Stay One Step Ahead of the Repo Man

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,135
edited September 2014 in General

imageStay One Step Ahead of the Repo Man

How long before the repo man takes your car? Who is the repo man and how does he find your car? These and other questions about car repossessions are answered in this consumer advice story.

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  • mattballewmattballew Member Posts: 1
    I know a foil proof way to stay one step ahead of him.. PAY YOUR BILLS.
  • henryptnmhenryptnm Member Posts: 1
    The best way to avoid REPO's and creditors and if you can afford it, when you buy a vehicle, it is better to pay it in full. I did it when I bought a new truck. No creditors, No REPO, get the title within a couple of months and peace of mind. You wake up in the morning, your vehicle is still there. Only buy if you can afford.
  • msaffordmsafford Member Posts: 1
    if u disconnect the battery can they find your truck through on star?
  • mark_manmark_man Member Posts: 1
    edited January 2016
    I can tell you that an auto loan debt no different than any other debt and it is a civil matter. All civil matters can be negotiated with the bank and settled for less. However, you may be in a better position to settle if you are behind on payments, simply because the bank will be forced by the Federal Government to charge off all bad debt. Because of this law, the bank must sell all their bad consumer debt to third party debt buyers or debt collectors for as low as 7 cents on the dollar and also may even file an insurance claim for their losses.


    If you are not behind on payments, then it may be impossible to settle your debt with the bank for a lesser amount, but you still have the option of selling your car for cash subject to the existing lien(s).


    That's right! If the car is titled and registered to you, then you are the lawful owner of the vehicle and can legally sell your car for cash. The buyer would be then responsible for settling the existing loan with your bank in order to get free and clear title.


    Now, this may affect your credit, but if your behind on payments already, why would it matter. It actually may help you save your credit in the long run if your were facing a possible vehicle repossession. If a bank losses their interest in the vehicle by settling it, then the bank cannot report a repossession to your credit and they must update your file to paid for lesser amount owed, just like a "Short Sale" and charge-off the bad debt.


    If you are in a bad situation and behind on payments, you should do your research [non-permissible content removed].
  • PeterRepoPeterRepo NYCMember Posts: 1
    Im a former repo man. Calling the lender to make payment arrangements will do you little good. In most instances they will try to get enough information from you to ascertain the whereabouts and condition of the vehicle and promise not send the repo man. Regardless of what they promise you, they will send us. As soon as they get off of the phone with you they will send out the repo order. I cannot stress how many times I was in the process of repossessing a car when the owner informed me that they had just spoken to the lender that very day and received assurances from the lender that the car would not be repossessed. This just occurred too many times. The best thing to do is keep the car in a locked garage or behind a locked gate. Not a closed gate. We can open closed gates but cannot cut locks or damage locks. I can't stress enough that this should only be used as a temporary fix, until you can bring payments up to date. When I say temporary, I mean a week or two. If you cannot catch up within that time frame, just surrender the car because things will not get better from there.
  • NnaozarnnaNnaozarnna Member Posts: 1
    So even tho; I am up to date with my payments my car can get repo'd? At what time is spotting a crime? Those people are dangerous when they drive
  • MichaellMichaell ColoradoModerator Posts: 186,304

    So even tho; I am up to date with my payments my car can get repo'd? At what time is spotting a crime? Those people are dangerous when they drive

    If you are current with your payments, you shouldn't have to worry about a repo.

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  • amandassamandass USMember Posts: 1
    If you don't want to worry about a repo you should just pay all your bills... :-D
    Amanda.:-)
  • alexriderralexriderr Member Posts: 1
    I know a foil proof way to stay one step ahead of him.. PAY YOUR BILLS.
  • RyGuy44RyGuy44 ScottsdaleMember Posts: 1
    Alexriderr, you are obviously the smartest here. But do you know why I am here? I got laid off during this covid mess in April and the owner of my company strung us along month after month where when I should have been seeking out new employment I stayed hopeful for my 8 year, 6 figure position to be mine. I know the majority of folks got a sweet pay increase with the federal unemployment boost, I did not. My take home was 7-10k a month, going to 3500 was a huge hit, and mind you that ended in July. Employers are being snakes right now, offering bs pay because they know some people are desperate enough to take 50k when they were used to 100k. I was one of them last month when I took a new position. But luckily I was just offered better pay and a promotion last week. So yea, I’m trying to figure out how to keep the sharks at bay for a few more weeks so I can keep my car, which I need for my job, make Christmas happen for my family and try to lose my mind and more weight from starving myself to make sure my family didn’t have to suffer one bit. Cause I’m a man, and I’ll do whatever it takes to make sure my family wants for nothing, even if it means losing another 50lbs. So kindly, go pound sand.
  • tricksebuddytricksebuddy Member Posts: 1
    Thank yo so much for the informative stuff, i just not want to say that everybody else is saying about him.
  • skyisthelimitskyisthelimit Las Vegas, Nevada, USAMember Posts: 47
    Don't buy a car if you can't afford to pay for it.
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