Recently, we sent out an email asking for participation in a survey surrounding post COVID-19 lender repossession activity. The results are in and we want to share it with you. Below you can find the questions and answers from the survey as well as the opportunity to download a PDF file of the full results.
What is your institution type?
- Bank – 13.51%
- Captive – 2.70%
- Independent Finance Company – 43.24%
- Credit Union – 35.14%
- Other – 5.41%
Is your institution’s auto loan portfolio larger than $10 billion in outstandings?
- Yes – 8.33%
- No – 91.67%
Check the following types of repossession orders your institution is currently issuing?
- Involuntary Repossession – 66.22%
- Voluntary Repossession – 90.54%
- Impound Repossession – 74.32%
- None – 5.41%
If your institution is currently issuing involuntary repossession orders, are you doing so on the following portfolios?
- Pre Charge Off – 88.64%
- Post Charge Off – 75%
If your institution is NOT currently issuing involuntary repossession orders, when do you expect to resume doing so?
- June – 29.79%
- July – 31.91%
- August – 4.26%
- Unknown – 34.04%
Do you have concerns that there may not be enough industry capacity to handle the demand for repossession services once COVID-related moratoriums are lifted?
- Yes – 36.49%
- No – 63.51%
Download a copy of the full survey results
Get a copy of the full survey results below. Our report provides you with a summary section and then separate sections for each type of institution in order to make it easier to compare results with your peer group.