Debexpert Launches the First Auctions for Performing Car Loans

Debexpert, an online auction for the sale of debts, begins selling performing car loans in the United States. The first auction for the Northwest Acceptance company's portfolio will be held on September 29.

According to the company, the file includes the provision of secured subprime car loans originated in Indiana. The average balance is $ 4,800, and the average rate is 15.84%. It is important that all cars are equipped with GPS trackers, and there is no reporting to credit bureaus.

"The sale of performing loans is a new direction for our company. We are confident that the auction mechanics, which were tested at numerous auctions for charged-off accounts, will make the market of performing loans in the United States more efficient, and will enable business development for both owners of such portfolios and their buyers," said Ivan Korotaev, CEO of Debexpert.

To sell a package of performing loans, the owner publishes a loan portfolio with masked data on an online platform. Potential buyers can evaluate the portfolio before the start of trading to make a decision about participating in the auction. The winner of the auction is the company that offered the maximum price. Afterward, the portfolio is transferred to the new owner under the assignment agreement. At the same time, all the terms of the loan agreement are unchanged for the borrower.

“Debexpert made it incredibly easy for me to access a nationwide group of portfolio buyers to maximize the value of my performing loans. The whole process took me less than two hours," says Bill Caan, owner of Northwest Acceptance.
Only verified buyers registered on the auction platform have access to detailed information about the submitted masked file. You can take part in the auction, both through the desktop version and by using a mobile application for buyers.

16192 Coastal Highway Lewes, DE, 19958

pr@debexpert.com

Debexpert is an online debt trading platform established in 2019. The company works with lenders and professional investors, providing services for online auctions of debt portfolios in several countries. Learn more at: Debexpert.com.

This release was published on openPR.