Traditionally, credit unions have sold their repossessed vehicles at a branch location, dealer lot, or at a wholesale auction. While these options can work, we offer a compliant solution that will result in a higher net return for your overall portfolio.
CUAuctions provides a new innovative solution. Our online auction, best practices and training solution gives credit unions another resale option - one that can deliver higher sales prices and lower deficiency balances.
- Online Auction - Our private labeled online auction gives credit unions the opportunity to resale vehicles in an environment that their members trust. With the ability to show vehicles on CUAuction's national site, credit unions can reach a greater audience, which can lead to new members and additional auto loans. Once the auction closes, we'll present you with all of the documentation necessary to finalize the transaction.
- Technology - We provide 24/7 online access for members, integrated online loan processes for pre-approval, and seamlessly bolt on to your current auto remarketing and disposition process. Our technology platform allows for vehicle photos, accurate VIN decoding, vehicle descriptions and trackable bidding processes.
- End-to-End - Our CUAuction platform allows for seamless transition into wholesale marketplace, which provides a greater value for your entire repossessed portfolio.
- Ease of Use - We provide a simple, self-managed system that puts the credit union in control of their own remarketing. For the members, we provide a single point of registration, easy access to credit union auto lending, and a simplified bidding environment.