Lender Solutions for Streamlining Auto Repossession and Remarketing
Auto repossession has become increasingly complex and time-consuming in today's market. Thankfully, lenders don't have to navigate these challenges alone.
During our most recent Client Advisory Council (CAC) meeting, Jerry Steinkuehler, Director of Loan Servicing at Together Credit Union in St. Louis, MO, shared his team's firsthand experience using State National’s CARS (Claims Advocacy & Recovery Services) program.
Seamless Onboarding & Immediate Time Savings
Implementing new programs can often seem daunting, but for Together Credit Union, the onboarding experience with CARS was seamless.
“Right out of the gate, implementation was painless. Setting up the CARS program was seamless. Our staff immediately felt relief — no more chasing collateral. All the information we needed was right there in the system. Immediate time savings — time we could redirect to higher-value activities.” ~ Jerry Steinkuehler, Together CU
The credit union quickly saw a significant reduction in manual tracking, allowing staff to better focus on serving their members.
Tackling Real-World Recovery Challenges
One of the standout benefits of the CARS program is the efficient coordination of skip tracing and repossession services. Thanks to State National's collaboration with Guardian Professional Services (GPS), one of State National’s carefully vetted and selected skip and remarketing partners, Together Credit Union experienced:
- Faster turnaround times for repossession and collateral recovery
- Improved communication and transparency throughout the entire process
- Higher remarketing values on recovered vehicles
Once a vehicle is repossessed, the CARS program automatically initiates remarketing to secure optimal vehicle resale value, providing:
- Priority auction lanes and strategic timing for better buyer exposure
- Expert reconditioning advice, often yielding $3 for every $1 invested
- Reduced seller fees through negotiated partnerships
- Timely sale proceeds — funds are delivered within 48 hours of sale
“Through State National’s partnership with GPS, repossession and remarketing are smoother and more effective — especially for out-of-state vehicles. The recovery rate is solid (74% repo roll rate, with an average date to resolution at 12 days) and auctions are optimized for maximum return. Our rolling 12-month average percentage of Sale to Floor is 96%. This isn’t just convenient — it’s smart business.” ~ Jerry Steinkuehler, Together CU
Efficient Outside Insurance Claims Handling
Together Credit Union also benefits from State National’s expertise in managing outside insurance (OI) claims, resulting in quicker, more substantial insurance payouts. Key advantages include:
- Initiating lienholder claims within 1-2 days of documentation receipt
- Persistent negotiation with underwriters, leveraging adjuster language and legal knowledge
- Real-time updates through State National's user-friendly InsurTrak platform
The Human Side: Dedicated Claims Advocacy & Support
Together Credit Union’s experience with CARS is reinforced by State National’s dedicated support. According to Together CU, the CARS team at State National is:
- Responsive and solutions-focused, even jumping in proactively when processes stall
- Willing to escalate issues or serve as a second set of eyes
- Always available for questions, training, or assistance
- Staffed with highly responsive and reliable representatives
“What really sets State National apart is the people. Our rep is always there, always helpful. Even when things don’t go perfectly, the service mindset from the CARS team is strong. That helps us, and it helps our members — especially when we’re trying to prevent unnecessary CPI placements.” ~ Jerry Steinkuehler, Together CU
Conclusion: The Value of a High-Impact Partnership
For Together Credit Union, the overall relationship and experience with State National’s partnership has delivered clear and consistent value. From refining their repossession strategy to tackling insurance claims, the CU says they’re more equipped, more efficient, and able to provide stronger service to their members. Some of the benefits they’ve seen from the CARS program include:
- Faster and more reliable recoveries
- Higher remarketing returns
- Streamlined insurance claims handling
- Time and cost savings
- Responsive and collaborative support
Interested in learning how CARS can benefit your credit union?
