Ever Had a Car Repo??

[Beemerboy]

I was watching this program on TV about cars that lending institutions take back.

I have to say that`s some risky business, these guys are quick and sneaky.



I had a GF that I was living with back in my 20`s she had a Honda that she went delinquent on the payments for 3 months. Since we where just shacking up all bills like that where paid separate.

The apartment had a two car, carport one in front of the other. I had my 535i in the back and her`s up front. ( there was no special reason for this so I thought)

The next AM I came out and as I walked up to my car, I noticed that the car was at an angle and farther in that what I remembered parking...sure enough the Honda was GONE!

Watching this TV program last night they have these jacks with wheels that they stick under the car jack up and can move the car with out any problems / noise.

We ended up getting the car back for her but what a hassle!!!

[GCSurfer]

I have not, but one of my good friends I grew up with, his dad was in the repo business. And it`s not just risky but very dangerious, he has had several people chase/run after him, weapsons pulled on him, and had been in other types of situations.

[CharlesW]

Two of my friends have done the "Buy here, pay here" thing at their used car lots over the years.
Like any other clientelle, some pay like clockwork, others don`t.
The one guy has pretty much gotten away from it except for a few customers he has dealt with for years.
You would have to know this person to appreciate this, but he says he kind of misses the repo part of the business. He really enjoyed it. :)

Charles

[BLUELINE 1]

I can`t say that I have, but I`ve been to several calls in the past where people woke up thinking their ride had been stolen. There has been occasions where the repo-man himself had to call due to being shot at. It`s a risky buisness for sure.

[Beemerboy]

I can`t say that I have, but I`ve been to several calls in the past where people woke up thinking their ride had been stolen. There has been occasions where the repo-man himself had to call due to being shot at. It`s a risky buisness for sure.

Blue

I would bet that most all people that call because their cars is stolen, now what has happened...according to what I learned the repo companies have to notify the local police to report that they are under bank / lenders orders to preform this action

[CharlesW]

I can`t say that I have, but I`ve been to several calls in the past where people woke up thinking their ride had been stolen. There has been occasions where the repo-man himself had to call due to being shot at. It`s a risky buisness for sure.
Sounds like you could be in law enforcement.
Here I thought you were in some sort of construction planning.
Blueline, blue prints.
Wrong again. :)

Charles

[Jngrbrdman]

I would avoid a repo as hard as I could. The bank will repo the car and then sell it at auction. Everybody loves auctions because you can get a $40K car for $25K. The difference is sent to a collection agency that will then come after you. Some people think they can just stop paying on the car and the bank will take it away and that is that. WRONG. You still owe them money for the car. They aren`t a dealership, so they aren`t going to put the car in the classifieds and wait for it to sell. They will get whatever they can for it and then come after you for the difference. When push comes to shove they will just get a judgement against you and garnish your wages or keep your tax return or any of the other nasty things they can legally do to collect a debt. Repos are very very bad news. They are a great way to destroy your credit, that is for sure.

[BLUELINE 1]

Sounds like you could be in law enforcement.
Yes I am Charles.

I would bet that most all people that call because their cars is stolen, now what has happened...according to what I learned the repo companies have to notify the local police to report that they are under bank / lenders orders to preform this action
Their suppose to call, but they don`t always.

[audiboy]

I almost had the Audi repo`d at no fault of my own in `05. A few months before a deployment, I decided to refinance the car with my credit union instead of the out of state bank I had originally went with. I filled out all of the correct paperwork and my credit union sent a check to the other bank. I then started sending payments in to my bank. A few days before I left, I got a phone call from the original bank asking when they could expect a payment that was already 2 months overdue. I told them that I refinanced the vehicle and that my credit union sent a check to cover what I owed them. I also told them that I already notified them about the refinance when I was going through the process. I then went to my credit union and asked them why I`m getting a call about delinquent payments. They said that they sent the check out and that it just hadn`t cleared yet. I told them about my upcoming deployment and told them that they needed to straighten it out. I said that it was a little ridiculous to have a very large check that was sent to another financial institution not clear in two months. At that point they said everything would be taken care of. A month into my deployment, I get an e-mail from my buddy who was taking care of my house. He informed me that he got a letter from the original bank telling me that any further refusal to pay my outstanding balance on my vehicle would result in repossession of the vehicle. I was shocked and angry at the same time. I made a quick phone call to my mother and she told me that she would ensure that it would be straightened out in no more than two days. Sure enough, she persuaded my credit union to work things out with the other bank immediately. It`s amazing what an angry mother can do for her child. :lol:


Cliff notes: Refinanced vehicle, old bank didn`t get check, threatened to repo my vehicle while I was in Kuwait, mom got on the phone and straightened it all out for me.

[Pockets]

The things that you are talking about that jack the car up. Do they go under the wheels? If so we have them on our rescue fire truck so we can move it off another car if they got into a collision. They have 4 little wheels and they go under the 4 tires and lift it up you could move the car anywhere without any noise.

[Poorboy]

Cliff notes: Refinanced vehicle, old bank didn`t get check, threatened to repo my vehicle while I was in Kuwait, mom got on the phone and straightened it all out for me.
Is this like the Geico commercial with a paid professional telling your story?

...changed my bank, almost lost the car, had to go away, mom made everything ok ....picture Peter Graves saying it and touching his nose:crazy2:

[Beemerboy]

The things that you are talking about that jack the car up. Do they go under the wheels? If so we have them on our rescue fire truck so we can move it off another car if they got into a collision. They have 4 little wheels and they go under the 4 tires and lift it up you could move the car anywhere without any noise.

These looked like scissors jacks that would go under the front and back of the car and rasie it up and then you could push it around

[audiboy]

Is this like the Geico commercial with a paid professional telling your story?

...changed my bank, almost lost the car, had to go away, mom made everything ok ....picture Peter Graves saying it and touching his nose:crazy2:


If it were a Geico commercial, I would like Morgan Freeman to tell my story. I know some people don`t like to read long posts, so I give cliff notes when I think it`s necessary.

[Poorboy]

If it were a Geico commercial, I would like Morgan Freeman to tell my story. I know some people don`t like to read long posts, so I give cliff notes when I think it`s necessary.

My kids like the guy from Austin Powers (mini me) standing on the table ...:D

[Bobcat]

I like the Little Richard one, mashed potatoes and gravy! cranberry sauce...WOOOOOOOOOOOOOOOOOOOOOOOOO