Okay. So doesn’t that equal a coming tidal wave of Repossessions? One would presume that much.
Repo-Men are not known for their compassion or willingness to negotiate.
or they are more efficient with the advent of license plate scanners or how lenders are repossessing at the 30 days late point.
This is not the repo system of 8 years ago.
What will happen is they will repossess those cars, which will flood the used car market—driving down the value (and thus the trade in value) of existing used cars and the affordability of new cars.
The sub prime car loan market is just a nasty place to do business.
“The life of a Repo Man is always intense.”