The Repo Man Returns as More Americans Fall Behind on Car Payments

bloomberg.com

4 pointshalabarouma6 comments

> One of the main problems for the industry, judging by the panel discussions and side chatter, is finding enough people to repossess all the cars

I wonder why they don't offer the borrower a lump-sum payment to voluntarily surrender their vehicle and drive it to the repo yard.

RepoNut YT account around 2010-15 during market downruns is a good snapshot of repo man life. Only difficult repos involving black market data brokers geolocating the owner (~$100 at the time) paid couple of hundred dollars. Normal quick lift and tow payout was on the order of tens of dollars, people with secured parking lots got more money for holding cars than drivers for actually finding and grabbing them. GPS trackers were stating to be prevalent at the time, but mostly useless as people hid cars in metal trailers or were actively looking for and disabling tags.

Most difficult grabs were for cars kept out of spite or desperation.

Ooh! That was one of my favorite movies!

Came here to say the same.

"Come on, kid. Let's go get a drink." ;)

"I blame society..."

- Leila: What about our relationship? - Otto: What? - Leila: Our relationship! - Otto: F@ck that! - Leila: You sh@thead! I'm glad I tortured you!

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