Repo Fails: The Wild World of Car Repossession

🚗Repo guys often have to deal with car owners attempting daring escapes when their vehicles are being repossessed.

💰Repossessions have doubled since 2021 due to inflation and the supply chain crisis, leading to more people falling behind on their car payments.

🔒One way to prevent your car from being repossessed legally is by locking your gates, making it more difficult for repo agents to access your vehicle.

🔧Repo drivers employ various tactics and tools, such as gojacks and safety chains, to secure and tow vehicles efficiently and safely during repossession.

😱Repo drivers sometimes take repoed cars for a joyride, leaving owners to discover evidence of their unauthorized use.

What happens when a car is repossessed?

—When a car is repossessed, it means the creditor or lender has taken it back due to the owner's failure to make loan or lease payments. The car is then typically sold to recover the outstanding debt.

Who is responsible when a repossession goes wrong?

—In most cases, the car owner is responsible for any damages or losses that occur during a repossession. However, repo agents must also follow specific procedures and regulations to ensure a legal and safe repossession.

Are repo drivers allowed to drive the repossessed cars?

—Repo drivers are not legally allowed to use the repossessed cars for personal use. However, there have been instances where repo drivers have taken unauthorized joyrides, which is both unethical and potentially illegal.

Can I prevent my car from being repossessed?

—While there is no foolproof way to prevent car repossession if you cannot make your payments, you can take some measures to delay or avoid it. These include negotiating with your creditor, exploring loan modification options, or seeking legal assistance.

Can I retrieve my car after it has been repossessed?

—Once your car has been repossessed, you may have the opportunity to retrieve it by paying the outstanding balance, including any fees associated with the repossession. However, it's essential to act quickly, as the process and availability may vary depending on your specific circumstances and local laws.

00:00Repo guys face the thrilling and dangerous task of repossessing cars.

01:26Repossessions have doubled since 2021 due to inflation and supply chain crisis.

03:15Locking your gates can help prevent car repossession legally.

04:58Repo drivers use tools and tactics like gojacks and safety chains to secure and tow vehicles efficiently and safely.

08:01Repo drivers sometimes take repoed cars for joyrides, leaving owners to discover evidence of unauthorized use.