MT. ARLINGTON, NJ – Jim Chapman, national remarketing manager, Credit Accetance Corp., Vehicle Remarketing Services (VRS), has been named to the International Automotive Remarketers Alliance (IARA) Board of Directors.
Chapman has 14 years of remarketing experience. He began his career in 1987 at Benton Harbor Lincoln Mercury, in Benton Harbor, Mich., learning the business of selling new and used vehicles on the retail level
From 1993-95 he worked in a small used-car dealership in Flint, Mich. At Ace Auto, he was involved in the retail and wholesale aspect, where he became the dealership’s primary buyer, purchasing used vehicles at local auctions.
In 1995, Chapman joined a small one-lane auction in the Flint area as auction and marketing manager, responsible for all consignment, marketing, telemarketing, pre-sale activities, transportation, and inside and outside personnel. Although Public Auto Auction was a small player in the local auction scene, he obtained consignments from local dealerships and financial institutions. During his one-year tenure, Chapman increased consignment and sales by more than 480 percent.
In 1996, he was hired by Guardian National Acceptance Corporation (GNAC), a sub-prime finance company based in Southfield, Mich., to improve upon sales results in the company’s repossession liquidation process. GNAC assets were located primarily in the Michigan and Midwest region and averaged around 1,000 units per month. Under Chapman’s guidance, the corporate philosophy changed from one of “liquidation” to remarketing. Building upon his wholesale sales and auction management experience, Chapman worked with selected regional auctions to begin a more extensive reconditioning program geared to maximize the value of the company’s vehicles. Under Chapman, GNAC’s net sales retention dollars increased by more than 115 percent.
In 1999, Chapman was hired by Federated Capital, a leasing company based in Farmington Hills, Mich., where he was responsible for all aspects of the vehicle leasing portfolio end-of-term strategy, remarketing, and repossession processes.
In September 2000. Credit Acceptance recruited Chapman to head the remarketing division, Vehicle Remarketing Services (VRS), as national remarketing manager. Based in Southfield, the VRS portfolio contains repossessed units and a small lease portfolio with inventory in the USA and Canada. Monthly USA sales volume is approximately 2,000 units per month. Chapman is also responsible for two additional departments: Redemption and Statutory Compliance.
Chapman’s vision for the IARA is that it will continue to become a more major force providing innovative guidance for the entire remarketing Industry and helping others to create standards, education, and guidance tools that will allow remarketing professionals to conduct business more effectively.