ATLANTA – Manheim has come out with a new remarketing tool called EasyStep Remarketing designed to reduce the time and coordination needed for credit unions to recover and liquidate repossessed collateral.
EasyStep Remarketing, available nationwide, includes three steps: recovery of the asset, offer of the asset to CU members, and lastly, wholesale liquidation of the asset to auto dealers.
Recovery is managed by Manheim's Recovery Solutions division that features a network of more than 700 recovery agents nationwide. Next, Manheim's Remarketing Solutions manages the entire remarketing process beginning with posting of the vehicle to an Internet auction for sale to CU members, powered by TitleAuctions. If the vehicle continues to be for sale, the final step is wholesale liquidation beginning with Manheim's Online Vehicle Exchange where the vehicle is exposed to 65,000 dealers nationwide via the Internet, and ending with running the vehicle through the wholesale auction lane.
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The repossessed vehicle remains for sale 24/7 throughout the entire process.
Manheim, a subsidiary of Cox Enterprises, handled nearly 10 million used vehicles in 2005-and sold more than five million-representing more than $50 billion in value.
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