No.1 Auto

The No.1 Auto module is designed to manage the end-to-end process of vehicle recovery (repossession), evaluation, auctioneer management, and final settlement or litigation for non-performing loan contracts.

1. Car to No.1 Auto Case Outline

Once a contract is flagged for recovery, a case outline is created. This section provides a comprehensive overview of the financial standing of the loan at the time of recovery.

• Loan Detail: Displays the contract number, customer contact information, and occupation.

• Financial Summary: Includes the total loan amount, interest rate, number of payments, and current outstanding balances (Principal, Interest, and Penalties).

• Got Car Information: Records the date the vehicle was recovered, the collection staff responsible, and the storage location.

• Reporting: Users can generate printouts for the above details in documents.

2.  Ringi Information

This stage records the physical recovery of the asset and the internal approval (Ringi) details.

• Ringi Information: Tracks the internal approval workflow, including:

  • Staff In-charge: The officer managing the case.

  • Sale/Checker/Collection: Assignment of specific staff members for the resale process.

• Contact & Asset Investigation: Evaluates if the customer or guarantor can still be contacted and identifies any other known assets (land or other property) for potential recovery.

3. The Auctioneer (Buyer Management)

To ensure the best recovery value, multiple bids are tracked in the Auctioneer section.

• Top Buyers: A list of potential shops or individuals providing quotes.

• Data Points: Tracks the shop/person name, contact info, buying/selling price, currency, and the deadline for the offer.

• Ranking: The system allows ranking offers into five categories to determine the best outcome:

  • S: Sell for a profit. 

  • A: Sell for the principal and interest.

  • B: Sell for the principal only.

  • C: Sell for 60% or more of the principal.

  • F: Sell for 40% or less of the principal.

4. Evaluation & Final Pricing

Before a sale is finalized, a price comparison is conducted.

• Price Assessment: Compares the "Price should be" (internal valuation) against "Price from FB" (market value from social media/Facebook) to ensure competitive pricing.

• Negotiation History: Records all communication with the customer regarding the remaining debt after the car is sold.

5. Repair Information

If the recovered vehicle requires maintenance to increase its resale value:

• Repair Details: If it is a repair or not (Yes/No), Records whether repairs are needed, the total cost, currency, the staff in charge and, the details of repairable

• Documentation: Allows for the upload of repair invoices or photos of the vehicle's condition.

6. Negotiation 

• This section manages direct communication with involved parties.

  • Negotiation Types: Includes Call, Visit, or Come to office.

  • Parties Involved: Negotiations can be held with the Customer, Guarantor, Family, or a 3rd party.

    • For 3rd parties, details such as relationship, name, and phone number are required.

  • Contact Met: Tracks whether the contact was successfully met (Yes/No).

  • Negotiation Results: Outcomes include "Will return," "Will sell by customer," "Agree to sell and will pay the remaining amount," "Agree to sell and not willing to pay the remaining," or "Not willing to pay & depend on LALCO".

  • History: Users can view and export the full negotiation history.

7. Credit Settlement 

After the vehicle is sold, the system calculates the remaining financial gap.

• Credit Information after Sold Out:

  • Calculates the deficit (sale price compared to remaining principal).

  • Tracks the percentage of loss against the total outstanding debt.

  • Determines the final recovery status ranking.

• Status Updates: There are seven available statuses:

  • Pending, On sale, Return, Sold out, Broken, Lalco Office, and Litigation.

• Information Sections (Broken / Lalco Office / Litigation): For these statuses, final comments and notes are recorded before clicking Approve to move the case forward or send it to the legal department.

Key Actions

• Save: Commits the current information in a specific section.

• Export: Allows downloading negotiation and case histories.

• Approve/Cancel: Finalizes the litigation or settlement process.