DAASW to Host Online Sale Only Featuring Subprime Units
PHOENIX — As auto delinquencies and charge-offs ramp up, retaining high recovery rates remains necessary. Equally vital is the need to help dealers serving customers who are running into credit troubles due to the housing fallout.
In response to these challenges, Dealers Auto Auction of the Southwest said it has found a unique way to serve its lender and dealer customers.
The auction announced that it will host what it calls the industry's first subprime only simulcast repossession lane on June 11.
"This segment of the market has been ignored with less than 10 percent of the market being sold on the net," explained Stephanie Gingras, DAASW's assistant general manager.
"We saw the need for companies in this challenging market to have their vehicles presented to the largest audience possible," she highlighted.
Dealers can participate in the live sale by utilizing GMAC Smart Auction and OVE.com. Ultimately, this sale is designed to help dealers, not to mention assisting lenders in maximizing marketing potential for their subprime clientele.
"We believe that being an all-things-to-all-people auction is not necessarily in the consignors' or buyers' best interest, and focusing on a specific segment has allowed us to maximize returns for our clients" pointed out Jim DesRochers.
The sale will be available at DAASW.com.