7:54 am, September 4, 2008
MANHEIM is smoothing the flow of cars to auction after one unfortunate inevitability of the credit crunch – repossessions.
The Defleet division has launched an asset management and recovery service, supporting its vehicle asset owner clients and complementing the company’s existing operations.
It will help them get their cars back more easily, following defaults, and help make resale quicker, too.
It’s web-based, meaning implementation following the termination of contracts is swifter as well. Manheim’s recovery agents will collect the car, following the exact terms and levels of engagement specified by the customer.
Electronic condition reports show the condition of the recovered vehicles, so companies can gauge the value of the car before sending it out to auction.
David Mercer, MD, Manheim Defleet Services said: ‘There are significant credit write-offs in the asset financing industry at the moment and the introduction of this service will help our customers to reduce costs and recover monies more quickly from defaulting customers.’
