ARA partners with ACV to sell repos from members’ storage facilities
The American Recovery Association is looking to smooth one of the most challenging parts of the recovery process through what the organization is calling a “ground-breaking” partnership with ACV Auctions.
With access to ACV’s inspection services and active marketplace, ARA said on Wednesday that its members now can leverage ACV to seamlessly inspect, list and sell vehicles same-day directly from ARA member storage facilities.
To recap, ACV is an online wholesale automotive marketplace driven by technology to provide transparency and national scale through third-party, accurate vehicle condition reports and 20-minute auctions.
With this newest partnership, ARA members will now have access to a new remarketing strategy that can allow for additional revenue streams and access to an active national buyer pool through ACV’s online auction platform.
“We are glad to promote a company that recognizes the value of our facilities and the true meaning of engaged customer service,” ARA president Dave Kennedy said in a news release. “I am positive that this relationship will be a valuable one for the ARA membership, and for the lenders that utilize the ACV Online Auction platform.”
As part of this new partnership, ARA will be able to facilitate a new remarketing strategy for finance companies, utilizing ARA member’s professional locations as marshaling centers for repossessed collateral.
With access to a large database of vehicle history and condition information, ACV’s inspection force, once dispatched to an ARA member storage facility, can produce a comprehensive True360 condition report to assess the “true” value of each vehicle before its listed for sale on ACV’s live, 20-minute auction platform.
ARA said this process can give members an immediate return for every vehicle that is sold through this platform from their storage facilities.
“We look forward to offering ARA members an efficient remarketing opportunity that will enhance their core business offerings. ACV’s online auction experience puts the customer in the driver’s seat, saving them time and money,” ACV chief sales officer Mike Waterman said.
“Given ARA’s wide member base and professionalism in the auto-recovery industry, this partnership was a natural fit,” Waterman continued.