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Blacklisting with RTO Authority

Communicate with the appropriate Regional Transport Office (RTO) authority to initiate the blacklisting process for the repossessed vehicle. Provide the required information, including the vehicle details, ownership transfer documents and reasons for blacklisting as per the bank's instructions.

Vehicle Tracing

Utilize advanced technology and tracking systems to locate the repossessed vehicle. This may involve using GPS tracking devices or other methods to determine the current whereabouts of the vehicle.

Transfer to a Secure Yard

We have 5 to 6 parking yards in multiple locations/cities which is our significant responsibility, that involves managing and overseeing multiple parking facilities. We do adherence to legal and ethical standards in your parking yard operations. With secure storage, tailored services and meeting the unique needs of your clients, we have a reputable and successful parking yard for seized vehicles, corporate clients and newly finished cars.

Maintain Inventory Database

Create and maintain an inventory database of all the repossessed vehicles stored in the yard. This database should include essential information such as vehicle identification number (VIN), make, model, condition and any other relevant details for easy reference and management.

Provide Vehicle Valuation Report

We have skilled and qualified vehicle valuators who offer vehicle valuation report within 72 hours. This report assesses the current value of the repossessed vehicle and provides an estimation of its worth. The valuation report is useful for subsequent processes such as negotiation and potential sale.

Negotiate with Borrowers

Initiate negotiations with the borrowers to settle the outstanding loan amount and close the loan. This may involve discussions on repayment options, loan restructuring, or reaching an agreement on the settlement amount. The objective is to resolve the loan matter and obtain the necessary financial closure.

Auction on Own Platform

The vehicle recovery agency can conduct auctions on its own platform or through a designated auction platform.

The repossessed vehicles should be listed for auction, including their relevant details and the valuation report.

Potential buyers can participate in the auction, and the highest bidder will win the vehicle. It's important to note that the exact procedures and requirements may vary depending on the specific policies and regulations of the bank or agency handling the vehicle recovery. Additionally, legal considerations and local laws should be taken into account throughout the process.