American Lenders Service Company, the nation’s largest franchised collateral
repossession company, with over 400 franchises in 45 states, created and is
operating an Internet auction remarketing venue for its clients and other credit
grantors. The headquarters of this wholly-owned auction subsidiary, known as
ALSCO Auto Auction, Inc., is located at the Company’s headquarters in Odessa,
Texas, and can be found on the Internet at
What makes this web-based auction site unique is not the method of remarketing
repossessed and off-lease returns at auction on the internet, but its unique “no
seller fee” concept. ALSCO Auto Auction, Inc., charges its client/sellers
absolutely nothing for their use of this venue.
It offers American Lenders Service Company’s clients, including banks, credit
unions, finance companies, leasing companies, buy-here pay-here auto dealers and
other credit grantors, a unique “Commercially Reasonable” internet auction
service as a great cost-cutting remarketing tool. The Company’s clients sell all
types of repossessed collateral and off-lease returns, including automobiles,
commercial heavy equipment, marine goods, motorcycles, ATV’s, recreational
vehicles, lawn & garden tractors, farm equipment, commercial machinery,
household equipment and other collateral.
All items are sold “as is.” Titled items are sold exclusively to licensed
dealers, and following the sale, all “sold” items are released to the buyer at
the field location where the collateral is stored. Like most mainstream voice
auctions, a reasonable progressive fee is charged to the buyer for their use of
the auction venue. Unlike the mainstream voice auctions however, the seller is
charged absolutely nothing. That’s right! It costs the seller absolutely nothing
if the item is sold on the first run. The client is allowed to place their own
reserve on the unit being auctioned. Market Value Estimates are provided by the
Auction at no charge to the seller. How much is the client/seller charged for a
“no-sale” fee if the unit doesn’t sell on the first run? Absolutely nothing!
What is the client/seller charged to re-run their collateral? Absolutely
nothing! In the event the unit is re-run however, storage may be charged from
the date the unit was stored, less the five days the first auction was active.
One client/seller who now uses
advised that it was costing his company approximately $650.00 on average, per
unit, to remarket his repossessed automobiles. The client was pleased to know
that with the sale of approximately fifty units per month, he could save a total
of about $32,500.00 per month in transport and various other voice auction fees.
That equates to an annual savings of about $390,000.00!
A company that sells as many as 2,000 repossessions per month, as many major
multi-market lenders routinely do, could save over $15 million per year, a
savings that could go straight to the bottom line!
You can use
as a cost-cutting tool, too! If you finance it and have to repossess it, you can
remarket it on this site absolutely free of charge!
The cost-cutting advantages that you can enjoy include the elimination of
unnecessary transporting fees and the need for costly and often unnecessary
reconditioning repairs. This remarketing tool also allows you to eliminate
unnecessary “junk fees” for such items as a mandatory charge for fuel,
make-ready, administration, and last but not least, the well known voice auction
is both insured and bonded and operates under the watchful eye of a Texas
, there are no frills, no waste, and no nonsense!
Finally, this is a world-wide auction venue. Listings are not limited to any
“local” buyer’s market. Listings on this site are exposed to dealers who are
both national and international buyers! Due to the enormous reception from
dealers in Mexico accessing this auction website, the company plans to install
a complete Spanish language option for our south-of-the-border dealer friends.
For more information about how you can list your repossessed collateral on
, please contact: