Repo Man – or the Guy Who Gets the Car if You Default on a Logbook Loan

Repo Man – or the Guy Who Gets the Car if You Default on a Logbook Loan
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There were movies about these guys, some even a bit beyond proper taste, there were songs about these people and there are the real repo men, or rather persons, since that there are also female repossession experts daily snatching cars all over the UK. Have you ever had a car repossessed, or know someone who had? It is a ghastly experience, particularly if it happened unexpectedly and you just thought you forgot where you parked your vehicle. If they managed to get the car, then you might as well give up on it, if you are in considerably late with your payments.

Get the car, by any means necessary

It will come as no surprise for many that repo agents are most of the time former convicts that have been in the slammer for car related infractions, most of the time car theft and trafficking of stolen vehicles. This seems to be the best outlet where such people can put their borderline illegal talents to proper use and do legit business by “stealing” cars. Repossessing cars is a dangerous business, certain recklessness is mostly an advantage and former convicts generally do not panic when confronted by an unhappy owner. Normally, a car owner does not voluntarily divulge the car keys, so it is truly appreciated to know how to hot-wire a ride.

Some repo agents go even that far, where they do not check if personal items of owners are in the car, including what is in the trunk. In one regrettable instance, a repo man once repossessed a car that had a dead body in the back, which would provide a nice script for a movie or a book. Repossessed cars of logbook loan clients who defaulted generally are viewed as the asset and there are no legal grounds to keep personal property of the former owner that happened to be in the car at time of repossession. As you may imagine, some former owners were very inventive in reporting what was in the car when it got repossessed, most of the time the value far exceeded the money owed to the company.

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Repo man, a hero or a villain?

It is definitely a sad thing that repo agents are commonly perceived as “the bad guy” in such a scenario, despite the legit work such a person is doing. Nobody forced the former owner to sign the bill of sale or even to apply for such a loan, practically selling the car for the pittance of its worth, knowing that any aberration from the contractually agreed upon terms would result in the car being picked up. It does not help that the person signing up for such a loan probably neglected to read the small print, where it says that the cost of the car repossession will be billed to him or her, no matter if a repo man or a tow truck were employed.

In the end it is a good thing that people who have no particular other skill but to steal cars can have a legitimate and steady job, without falling into recidivism. Every person that manages to part ways with his or her criminal past and continues with a life that is lawful and prosperous should be considered a hero.

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