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SmartAuction, Renovo Services Begin Selling Repossessed Vehicles

November 16, 2011

 

DETROIT – Ally Financial’s SmartAuction vehicle auction web site and Renovo Services today announced that they have started selling repossessed vehicles directly from secured storage facilities across the country.

The Renovo company, ReposDirect.com, will utilize SmartAuction as a resource for lenders to sell vehicles more quickly, more economically, and with less risk of damage.  For dealers, it will be a central source to buy repossessed vehicles nationwide without having to leave their dealership.  ReposDirect.com will coordinate inspection and final transport for all vehicles after the sale.

Users of SmartAuction will have access to ReposDirect.com vehicle listings from all secured lots and the site will continually be updated with new offerings.

“The ability to move repossessed vehicles back into the market quickly and efficiently maximizes value for lenders and dealers,” said Kevin Flynn, CEO of Renovo Services. “We’re pleased to be able to offer to our customers access to one of the most vibrant selling communities in the industry. SmartAuction’s technology expertise and broad user base further helps Renovo Services strengthen its reputation as a leading provider of vehicle transition solutions. Through our investments in technology and integration, we are poised for tremendous growth in 2012 and beyond.”
 
“The addition of Renovo’s vehicle inventory to SmartAuction provides even more choices for the thousands of buyers that depend on the online market SmartAuction offers,” said Steve Kapusta, vice president of SmartAuction.

About Renovo Services, LLC
Renovo Services, LLC, is the vehicle transition industry’s most fully integrated single source solution to the financial services industry with the following brands:  ACCIS Solutions, Allegent Recovery, Skip Pros, Compellum, and ReposDirect.com. Renovo Services covers the entire delinquency process by offering recovery management, direct repossession, skip tracing, and collection services. For more information on Renovo Services and The Renovo Companies visit us at www.renovoservices.com

About SmartAuction
Launched in 2000, more than 3.7 million vehicles have been sold through SmartAuction since its inception. More than 16,000 vehicles are listed on the online auction site daily representing 55 vehicle makes and 18 recreational vehicle and motorcycle makes in 2011. SmartAuction is a unit of Ally Financial Inc.  For more information, visit www.smartauction.biz.

Ally Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world.  Ally's other business units include mortgage operations and commercial finance, and the company's subsidiary, Ally Bank, offers retail banking products.  With approximately $182 billion in assets as of Sept. 30, 2011, Ally operates as a bank holding company.  For more information, visit the Ally media site at http://media.ally.com.

11/16/11

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