Close Credit Management and Manheim Inspection Services Launch Damage Collection Solution
August 2007
Close Credit Management (CCM) and Manheim Inspection Services have announced an innovative end-of-contract inspection solution aimed at contract hire, leasing and motor finance suppliers.
Leading service providers in their respective markets, CCM and Manheim are collaborating in this exclusive industry first. The partnership provides a unique approach to the often difficult area of collecting damage penalties, lease charges and account shortfalls at contract end.
Significantly reducing the credit control and collection cycle, data is sent via a web browser directly from Manheim’s vehicle inspectors. This includes full details of damage or missing items, supporting images, estimated repair charges, excess mileage and document status. Crucially, the driver’s signature is also obtained as verification and transmitted electronically with the inspection report. The solution also offers the option of a simultaneous inspection and immediate collection of the vehicle.
A key advantage of the new service is that CCM is now in a position to contact lease customers to discuss any charges and penalties due within 48 hours of the vehicle hand-back. Contact within such a short timeframe, backed up by a full vehicle condition report, significantly increases the successful recovery of monies due.
The service is suitable for the vast majority of funding deals written in the leasing and consumer motor finance sectors, covering Full Term contracts, Voluntary Surrenders and PCP returns. Accounts are typically turned around well within 60 days, a major improvement on the current norm, and collection routines are tailored by CCM to client preferences. Clients also benefit from online access to a comprehensive reporting and performance analysis package.
Commenting for CCM, Kevin Parker, Business Development Director, states “We are always looking for ways to expand our client proposition and by combining the activities of Manheim and CCM in this way we are now able to offer an innovative solution to an issue which has been a major problem for our industry for years.”
David Mercer, Managing Director of Manheim Inspection Services said “Having already successfully worked with CCM on other related projects, it seemed a logical step for us to ask them to be involved. There’s a lot of interest in this project and we’ve already launched a number of trials with key customers.”