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How Repo Money is Made — Quora Jan 10, 2024 — Repo money is money earned by a repo company (also called a car lender or car buyer's agent), and is a kind of profit that can be taken back to the lender if the repossession of the car is not completed. After the loan is repaid the car is sold again, this time the person getting the car has a mortgage on it. Repossession agents, in other words, make their living by making sure the car owner has a “good enough” car. How Does the Repo Man Stay on Top of the Repossession Process — NerdWallet Nov 21, 2024 — Your car is likely to be repossessed after several defaults on your new loan. If you owe a car loan and are still behind on payments, and the car is not repossessed, you are a prime target for repo men. How the Repo Man Makes Money — Quora Jan 12, 2024 — If a repo repossesses your car, and you are still out on your loan balance, you are likely still in trouble. Repossessions do happen, and the repo man is paid a small fee for taking your car. The Repo Man and a Car — Quora Apr 23, 2024 — The repossession team may try to get what they can, but there's one catch. Every time you give the repossession man permission to look inside your car, he gets an additional commission for selling your car on. How Does the Repo Man Keep Track of Your Car While You're Away? — NerdWallet Nov 19, 2024 — If a repo man wants to keep track of things while you are away, he takes notes. He might even start a notebook or make a spreadsheet. If you need to do something or have to travel, you can just leave your car in the repossession company's possession, and they will know exactly where to find it. The Repo Man's “Notes” About Your Car — Consumer Reporting Agency of Canada Dec 11, 2024 — The repo company will keep track of everything. It's not just the car, but also your insurance, license plates, phone service or anything you buy. How to Use Repos — Credit.
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