Vehicle repo question

dereksbicycles

Active Member
Let's say that you bought a vehicle. You're paying monthly for it. You've fallen behind. Your vehicle was reposed.

Now you've to pay the standard repo fee. In order to get the vehicle back, you've to pay in full for it. They'll no longer let you make monthly payments on it. Pay in full and get it back.

Is that the standard process of repo?
 

soutthpaw

Active Member
Yep and the bank will sell it at auction. Then they will come after you for the difference in what they sold it for if less than you owed
 

diehardbiker

Active Member
Repos is not cheap, can easily screws any1, may take time before one could take another loan, at steeper interest rate.
 

CrazyPaul

Active Member
Some people file for bankrupt to avoid the payments. Indeed, they have hard times to get a new loan afterwards.

My friend did that way. Actually, it's the loaner's fault because the loaner approved it while s/he knew that the borrower had a financial hardship.
 

The Joker

New Member
Who saw TV show Repo man long time ago. And if Repo man tries to steal your truck you come out with shot gun and point at the guy and when cops come they tell you put gun down and you put gun down and next think they do is tell the repo man to leave the property. The man was right cause they're your right to defend yourself and protect your property.
 

DeafDucky

Well-Known Member
Actually, it's the loaner's fault because the loaner approved it while s/he knew that the borrower had a financial hardship.
The loaner's fault? wow... the loaner or car dealership or seller of the car does not always know this. When a person buys the car they could be in perfectly fine financial health then a year or two down the road fall on hard times or in the case of one I heard about...the ex screws over the owner and their car gets repo'ed without their knowledge (since the ex was supposed to keep up the payments...nope). They were able to get it back though since it was through a smaller local individual shop.

Who saw TV show Repo man long time ago.
which one? There's two of them--and both are still running.

Operation Repo
pretty much scripted this one

Repo Men: Stealing for a Living- Betting this one is heavily fabricated too.

Technically the repo man is not trying to "steal" the car.. they work for the BANK that owns the lien on the car-- so since the person is not paying (or is behind) they have the right to take it. From a quick google though it looks like it is "theft" in some states so...:dunno:

Now if the repo guy tried to take the wrong car...then yeah I can see that as stealing and the owner waving a gun in his face. Quick read shows me that for the most part doing repo work is not as glamorous or dramatic as the shows make it.
 

Foxrac

Well-Known Member
Premium Member
Who saw TV show Repo man long time ago. And if Repo man tries to steal your truck you come out with shot gun and point at the guy and when cops come they tell you put gun down and you put gun down and next think they do is tell the repo man to leave the property. The man was right cause they're your right to defend yourself and protect your property.
If you don't pay car payment then your car will be repoed, period.

Don't want your car repoed - pay car payment on time every month.
 

CrazyPaul

Active Member
The loaner's fault? wow... the loaner or car dealership or seller of the car does not always know this. When a person buys the car they could be in perfectly fine financial health then a year or two down the road fall on hard times or in the case of one I heard about...the ex screws over the owner and their car gets repo'ed without their knowledge (since the ex was supposed to keep up the payments...nope). They were able to get it back though since it was through a smaller local individual shop.
Don't you see? Any dealership may make a deal with a customer who has no credits or bad credits and knows that it may be repossessed. Once a customer files for bankrupt, the dealership has to sell the repossessed car for its value, probably much less due to the conditions of it. My friend signed the contract as a major signer for his son, co-signer who needed the car. The result was that his son failed to make payments on time or didn't make all payments so the loaner demanded the father who was the major signer to make payments and he refused to do so. That's why the car which his son drove was repossessed. Since the father who was the major signer, he had to file a bankrupt to avoid the payments that he was required to make.

Talking about private sellers, they must be paid in full before the customer gets the car.
 

Jiro

If You Know What I Mean
Premium Member
Who saw TV show Repo man long time ago. And if Repo man tries to steal your truck you come out with shot gun and point at the guy and when cops come they tell you put gun down and you put gun down and next think they do is tell the repo man to leave the property. The man was right cause they're your right to defend yourself and protect your property.
actually you're wrong.

1. the repo guy has a legal rights to repo your vehicle. that is not "stealing". you are in fact stealing a car by refusing to pay for it.... therefore the bank can legally take the car back. it's their property, not yours.

2. the cop will tell the repo guy to take the car and go

3. in process of repo'ing.. you do not have the legal rights to defend yourself (after he identifies himself that he's a repo guy) and your property as the car is not your property.

4. the repo guy is aware of the fatal risks involving in repoing a car
 

CrazyPaul

Active Member
actually you're wrong.

1. the repo guy has a legal rights to repo your vehicle. that is not "stealing". you are in fact stealing a car by refusing to pay for it.... therefore the bank can legally take the car back. it's their property, not yours.

2. the cop will tell the repo guy to take the car and go

3. in process of repo'ing.. you do not have the legal rights to defend yourself (after he identifies himself that he's a repo guy) and your property as the car is not your property.

4. the repo guy is aware of the fatal risks involving in repoing a car
Yeah, as long as they have official paperwork to show to cops. In other words, if they don't have paperwork, they can't tow a car.

I read that many tow trucks towed the cars unofficially. That's why cops stop them frequently while they are on the move to make sure that they don't do anything illegally. I have seen the cops stopping them on the streets and freeways.
 

diehardbiker

Active Member
Not in Texas, I think Joker and I saw the episode where owner actually shot and almost killed repo, no charge filed, ofc in end vehicle was towed BUT point is if he did kill them, there won't be any charges anyway.

Depending on which state, Joker is partly right, your just partly wrong, sorry Jiro.

actually you're wrong.

1. the repo guy has a legal rights to repo your vehicle. that is not "stealing". you are in fact stealing a car by refusing to pay for it.... therefore the bank can legally take the car back. it's their property, not yours.

2. the cop will tell the repo guy to take the car and go

3. in process of repo'ing.. you do not have the legal rights to defend yourself (after he identifies himself that he's a repo guy) and your property as the car is not your property.

4. the repo guy is aware of the fatal risks involving in repoing a car
 

Tousi

Well-Known Member
Diehardbiker, it just means that you and Crazy Paul aren't looking at the bigger picture, the message; you are here just for the sake of arguing......
 

sonocativo

Well-Known Member
The loaner's fault? wow... the loaner or car dealership or seller of the car does not always know this. When a person buys the car they could be in perfectly fine financial health then a year or two down the road fall on hard times or in the case of one I heard about...the ex screws over the owner and their car gets repo'ed without their knowledge (since the ex was supposed to keep up the payments...nope). They were able to get it back though since it was through a smaller local individual shop.


which one? There's two of them--and both are still running.

Operation Repo
pretty much scripted this one

Repo Men: Stealing for a Living- Betting this one is heavily fabricated too.

Technically the repo man is not trying to "steal" the car.. they work for the BANK that owns the lien on the car-- so since the person is not paying (or is behind) they have the right to take it. From a quick google though it looks like it is "theft" in some states so...:dunno:

Now if the repo guy tried to take the wrong car...then yeah I can see that as stealing and the owner waving a gun in his face. Quick read shows me that for the most part doing repo work is not as glamorous or dramatic as the shows make it.
Called a Loan Shark.... they will do anything to put money in their pockets and ruin yours. They are everywhere. Even with home mortgages, I had one but could afford it and paid it off fast, it works in your favor if you pay it off, if not then it will ruin you. so immagine me with a $300,000 house... I did it and people wondered how I could afford it... Loan sharks will get you loans reguardless even if others cant, but there are high risks. Have to play the cards right.
 

Foxrac

Well-Known Member
Premium Member
Not in Texas, I think Joker and I saw the episode where owner actually shot and almost killed repo, no charge filed, ofc in end vehicle was towed BUT point is if he did kill them, there won't be any charges anyway.

Depending on which state, Joker is partly right, your just partly wrong, sorry Jiro.
Repoman get help with police officer or sheriff.

http://www.click2houston.com/news/man-accused-in-triple-murder-at-north-houston-car-dealership-appears-in-court/33127508 (in Texas)

http://www.dreamindemon.com/2011/03/03/man-charged-with-murder-after-shooting-repo-man/ (in Florida)

http://www.carolinalive.com/news/story.aspx?id=1216157#.VYXC1flVhBc

http://www.thestate.com/news/local/crime/article14438087.html

http://www.nbcwashington.com/news/local/Repo-Man-Shot-to-Death-Trying-to-Repossess-Truck-262800491.html

Property owners are not immune from murder charge if they kill repoman in Texas.

Also, some reopmen are armed too.
 
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