Collateral Recovery Company Search

New Lender Directory for RI Listed Members!

Maintenance and Repairs of Your Repossession Equipment

repossession maintenace

Care Of Your Repo Company's Biggest Investment

Your trucks are by far are your biggest investment. Doing regular maintenance on your equipment will help them to last a long time. This not only includes oil changes, transmission maintenance and greasing the wheel lift, but it also includes keeping the cosmetics of the vehicle looking good. I think that I had the nicest fleet out of all the towing and repossession companies in my area. My drivers grasped the ideal that their truck was their office and they knew that they were going to spend a large part of every day in it. They were always checking their tires and washing and waxing their trucks. This not only helped keep the fleet of trucks looking good, but it also helped me when it was time to sell the trucks. Finding drivers that take care of your equipment is one of the hardest things to do.

I can tell this much, if you issue a driver a piece of junk to drive, then he will drive and take care of it like it is a piece of junk! I made it a practice to always be buying new equipment.

By purchasing new equipment, you get a truck that is under warranty. Your cost may be higher, but it is better to make a higher payment than have your truck sitting in the shop 50% of the time. Even worse is if you do not have the money to fix something major. This can not only hurt your business, but it could be the one thing that puts you out of business! If you your trucks are out of commission, then you are dead and in the water and your clients won’t be happy.

repo equipment maintenace

Maintenance Of Your Repo Equipment

Buying your equipment is the easy part; it is keeping it running that will cause you the most headaches. I found that doing preventative maintenance on my trucks was the key to keeping them out on the road and making me money. Not only did I do the scheduled maintenance, I had my mechanic inspect the trucks from top to bottom during maintenance time. He checked the brakes, hoses, looked for broken welds and bent pins in the wheel lift and checked for tire problems and other everyday wear and tear.

Maintenance can be the most expensive part of running a repossession business. I was able to cut my costs to practically nothing by doing most of my work in house. The way to do that is to have a driver working for you that is a certified mechanic. You can pay him 20 dollars an hour instead of the normal outrageous shop price at your local dealership. If you find an agent that possesses mechanical skills, then make sure that you take care of him. I always provided my mechanic with the newest self loader, paid his cell phone bill, threw him as many bones as I could and afforded him the respect that he deserved.

He saved me a lot of money because he had all the tools needed to get the job done. I believe that he was the most valuable employee that I had and to be honest, he was the best repo agent that I had as well. If you find a man like that, your company is destined for success.

Maintain your trucks from day one and never slack off on scheduled maintenance. Keep your trucks washed and waxed and always repair any body damage as soon as possible. Have monthly inspections of your fleet to see if the maintenance is current and if the trucks are clean. Demand that your drivers keep your vehicles clean inside and out. I was in a habit of inspecting trucks whenever the drivers were at the shop. I would walk up and check the vehicle inside and out. I would check the oil and the tire condition and also look for any body damage to the truck. When you issue an agent a $55,000.00 piece of equipment that is in mint condition, then you have the right to demand excellence. It is a slap in the face to you and a disgrace to your company when your agent does not care for your equipment.

Please fell free to start a thread in the forum if you have any further information on this topic that you would like to share.

New Lender Directory for RI Listed Members!