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Procurement Market Intelligence Report

Repossession Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Repossession Services?

What is the average price of Repossession Services?

This procurement report includes pricing information to help you purchase Repossession Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Repossession Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Repossession Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Repossession Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Repossession Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Market share concentration in the repossession services market is low. The market is highly fragmented, with about 4,400 suppliers currently operating in the United States, and the top four suppliers account for less than 30.0% of total market revenue. In fact, no single supplier earns more than 5.0% of total... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Customer Service

What is your repeat business rate? Do you offer incentives for repeat customers?

How do you track customer satisfaction?

How many people will be in charge of handling my account?

What procedures do you use to deal with customer complaints?

Amid widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees?

Experience

What are the most common issues you encounter when performing a repossession, and how do you deal with them?

How many repossessions similar to mine have you completed?

What is your rate of employee turnover? How many employees have left your company in the past year?

How much training do your employees receive upon starting at your company?

Timeliness

What is your procedure for beginning a repossession service?

How quickly can you perform a skiptracing service?

What is your average turnaround time?

Can you expedite a repossession, if necessary?

Are you experiencing fluctuations in demand as a result of the coronavirus pandemic? What measures are you taking to handle changes in demand?

Professionalism

Do your employees abide by a unified mission statement or code of conduct?

What kind of reporting is required of your employees?

How do you deal with complaints against your employees?

Do you have references willing to testify to your level of professionalism?

Regulation & Certification

How do you make sure that you strictly adhere to all regulations?

Have you ever been caught violating a regulation? If so, how did you deal with it?

What were the criteria you needed to meet to earn your certification to operate in this market?

Do you plan on earning any more certifications in the next three years?

Geographic Coverage

What geographic areas do you serve?

Do you charge any additional fees for going outside of this area?

Do you maintain a network of related suppliers outside of your service area?

Do you have expert knowledge of a specific area that exceeds that of your competitors?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should disclose their budget for purchasing repossession services.

Buyers should indicate their preferences for invoicing and payment.

Buyers should reference the Benchmark Price section of this report to verify that they are paying a competitive price for repossession services.

Selection Criteria

Buyers should evaluate providers based on their experience in the repossession services market.

Buyers should consider the timeliness with which providers can complete the repossession.

Buyers should take the professionalism of providers and their staff into account.

For a more detailed discussion of selection criteria, buyers can reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include the desired time frame for the repossession.

Buyers should state when vendor proposals are due.

Buyers should include when vendors will be notified about contract awards.

Buyers should indicate the length of the contract they wish to procure.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Supply chain risk for repossession services has been moderate in the three years to 2021. Moderate risk indicates that providers are more likely to encounter unanticipated disruptions to supply chains, which could raise operating expenses. Providers that face unexpected costs may be less willing to negotiate on price, thus decreasing... Subscribe to learn more.

HIGH

MEDIUM

LOW