Redeeming A Repossession

 Top  Previous  Next

General Information

Once a car is repossessed, your customer may come in to make a payment so that they can get their car back.  This is called redeeming a repossession.  After a repossession, whenever you take a payment for that customer the system will ask if the payment will "redeem the repossession" (the customer gets the car back).

Helpful Hints

If you have already written the customer off before the customer came in to redeem the repo, then you will need to reverse the write-off first.  Click here: Reversing a Write-Off.

How Do I Get There?

•Click on the Customer Activity button.
•Select the customer for whom you need to redeem the repossession.
•Click on the Enter PAYMENTS and other transactions button.
HINT: After the payment is entered, a message will display asking "Does this payment redeem the repossession?"

 

Used Car Dealer Software by Frazer Computing, Inc.