Did you know that over 40% of lenders don’t allow repo agents to charge fees directly?
We recently asked over several auto lending institutions to participate in a survey that covered the scope of allowable fees and institution practices. Each lender is a member of our LinkedIn Group “Lenders Repossession Best Practices Forum” (LRBPF). Over 50 institutions provided information on personal property and redemption. The results were very interesting! We want to share with you our findings.
Our survey consisted of questions regarding a lender’s policy on personal property and redemption as well as set charges and restrictions on such. You can download a copy of the results below.
If you’re interested in participating in future surveys or receiving prompt survey results in the future, join our LinkedIn group. We regularly post custom articles related to industry hot topics, automotive repossession trends, and addressing issues affecting C-suite executives.
Get a PDF copy of our survey results on personal property and redemption. Should you have any questions, contact our team.