Glossary / General

repossession

14 Episode Mentions

Too Afraid to Ask

Repossession happens when a bank or lender takes back a car because the owner hasn't been making their payments. After repossession, the car is usually sold again to someone else.

Technical Definition

Repossession is the process by which a lender takes back a vehicle from a borrower who has failed to make the required payments. This often occurs when the borrower is delinquent on their loan, leading to the vehicle being sold again in the used car market.

Hear It Discussed

"Department of Justice that improperly repossessed 28 service members' vehicles. Uh-oh."
Mega Meet Car Talk! In Wheel Time Podcast: Your Go-To Automotive Talk Show 07:38

"Well, you're going to take those people out of the market because they'll never ever be able to buy another car after this one blows up and they get another repossession."
Used Car Prices SKYROCKET to RECORD HIGHS | Episode 1073 CarEdge Live 23:41

"In fact, buy here, pay here dealers are still 16 times more likely to have a loan in active repossession than traditional dealers, and 10% of buy here, pay here loans were delinquent in Q3 2025."
Hurst on Career Growth, Crowell on Transparent Ads, Dobbs on Compliance | Daily Dealer Live Car Dealership Guy Podcast 06:54