GM Financial Partners with OPENLANE, DataScan Field Services for Off-Lease Remarketing Program
FORT WORTH, Texas — General Motors Financial on Tuesday revealed
alliances with both OPENLANE and DataScan Field Services to support a new
online remarketing program for off-lease vehicles.
The GM Financial DealerSource program is designed to be used
by GM dealers when leased vehicles financed by GM Financial begin to come off
of a lease.
GM Financial launched its lease program that's available
only through franchised dealerships in December 2010. The company expects the
first leased vehicles to start returning to GM dealerships as leases mature
next month.
Key features of the GMF DealerSource program include the
ability to scan vehicle identification numbers (VIN) using a smartphone,
accepting digital signatures, the ability to floor vehicle purchases directly
with GM Financial, live customer support and integrated vehicle transportation
options.
GMF DealerSource officially launched on Nov. 1.
GM Financial explained its new end-of-lease program can be
broken down into three main components: customer communication,
dealer-grounding process and vehicle remarketing.
GM Financial begins notifying customers of their end-of-term
options six months prior to the vehicle's turn-in date. Customers have the
choice to lease or purchase another vehicle, turn in the vehicle they are
currently leasing, or purchase their current vehicle.
Three months from lease maturity, GM Financial mails an
end-of-term guide to customers. The kit includes a wear-and-tear guide and a
measuring tool that helps determine if dents, dings and tire tread warrant
additional charges, and provides step-by-step instructions for turning in the
vehicle, making the customer's end-of-lease experience a smooth transition.
Beginning at 45 days to maturity, GM Financial encourages
the customer to meet with a third-party inspector to have the vehicle inspected
at a local GM dealership prior to turning in the vehicle.
For returned lease units, GM Financial offers the grounding
dealer 48 hours to purchase the grounded vehicle at a market-based price set by
the company.
Vehicles not purchased by the grounding dealer are made
available through an online auction exclusively to GM dealers that participate
in GM's certified pre-owned vehicle program.
Unsold vehicles then go into a two-day online auction
exclusive to GM franchised dealers.
Any unsold vehicles are then made available to all dealers
utilizing OPENLANE.
"We wanted to provide our dealers and customers with a
convenient, efficient and hassle-free lease turn-in process," said Dan
Heinrich, vice president of asset remarketing at GM Financial. "In order to do
that, we've created a website for our dealers to access during the vehicle
turn-in process. Our customers will receive a step-by-step guide outlining
exactly what to expect from GM Financial as they approach the end of their
lease term.
"Our goal was to develop a cutting-edge turn-in process for
grounding GM vehicles. It was essential that the program be compatible with the
needs of our dealer partners, meaning, it needed to be online, mobile, or even
available on a smartphone or tablet device," Heinrich went on to say.
OPENLANE chief executive officer Peter Kelly emphasized his
operation has extensive experience in online remarketing and a deep
understanding of the needs of both dealers and lenders.
"We're proud to partner with GM Financial to build an
industry-leading program for GM dealers which will significantly improve their
experience of managing an off-lease portfolio, grounding lease returns, and
purchasing vehicles from GM Financial," Kelly said.
"GM Financial has been a tremendous business partner through
the deployment and we believe that GMF DealerSource will be a very important
part of the remarketing process for GM Financial and GM dealers in the years to
come," he went on to say.
In a related development, GM Financial selected DataScan
Field Services as the exclusive provider for pre-term and post-term vehicle
inspections.
DataScan contends that GM Financial is reinforcing its
commitment to developing a stronger, more transparent end-of-lease process.
DataScan's technology-driven inspection service are designed to offer the
captive finance company greater efficiency and a more streamlined experience
for both dealers and consumers alike.
"GM Financial is dedicated to providing dealers and
consumers with top-notch service and the ultimate in proactive, transparent
communication," said Brent Sergot, vice president and general manager of
DataScan.
"We are grateful for the opportunity to offer the expertise
and technology GM Financial is looking for to empower its dealers while keeping
customers informed throughout the end-of-lease process," Sergot continued.
Heinrich added, "DataScan provides state-of-the-art services
specifically tailored to our needs and the needs of our dealer partners. With
DataScan's assistance, GM Financial can now offer an efficient and
technology-driven end-of-lease process for our dealer partners."
Normal
0
false
false
false
EN-US
X-NONE
X-NONE
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:”Times New Roman”;
mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}