At Copart, we do not follow a ‘one size fits all’ model when it comes to our customers and we pride ourselves on identifying bespoke solutions to suit individual market needs. This is especially true when we consider our Automotive customers across finance, fleet, retail and rental.
Finance companies are a great fit with Copart Automotive, as the services we provide enable them to quickly recuperate maximum value from the unique circumstances of the vehicles they handle, such as repossessions.
Our continuous review and development of services for our customers in the non-salvage sector means we can offer both short-term and long-term value, by providing innovative solutions for the specialist remarketing required for their vehicles.
A great demonstration of delivering long-term value is our five-year partnership with Varooma (the trading name of Greenlight Credit Ltd) who are a UK market leader in logbook loans, providing loans secured against customer vehicles.
Varooma was voted ‘Best Logbook Loan Provider’ for two years running at the Consumer Credit Awards in 2017 and 2018, and are the logbook lender with the most positive ratings in the UK on Trustpilot.
Varooma uses Copart Automotive to sell vehicles that are repossessed or voluntarily surrendered by their customers, utilising our bespoke services designed for this type of finance market.
Danny Parsons, Repossessions Manager at Varooma, said:
“We decided to start working with Copart due to the level of nationwide coverage they provided, as we have customers up and down the country. The good returns on sold vehicles, the costs, and the fast and efficient collection of vehicles has maintained our interest in using Copart’s services ever since.”
Our dedicated customer account management service, alongside a focused end-to-end process tailored specifically to Varooma, has enabled us to keep growing and adapting in line with their changing needs so we can provide them with the services they need to receive maximum returns.
“I have been very happy with our relationship with the Copart Automotive Account Managers past and present,” said Danny. “I can honestly say I have not encountered one issue or problem and I find it so much smoother having one Account Manager across all the sites, as opposed to a manager per each site as it is with other companies.”
Benefits enjoyed by Varooma include 14 days pre-auction storage during the legal period of notice, cleaning of vehicles to dispose of internal rubbish, and the imaging of vehicles separately. But the biggest win for the company, according to Danny, is the fast turnaround time provided by Copart Automotive.
“The cost and time benefits that we have seen through using Copart Automotive have been the most impactful elements of the service for us,” said Danny. “When I need a vehicle collecting, I have no hesitation in contacting my Account Manager to have the collection arranged as I know it will be done promptly, professionally and cost-effectively.”
This is of course supported by the experience and knowledge of the Copart Automotive team and our patented online auction platform, which makes selling to an extensive global buyer base fast and simple.
The clear remarketing of Varooma’s vehicles as repossessions by our specialist team has achieved excellent sale volumes and prices, which has benefited Varooma, their clients and Copart… and is the reason why we have enjoyed such a long-standing and successful partnership.
“The main benefits for using Copart’s services are the competitive prices of vehicles and the nationwide coverage, as well as the costing for these services,” Danny said. “Having one dedicated Account Manager is also a major benefit, as this is a much cleaner and smoother way to work and I think a lot of other companies would agree!”
Mark Godfrey, Director of Automotive at Copart, added:
“Our relationship with Varooma is an excellent illustration of how Copart Automotive offers the vehicle finance sector a hassle-free route to realising returns on their vehicle assets, which is both quick and profitable. Given the likely rise in repossessions, our solutions, coupled with our unique global buyer base, means we can clearly support this sector as their remarketing needs increase.”
To discover more about our automotive solutions, and the sectors Copart serve across the UK motor industry, visit remarketing.copart.co.uk.