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Car Repos Are Exploding. That’s a Bad Omen.
Barron's ^
| July 8, 2022 6:00 pm ET
| By Lisa Beilfuss
Posted on 07/14/2022 10:44:15 AM PDT by Red Badger
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To: Red Badger
Fortunately, my used car (a 2016 Scion iM) is now full paid off and I recently got the title to the car. I could sell it right now for close to US$19,000.
21
posted on
07/14/2022 11:15:54 AM PDT
by
RayChuang88
(FairTax: America's Economic Cure)
To: Yo-Yo
I guess the moral of the story is only buy what you can afford....
22
posted on
07/14/2022 11:19:09 AM PDT
by
Psalm 73
("You'll never hear surf music again" - J. Hendrix)
To: Red Badger
Which is most, repo cars or stolen cars?
23
posted on
07/14/2022 11:20:35 AM PDT
by
mountainlion
(Live well for those that did not make it back.)
To: ncfool
most leased cars and trucks now have a HIDDEN GPS system in them so that the lender can find and REPO the vehicle. And likely they have the key fob codes as well so they can simply unlock them and drive them away. Don't even need a tow truck.
When we go to self-driving cars, they will just drive themselves back to the leasing company.
24
posted on
07/14/2022 11:21:06 AM PDT
by
SamAdams76
(3,515,464 users on Truth Social)
To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; BraveMan; cardinal4; ...
25
posted on
07/14/2022 11:22:23 AM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: Red Badger
Mine has a chart, so there Well, there's certainly no denying that.
A very charty chart indeed.
26
posted on
07/14/2022 11:26:27 AM PDT
by
humblegunner
(Ain't drownin', Just wavin'...)
To: TexasGator
You have it backwards. I suggest you to read the article. I tried reading the full article, but I have to be a Barron's subscriber to see all of it.
Perhaps you have some insight?
My point being, and I don't think you can dispute this part, is that with used car prices exploding, the value of a used car is higher than normal and a finance company doesn't stand to lose any money by repossessing a vehicle and selling it on the wholesale market.
In past recessions, the value of used vehicles plummeted which meant that a repossession would more likely lose money for the finance company.
27
posted on
07/14/2022 11:27:17 AM PDT
by
Yo-Yo
(Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
To: mountainlion
Stolen cars usually get parted out...................
28
posted on
07/14/2022 11:27:44 AM PDT
by
Red Badger
(Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
To: Red Badger
29
posted on
07/14/2022 11:31:02 AM PDT
by
Impala64ssa
(If a liar's pants really did catch on fire CBC, ABC, CNN and MSNBC would be more fun to watch)
To: Red Badger
I didn’t sign in to read the article, but the average price of used cars could be higher because new cars are being repossessed lowering the average age of the used car market. I was always leery about buying a repossessed car because I wasn’t sure how well it had been maintained on oil changes.
30
posted on
07/14/2022 11:31:07 AM PDT
by
alternatives?
(The only reason to have an army is to defend your borders.)
To: Red Badger
And I forgot. Harry Dean Stanton too
31
posted on
07/14/2022 11:40:04 AM PDT
by
Track9
(You are far too inquisitive not to be seduced…)
To: ncfool
“most leased cars and trucks now have a HIDDEN GPS system in them so that the lender can find and REPO the vehicle”
That should be used by the police to locate stolen cars.
To: Red Badger
Lucky Lopez is a car dealer who has been in the business for about 20 years.I can just see his TV ad: "Feeling Lucky? Tell ya what I'm gonna do!"
33
posted on
07/14/2022 11:42:57 AM PDT
by
Migraine
( )
To: Migraine
"Got no job? We don't care. Got a bad credit rating? We don't care. Got a prison record? We don't care. Don't expect to pay us? THAT'S when we care!"
34
posted on
07/14/2022 11:45:09 AM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: Red Badger
They prevented landlords from evicting tenants. They plan to reimburse college tuition. They fired people for not being vaxxed. I wouldn’t be surprised if the next big thing they do to interfere with the free market is declare a “moratorium” on car repossessions.
To: Red Badger
I see so many Rovers and Porsces and BMW suvs and Audis now. These people have bought waaay over their heads. Eff em. And the dealers too. Dealers are crooks. Every one. Eff em.
36
posted on
07/14/2022 11:57:27 AM PDT
by
Seruzawa
("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
To: Red Badger
We are waiting for the earth-shattering kaboom to buy a truck.
37
posted on
07/14/2022 11:59:10 AM PDT
by
AppyPappy
(Biden told Al Roker "America is back". Unfortunately, he meant back to the 1970's)
To: dfwgator
38
posted on
07/14/2022 12:00:34 PM PDT
by
Migraine
( )
To: Impala64ssa
Repo man’s always intense.
To: AppyPappy
You may be waiting a while.........
40
posted on
07/14/2022 12:05:59 PM PDT
by
Red Badger
(Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
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