The primary objective of our LinkedIn Group, Lender’s Repossession Best Practices Forum (LRBPF), is to provide members with insights on best practices and processes deployed by others. With that said, we recently surveyed over 100 lenders to gauge different score carding strategies. The survey results were very informative and gave insight into different techniques used by auto finance lenders of all sizes. We were surprised that over 20% of lenders don’t allocate market share based on vendor score cards!
Our survey consisted of questions regarding a lender’s strategy towards using a direct repo agent or a national repossession management company. We also asked lenders to provide feedback on important score card topics as well as their formula used to measure repossession results. You can download a copy of the score card strategy survey results below.
In our LinkedIn group, we’re constantly posting custom articles related to industry hot topics, automotive repossession trends, and addressing issues affecting C-suite executives. If you’re involved in collections or collateral recovery at your financial institution and you’re reading this article, we encourage you to join LRBPF. Over 150 of your peers already have. Membership approvals take less than 24 hours.
We hope you find the score card strategy survey results informative.
We surveyed over 100 auto lenders. Get a PDF copy of our survey results on score carding strategies. Should you have any questions, contact our team.