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Old 05-26-2011, 01:27 PM   #1
blackdogrecovery
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Default Ford, GMAC, etc..

Could someone please tell me who to contact, and requirements for doing repos for the large dealerships, like Ford, GMAC, etc... We work in S.C. and do repos anywhere. I have called other repo companies for input, and southern hospitality does not apply in this business. I hope I don't offend anyone by the last statement, it has been my experience. We just opened our doors 2 months ago. We are barely getting work. Any suggestions would be greatly appreciated.
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Old 05-26-2011, 02:08 PM   #2
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pick up the phone and call men, its pretty easy use google find gmac website and CALL. It will get you far, but you cannot expect people to do everything for you, how do you plan in growing your company when you cannot simply pick up a phone and call ?
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Old 05-26-2011, 02:08 PM   #3
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By the way gmac is now ally (( just helping you find the right website ))
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Old 05-26-2011, 03:28 PM   #4
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Asset recovery was it really necessary to be so rude. This is a site to give and get knowledge. Not smart *** comments
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Old 05-26-2011, 04:42 PM   #5
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Quote:
Originally Posted by repo1112 View Post
Asset recovery was it really necessary to be so rude. This is a site to give and get knowledge. Not smart *** comments
1112 Thats not being rude it's being blunt. If you cant do any investigating on your own, how do you expect to find any cars to repo.

There are too many people that go out on their own and are not ready for it. You need to gain the requisite knowledge and experience in all facets of the repo biz before you can go out on your own.
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Old 05-26-2011, 06:10 PM   #6
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alley (GMAC) isnt hiring any new repo companies ford isnt hiring any new repo companies in NC,SC Been there done that almost all major companies arent hiring any new companies I am on the list with all of them and I did get lucky to get on wellsfargo but it is what it is. The hospitality here in the NC,SC area does suck in this industry I am happy doing my repos and will not do any more title loan companies and SC has plenty of them. So it is a crap shoot for where you are. Now there are some companies looking for repo agents in myrtle beach area but you know like I said it is what it is.
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Old 05-27-2011, 06:53 AM   #7
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Is Wells Fargo keeping you busy? It is slow for us with them right now.
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Old 05-27-2011, 07:02 AM   #8
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they are SLoooooow I have picked up 2 cars in the last 2 months but I do have 20 competitors here I dont know who is still with them and not you know what I mean
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Old 05-27-2011, 08:11 AM   #9
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Thanks Ally, I have done my calling, wanted to know if there was an easier way to contact them. I don't expect anyone to do the work for me. Let me ask you Ally, do you still go door to door to businesses, do you do follow ups and send out thank you cards to businesses? I do! I don't sit on my *** and let people do the work for me. I thought this blog was for getting insight, and getting info, not insults. I do appreciate honesty. My philosophy is "If you don't want the truth, don't ask"! But don't assume I sit and let people do the work for me.
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Old 05-28-2011, 10:52 AM   #10
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Quote:
Originally Posted by blackdogrecovery View Post
Thanks Ally, I have done my calling, wanted to know if there was an easier way to contact them. I don't expect anyone to do the work for me. Let me ask you Ally, do you still go door to door to businesses, do you do follow ups and send out thank you cards to businesses? I do! I don't sit on my *** and let people do the work for me. I thought this blog was for getting insight, and getting info, not insults. I do appreciate honesty. My philosophy is "If you don't want the truth, don't ask"! But don't assume I sit and let people do the work for me.
Awful ambitious of you to go after Ally or FMC. They have requirements. And, being in business for a certain amount of time is one of them. I also think they might want to see a copy of your financials. Which, you won't have if you've only been in business for a few months.

You want to stay in business.....stay away from FMC. If you have to ask why then your not ready. I've never done GMAC work but have heard the pay is going south.

Polish up your business package and solicit credit unions.
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Old 05-30-2011, 08:27 AM   #11
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Default Thank You

Thank you asset for the advice. I actually have been going to credit unions. We are actually a member of one. Since we are new, we have been going to banks, FCU's, buy here pay here, title loans, you name it. I literally go door to door. I like the companies to know us personally not just through phone calls. I have a professional biz packets that I had out. Very professional. We are getting business, but most are hard to find because they are ghosts. But, the Lord will help like he has so far.
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Old 05-30-2011, 12:58 PM   #12
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Thank you asset for the advice. I actually have been going to credit unions. We are actually a member of one. Since we are new, we have been going to banks, FCU's, buy here pay here, title loans, you name it. I literally go door to door. I like the companies to know us personally not just through phone calls. I have a professional biz packets that I had out. Very professional. We are getting business, but most are hard to find because they are ghosts. But, the Lord will help like he has so far.
Stay away from Title Loans as well. Waste of time. I don't know what part of country you're in.....But, I'd target small to medium sized credit unions. Let's say those that have around 40,000 members or smaller. These are the easiest to get into. The collection manager is accessible and willing to meet with you. Anything larger and the collection manager will protected by the gate keeper. I'd specifically target credit unions who's members consisted of City Employees, Teachers....Ya know, those with small paychecks. Think about it.

And, for God's Sake. Tell them upfront that you charge a close. If they say they don't pay one.....Say thanks but no thanks.

If you have any questions.....by all means. Keep them coming.

I have no problem helping.
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Old 01-29-2012, 06:16 PM   #13
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I TOTALLY disagree!!! Business is business....I have done title loan companies in the past.The money is just as good if not better than ANY other bank...You can actually make more money if you can locate the collateral in question that the other company cannot!!!! Do something different!! Make your company stand out from the rest...I have made MANY MANY repo companies look bad because we produce when others can't!! Most of the time it is just a matter on investing more time into locating the collateral that other busier companies do not!!This obviously adds another $50.00 to $200.00 + ONTO THE BILL!!!

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Stay away from Title Loans as well. Waste of time. I don't know what part of country you're in.....But, I'd target small to medium sized credit unions. Let's say those that have around 40,000 members or smaller. These are the easiest to get into. The collection manager is accessible and willing to meet with you. Anything larger and the collection manager will protected by the gate keeper. I'd specifically target credit unions who's members consisted of City Employees, Teachers....Ya know, those with small paychecks. Think about it.

And, for God's Sake. Tell them upfront that you charge a close. If they say they don't pay one.....Say thanks but no thanks.

If you have any questions.....by all means. Keep them coming.

I have no problem helping.
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Old 01-29-2012, 06:20 PM   #14
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Also, make sure you have a durable hold harmless and contract that states that you charge for your time,effort and expense,etc.,etc.,....I do NOT recommend working for companies who expect you to work for free!!That is NOT worth your time!!! Ken

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Originally Posted by assetadjusters View Post
Stay away from Title Loans as well. Waste of time. I don't know what part of country you're in.....But, I'd target small to medium sized credit unions. Let's say those that have around 40,000 members or smaller. These are the easiest to get into. The collection manager is accessible and willing to meet with you. Anything larger and the collection manager will protected by the gate keeper. I'd specifically target credit unions who's members consisted of City Employees, Teachers....Ya know, those with small paychecks. Think about it.

And, for God's Sake. Tell them upfront that you charge a close. If they say they don't pay one.....Say thanks but no thanks.

If you have any questions.....by all means. Keep them coming.

I have no problem helping.
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Old 05-31-2011, 06:45 PM   #15
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Asset, your very sweet and lots of good advice. We have actually, by the grace of GOD have a few title places now under our belt. We are relentless, and just bug the crap out of them till they give us the car. lol. hey it works for us as newbies, but, we are gonna try a few lil games with the advice from this blog.
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Old 06-05-2011, 10:31 AM   #16
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Calling the large finance companies to talk about repos is a pain, you need to talk to like 5 morons to get to the right dept/person
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Old 06-05-2011, 07:48 PM   #17
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Quote:
Originally Posted by nvtowing View Post
Calling the large finance companies to talk about repos is a pain, you need to talk to like 5 morons to get to the right dept/person
If you ever get to the right person.
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Old 01-28-2012, 06:26 PM   #18
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Enlighten me on how to get Ford... Been trying to get them for over 5 years.. Not sure if I did get them I would be happy as its 1 price for everything transport, key, repo, skip etc.. I would be ecstatic to get them I have gotten the run around for years and its usually a very rude person on Ford end and probably the "gate keepers"
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Old 01-28-2012, 11:25 PM   #19
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Ford is no longer where its at....

4+ years ago they were great..Not anymore....

Ford has a procedure in place to become a vendor and its a process, and its not always quick.

What have they been telling you when you get the run around?
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Old 01-29-2012, 12:46 PM   #20
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Quote:
Originally Posted by Patriot Recovery View Post
Ford is no longer where its at....

4+ years ago they were great..Not anymore....

Ford has a procedure in place to become a vendor and its a process, and its not always quick.

What have they been telling you when you get the run around?
Well for the past 3 years its "we don't need any more agents in your area thanks click" or the usual "email us a packet if we need you we will contact you.


Honestly The work out here is good real good high 1st run rate etc. I know who has them out here and who has secondary man it would be nice to even be a 3rd stringer lol


I would love to hear what this process is Ill start on it and make it my 10 year plan

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