Glossary / General

repo

9 Episode Mentions

Too Afraid to Ask

'Repo' means the bank or lender took back a car because the owner didn't pay for it. These cars can often be bought for less money.

Technical Definition

'Repo' is short for repossession, which occurs when a lender takes back a vehicle due to the owner's failure to make loan payments. Repos are often sold at auctions or through dealerships at a lower price.

Hear It Discussed

"you're going to get quite a single crazy yeah you're crazy you're going to have a repo yeah that did so bad idea"
Car Pro Radio Show May 23 26 Hour 2 CarPro Radio Show 28:00

"...they maybe let it go into repo or maybe they just stop paying because they can't use it anyway. Well, unfortunately, life sucks..."
You Don’t Know What You’re Worth (Until You’re Wrong) | Jeremiah Hiatt The Jaded Mechanic Podcast 00:37

"so now every single touch that that employee is making is saving you 5000 dollars because [1330.3s] they prevented a repo that day or that week so yeah that employee that collector now needs to"
#433 - What If You Don't Train Them, And They Stay? The Independent Dealer Podcast 21:57