Lot of Repo's

[Drewhop]

So I am a title clerk for a small dealership. I was just going over some of our records looking at where we get all our cars from. In the past 3 months every car we have bought from auction has been repo'd recently. (This is roughly 50 cars nothing huge)

 

I wonder what the actual physical numbers for defaulted car loans are in the united states right now.

[Tshensley]

Hyundai or Kia is actually supposed to be doing a program that if you buy a brand new car from them and cannot continue to make the payments within the first year they will accept it back. I dont know the exact details but I read it in some articles about what manufacturers are doing about layoffs and the economy

[John Bruh]

the amounts are huge.

[ImUrOBGYN]

That was like a normal month when I worked for Bean in Texas. That guy would sell to anyone and repo the first time they defaulted. Lotta work for that guy but he paid well and I drove whatever I wanted off the lot for as long as I wanted.

[2.oh so slow]

so... any good deals on these here vehicles....

[Guest Removed]

Hyundai or Kia is actually supposed to be doing a program that if you buy a brand new car from them and cannot continue to make the payments within the first year they will accept it back. I dont know the exact details but I read it in some articles about what manufacturers are doing about layoffs and the economy

 

both, same company! the deal is once you leave with it the value drops, and ill bet you still owe the difference even after you turn it in.

[dragknee66]

Used buy here pay here lots... shady business.

[BloodRed]

My wife works for a local bank in there legal collections department. Normally about 1/3 of her accounts that she works are on car loans. She has been doing quite well over the past 6 months with repoing the cars. And while they are not getting very much for the vehicles once they sell, the volume has helped her hit her goal with out much work. Of course that Porsche she repoed a few months ago really helped.