The Car and Truck Fleet and Leasing Management Magazine

Nationwide Auction Systems Creates Lease Disposition Center

January 5, 2004

Nationwide Auction Systems announced on December 30 that it has created a lease turn-in center for financial institutions, manufacturers and lease companies. The Nationwide QUICK DROP* Center provides lessees with an 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 an eight-shot photo layout within 24 hours. The entire process is managed through an Internet-based proprietary software program. Corey Schlossmann, CEO of Nationwide Auction Systems, said, "Our system enables us to assist the lessor in monitoring inventory and reducing the time frame in which their 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 knows 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 collect on vehicle wear and tear items."
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