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Maintain Automotive Repossession Information
Use the Repossession tab in the Automotive panel to maintain automotive repossession information for the account displayed in the Work Form.
To maintain automotive repossession information
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In the Reference Panel navigation bar, click Available Panels and then click Automotive.
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In the Automotive panel, click the Repossession tab.
Status: Status of the vehicle repossession.
Repossession
Address: Location of the vehicle.
Policy Entity: Insurance agency where the repossession company has an insurance policy.
Date Repo Completed: Date the agency repossessed the vehicle.
Balance at Repossession: Balance due on the loan or lease when the vehicle was repossessed.
Repossession Expenses: Cost of repossessing the vehicle.
Collateral Status
Condition: Condition of the vehicle when the agency repossessed it.
Lease End/Repo: Indicates whether the lease ended or the agency repossessed the vehicle.
Repossession Code: Vehicle factory key code that allows the repossession agency to drive the vehicle away rather than tow it.
Collateral Drivable: If selected, the vehicle was drivable when the agency repossessed it.
Agency Information
Agency Name: Name of the repossession agency.
Agency Phone: Repossession agency's phone number.
Assigned: Repossession agency assignment date.
Redemption
Redemption Date: Last date the customer has to redeem the vehicle.
Redemption Amount: Amount the customer must remit to redeem the vehicle. This amount can include past due amounts, total remainder of the debt, and any fees incurred from the repossession.
Date Released: Vehicle release date to customer.
Redeemed by: Person who redeemed the vehicle.
Released: Method of release.
Storage
Date Into Storage: Repossessed vehicle's storage date.
Storage Location: Storage location of the repossessed vehicle.
Storage Comments: Comments regarding storage of the repossessed vehicle.
Redemption
Repossession Fees: Repossession fees incurred.
Storage Fees: Storage fees incurred.
Key Cut Fee: Fee for having a key made.
Misc Fees: Miscellaneous fees related to the repossession.
Impound Fee: Impound fee incurred.
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Complete the information and then click Save.