CARY, N.C. -

The vehicle recovery sector of the automotive business is arguably one of the most difficult areas of the industry to navigate.

The lines cross between areas such as financial compliance and consumer protection, with state and federal regulations governing every step of the way.

As part of our inaugural Remarketing & Used-Car Industry’s 40 Under 40,  Auto Remarketing spoke with Josh Elias, the president and chief executive officer of Del Mar Recovery Solutions, to see what it takes to thrive in such a challenging environment.

“The largest challenge is getting our entire network on the same page,” said Elias, a member of our inaugural 40 Under 40 class.

And for a company like Del Mar Recovery, that network is huge. According to Elias, his company has roughly 100 clients on the lending institution side with about 750 repossession agents operating nationally and worldwide, while also managing repossessions internationally in Canada, Mexico, South America, Asia and Europe.

Looking specifically at operations in the U. S., we asked Elias what’s most difficult to keep things rolling with so many moving parts involved.

“With the different state laws and regulations and federal regulations, creating a process that’s in compliance in every state that we operate in is of the utmost importance for us,” Elias said. “With the network of 750 repossession agents nationwide, creating one consistent platform that creates the value add for our clients is the most urgent thing for us.”

According to Elias, not just anyone can jump into the recovery business and take the reins of a company such as his.

“It takes a unique skillset of understanding the process, understanding the needs of the lender, and then also understanding the emotions of the consumers who are in these situations,” Elias said.

“It’s just hard to be able to understand what the lending institutions need, understand what goes on in the field, and then also be able to manage the emotions of the consumers who are in these situations. And when you put all that together, that’s when you create a great product like we’ve created here at Del Mar.”

And that product, put as simply as possible, is a one-stop solution for lenders that ranges from the point of vehicle recovery all the way to putting money back into the client’s pockets. While Del Mar certainly offers its services a la carte, Elias says his company has been thriving over the last 18 months due to the growing interest for lenders to have one company handle the entire process for them from start to finish.

“We’re seeing the need for more of this one-stop, front-to-back solution as the volume of repossessions grows, as compliance continues to be at the forefront,” Elias said. “And finding good companies that are able to offer these front-to-back solutions in a compliant environment is very important for these lending institutions as they continue to grow their portfolios.”

Like any other business, it takes more than solid, sincere leadership and a great platform to thrive in a market as competitive and challenging as that of vehicle recovery and remarketing. For the final keystone, Elias points to the value of his employees, where he says he maintains a less than 1 percent turnover rate in all of company’s call centers.

“We focus on creating a great, culturally positive environment, so when we do have customer interaction, it’s a great experience for that consumer,” Elias said. “Rather than having someone that isn’t happy on the other side of the phone at the same time.

“Putting all these pieces together as well as continuing to focus on being a results driven business at the same time is what has made the Del Mar management team successful for the past 20 years in the industry,” he later concluded.

Editor's Note: This is one of several spotlight features included in Auto Remarketing's inaugural 40 Under 40. Stay tuned for more.