits for Financial Institutions

  • Make assignments and receive agent acknowledgements online.
  • Track vehicle statuses, recovery attempts, charges and more.
  • Upload agent documents as digital images and let LiveRepos track expiration dates. The system auto-notifies the agent and bank of the necessary action and deadline.
  • Objectively evaluate agent performance in areas such as average recovery time and total charges.
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    Walter Langseder was the fleet manager for Thomas J. Lipton and one of the founders of NAFA.


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