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Helping Credit Unions Mitigate Their Losses
on Repossessed Vehicles
Services
Lessen the burden as well as the financial losses associated with repossessions. We handle all aspects of recovering your working capital, we also work to get you the most value for your repossessed vehicles. Our White Glove Service makes the process simple and fast for you.
Let Us Handle the Work For You
Collateral Mitigation Services makes your job of recovering repossessed vehicles simpler and faster
What We Do
We eliminate the hassles associated with repossessed vehicles which frees up valuable time for you and your staff.
Through our process we help mitigate the losses you typically get at a traditional auction
- No negative repo stigma when dealers are looking at your vehicle
- No traditional auction fees
- No need for buyer representation or buyer representation fees
- Zero “No Sale” fees
- No transportation cost
- Shorter storage and lot fees
- Reduced bond insurance cost
CMS White Glove Service
When you partner with CMS, you gain access to over 1,000 certified inspection agents who come to your branches to inspect and take pictures of all of your repossessed vehicles. These inspection agents will develop a detailed description of your repossessed vehicle.
Our certified listing agents will certify 100% of the purchase price eliminating the risk for misrepresentation as well as compile a list of the top bids and provide a guaranteed purchase price.
We will work with you to help you establish a floor price for the starting minimum bid. Our system uses over 60 algorithms that analyze the demand for each of your vehicles and provides details on how to establish a starting bid that will yield the best selling price for your vehicles.
We will then represent and list your vehicle to over 7,500 competing dealerships who will bid for your vehicle, which helps to maximize the price that you get for your repossessed vehicles compared to traditional brick and mortar auctions.
CMS can list your car within 30 minutes and multiple times if needed which turns a repo back into working capital faster.
CMS handles all the paperwork between the credit union and the purchasing dealer.
Once all the paperwork is completed, CMS will arrange all the transportation logistics.
Funds will be paid to the credit union within 24-48 hours of us receiving all the completed paperwork from the credit union and the dealership.
CMS will provide a complete compliance package that features a list of multiple bids and reconditioning values to protect you against any potential legal action.
Providing Solutions to Credit Unions and Automobile Dealers
Experience
The team at CMS has built strong relationships with both credit unions and auto dealerships over the last 20 years.
Vision
It occurred to us that we might be able to utilize these relationships to bring credit unions and auto dealers closer together. Although credit unions and dealerships already worked together, we saw that there may be a way to help credit unions mitigate their losses on repossessed vehicles while simultaneously helping auto dealers gain access to much needed, good quality, inventory. This is how the vision was born.
Goal
Our goal is to eliminate as much of the burden that credit unions currently feel when trying to liquidate a repossessed vehicle while also decreasing the financial loss that repossessed vehicles cause credit unions. On the dealership side, we are able to provide great vehicles to dealerships that are constantly looking to add to their current inventory. We strive to help both parties by providing white glove service that streamlines the entire process for both parties.
