Posted on 07/14/2022 10:44:15 AM PDT by Red Badger
Car Repos are exploding because used car prices are exploding. Miss your payment by one day, and in the past the finance company would probably let it slide or penalize you a few bucks.
Now they'll snatch your ride and flip it for more than the outstanding loan value, and pocket the difference.
Not for Emilio.
Be sure to take the Vroom cars buy backs out of the numbers.
most leased cars and trucks now have a HIDDEN GPS system in them so that the lender can find and REPO the vehicle.
Very easy and efficient.
Repo man?..................
Lots of losers defrauded Covid stim and u.e.covid cash and bought new cars
Stim money gone , cars gone.
.ymo.
And still charge you for the interest........
Meanwhile, the largest used car auction that traded hundreds of vehicles every Thursday closed in recent weeks.
It was a very large operation and was in business a very long time
Some dealers have very few used cars on their lots
This is GOOD news. Not bad.
Dead wood can be removed from the forest floor.
No bailouts. For anyone.
Now they’ll snatch your ride and flip it for more than the outstanding loan value, and pocket the difference.
Not here in MN we won’t.
If I sell a repo for more than owed I have to give the difference back to the idiot I repo’d it from.
I get a call every other week from the dealer in Ft Worth wanting to buy back my car.
“Car Repos are exploding because used car prices are exploding. Miss your payment by one day, and in the past the finance company would probably let it slide or penalize you a few bucks.”
You have it backwards. I suggest you to read the article.
How do I go about looking for cars that have been repossessed?
I need a car and this seems to be a good time to buy one.
Banks and credit unions usually have them on their websites.
My credit union accepts sealed bids on repos.
If you are high bidder, you get it......................
It was a bad omen the first time it was posted, too.
https://freerepublic.com/focus/f-news/4077477/posts
But realize that every used car dealer in a hundred miles is bidding against you, so bid accordingly..................
Mine has a chart, so there....................
Yes, we had on near here that’s now gone...................
hidden?
we still have to have a signed discloser stating its in the car.
however, I have the one they find.
and the one that works ;)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.