|
|
|
|
|
|
|
|
|
|
White Papers
|
American Financial Services Association (AFSA)
|
|
|
Repossession Prevention
|
Repossessing a vehicle is an expensive and unpleasant process for vehicle finance companies and borrowers alike. On average, vehicle finance companies lose in excess of $8,000 on each vehicle they repossess. For this reason, many of them are taking actions to help identify borrowers in need and prevent repossessions. What follows is a summary of practices that vehicle finance companies are using to help troubled borrowers hold onto their cars. These practices include increasing educational tools, dedicating more staff to working on the solution, reaching out early to borrowers who may be in trouble, and working with struggling borrowers on an individual basis.
|
|
Repossession Prevention (pages: 5)
|
|
|
