The Car and Truck Fleet and Leasing Management Magazine

Nationwide Auction Systems Lease Disposition Centers

January 08, 2004

Due to overwhelming demand for a better lease termination disposition channel, Nationwide Auction Systems has created a first-of-its-kind lease turn-in center for financial institutions, manufacturers, and lease companies.

The Nationwide Quick Drop Center provides lessees with a comfortable environment complete with phones, fax machines, and data ports. The lease return will then be processed quickly and the lessor will receive a copy of the signed vehicle condition report along with a rotating eight-shot photo layout within 24 hours. The entire process is managed through an Internet-based proprietary software program.

“Our system enables us to assist the lessor in monitoring their inventory and reduce the time frame in which their fungible assets are sold. We are also able to centralize, access condition, and set inventory for retail/wholesale disposition – inventory that would otherwise be difficult to aggregate. The lessor sees the immediate value of knowing where their inventory is located at all times. In addition, having the lessee sign off on the condition report gives the lessor the ability to efficiently collect on vehicle wear and tear items,” says Corey Schlossmann, CEO of Nationwide Auction Systems.

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