Repossessions

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General Information

When entering a repossession into the system, information such as dates, repossession fees, and who performed the repossession can be entered.  Once this information is saved, the Repossession Report (R-3-B) tracks the status of the repossessions. 

 

•If a repossession is entered incorrectly, for example it is entered for the wrong customer, it can be deleted from the system. Click here for information on Deleting a Repossession.
•A customer may want to make payment on a vehicle that was repossessed.  Click here for information on Redeeming a Repossession.
•Click here for information on generating 10 Day Letters.

Helpful Hints

The Repossession Process will not automatically write-off your customer. Once you determine that the customer is not going to redeem the repossession, you will still need to write the customer off.  Click on this link for these steps: Processing write-offs.

 

The system will not allow you to enter a fee charged to the customer for the repossession until a repossession date has been entered.  Once entered, this fee will be added to the customer's fee balance.  The dealer's cost for the repossession will be reflected in the "current cash position".

 

Once a customer's car has been repossessed, when you select this customer in Customer Activity you will see a message indicating the date that the car was repossessed.

 

The system provides the option of modifying a customer's prior repossession information if they have multiple repossessions.

How Do I Get There?

•Click on Customer Activity button.
•Select the customer for which you want to process the repossession.
•Click on B - Customer Processing button.
•Click on G - Process Repossession button.

 

Used Car Dealer Software by Frazer Computing, Inc.