Vengroff Announces Partnership on Car Repossession and Remarketing Services

Vengroff, Williams & Associates, announced Friday that it has entered into a partnership with the CAR Group, a newly-formed subsidiary of AmeriCredit Corp (NYSE: ACF). The CAR group specializes in collateral management services to various auto finance lenders.

VWA has forged this partnership with the CAR group to enhance its existing retail and auto finance risk management services.

Through the integration of people, process and technology, the VWA and the CAR group partnership delivers improved customer service on loan servicing, reduced administrative costs for debt collection, increased revenues, accelerated cash flow, and enhanced compliance with state-specific regulations to automotive finance companies throughout the United States. As part of the partnership, VWA and the CAR group will jointly offer a unique solution that allows auto finance companies the flexibility of driving streamlined collections management and risk mitigation, regardless of whether the process is managed in-house, outsourced or a combination of both.

"VWA and the CAR group have truly hit on an exciting new outsource improvement for auto recovery and asset remarketing," said Mark Vengroff, CEO of Vengroff, Williams & Associates. "With the CAR group’s recovery and asset remarketing capabilities, coupled with VWA’s overall outsourcing expertise, both companies benefit from the outsourcing of risk mitigation services — both people and technology."

By providing such primary services as Portfolio Collateral Valuation, Collateral Recovery, Vehicle Titling and Vehicle Remarketing, the CAR group offers collateral management services to debt buyers that can speed up the sale process, increase recoveries and lower the costs of recovering and liquidating collateral.

"Our partnership with VWA will enable customers to improve the quality, timeliness and depth of their credit lifecycle," said Charles Berend, Vice President of the CAR group. "We can focus on obtaining a maximum return for their auctioned vehicles, and our customers can focus on those elements of their business that they do best."