i just recently started a repossession business in Missouri and it is tough. i am 21 years old and trying to get people to see past the stereotype is hard enough but here is what i have found. i already owned a tow company and have seven trucks two of which are pick-ups with sneeker lifts. i just got insurance to meet state requirements and alittle extra to beat the competition. keep the overhead low use older looking equipment and keep it in tiptop shape mechanically and if it doesnt look good consider driving something that looks respectable to meetings and contacts with clients. you have to face the facts have you seen very many repo companys that look professional. most of the ones in my area are dirtbags with no insurance or standard auto insurance on a pick up with a folding swing set in the bed,14 warrants and no front teeth doing reposessions for $100. set prices at a fair price (not high just average) sell your business with superior service and excellent turnaround times not at a streetcorner price good luck. start with a few title loan companies they are excellent for learning and good volume.
how do you get a repo licence in North Carolina
YES, a lender can get a judgment for the balance owing on a loan after repo.
No. Not in North Carolina, not in any other state.
Any business is hard work to open so a repo business would be hard to open as well.
do I need to be bonded in nystate for repo cars
alot but not to to much
he cannot break & enter to get the car.
Two years work experience under a licensed repo agency within the state of California is required before starting repo business. An exam is to be taken to be a "Qualified Manager" which is required to ?æbe stationed in all branches. A CA business license is required before operation.
Yes. A repossession agent can secure the vehicle anywhere he finds it with some limitations, provided he has a valid order for repossession.
You can repo your own car but you cant start a business without a license.
To start a repo business in PA, you must be licensed and bonded by the state. The license fee is approximately $250 and the required bond it $5000. See the "Motor Vehicle Sales Finance Act" Act of 2002, no 186 for complete details.
wanting to start a repo service in Illinois and need to know what all is needed?