repossession of car for nonpayment

[Louis Koo]

who pays for the repo guy (i.e. the bank does as a cost of doing business, or the cost is added to the car bill and sent to bill collectors?)

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[Non-StopJFK2TAB]

What's another debt that can't be paid?

 

[BDR]

The bank pays the repo man 10% I believe of what the car is worth if they take possession of the vehicle

The bank then sells the car at a dealers auction

The person who's car got repo'ed is on the hook for the difference (negative equity)

 

[Snatch Goblin]

The bank or finance company pays up front. It can range from $250 to $500 depending on state laws. The customer is billed that fee along with everything else they owe to get the car back.

 

[CoTtOnMoUf]

ain't no fucking way i'd do that job!

for all the time he took, dude would have been shot by now doing that shit here in certain parts of Cleveland!

 

[Dirtylakerie]

What was that noise when he backed up at the end at the 5 min mark?

 

[ANGRY MAN]

Sound like the boom, which raises the car up and down. It scrapped the street cause it was a dip. Usually you have to raise it up or down depending on the dip. He was so press to get out of there though.

Plus he could've damage the transmission pulling it out from the parking space. He dragged it out!

What was that noise when he backed up at the end at the 5 min mark?

 

[InTheMind]

Don't forget the title loan people they are the biggest repo senders!

 

[BDR]

What was that noise when he backed up at the end at the 5 min mark?

He was fucked up the transmission of a FWD car instead of hooking the car up from the front