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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.

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โˆ™ 2011-09-12 22:09:43
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Q: How do you start a repo business in North Carolina?
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Related questions

To start a repo company do have to have license in North Carolina?

how do you get a repo licence in North Carolina


In North Carolina can they sue or put a lien on your business for the remaining balance of a car repo?

YES, a lender can get a judgment for the balance owing on a loan after repo.


Can a repo man cut locks to access buildings for property in North Carolina?

No. Not in North Carolina, not in any other state.


Is it hard to start your own repo business?

Any business is hard work to open so a repo business would be hard to open as well.


How do you start a car repo business in new york?

do I need to be bonded in nystate for repo cars


How much money is needed to start a small repo business?

alot but not to to much


How late can your payment be before repo in North Carolina?

In North Carolina, a lender can repossess a car when just 1 payment is missing. They can also repossess it if you let the insurance lapse and are current on your monthly payments.


What is needed to start a vehicle repo business?

Yoy will need a business license, insurance, a tow truck, a SECURE storage lot, customers- and a knowledge of repo laws in your state. Can of pepper spray is optional.


Can a repo man take your car out of a closed garage in fayetteville North Carolina?

he cannot break & enter to get the car.


What is needed to start a vehicle repo business in California?

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.


In North Carolina can a repo man repo your car from a repair shop with a bill that is still owed?

Yes. A repossession agent can secure the vehicle anywhere he finds it with some limitations, provided he has a valid order for repossession.


What type of bond do you need in Pennsylvania to start a repo business?

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.


Do you need a license to repossess cars in Alabama?

You can repo your own car but you cant start a business without a license.


What do you need to start a repo service in Illinois?

wanting to start a repo service in Illinois and need to know what all is needed?


What are the Repo business requirements in Florida?

What are the requirements to become a repossesion business in Florida?


What type of bisness license do you need to start a repo bisness in Utah?

What type og certifacation or licence must you have to start a repo company


What is needed to start a vehicle repo business in Illinois where would I obtain the insurance for the business?

Some useful links to Illinois' small business information: http://business.illinois.gov/ http://www.ilsmallbizadvisor.biz/ilsttemp/ http://www.illinoisbiz.biz/dceo/


When will the new season start of operation repo?

there done with it


Are consumers sent a right to cure before reposession according to South Carolina law?

No. But after repo they are.


Can they issue a warrant for a repo car in South Carolina?

They can issue a warrant for a repo if they have gone to court and determined that you are trying to steal the car. They would have to file theft charges against you first.


What do you need to start a repo company in New Jersey as far as licensing and such?

You have to pay for that information. The repo biz is a private and sercet biz.


What is the yearly salary for a repo man?

Repossession agents are not typically paid a salary, nor are they typically paid hourly. Repossession is a per unit business. That is, the repo man is paid by the vehicles he recovers. Amounts vary by the individual business.


What are the North Carolina vehicle repossession laws?

When a debtor is behind on payments, NC law allows the lender to take possession of, or "repossess" the vehicle. A repo company on behalf of the lender can take the vehicle at anytime, anywhere that the vehicle is found and accessible. If the vehicle is in a locked fence or garage then the repo company cannot force entry to get to the vehicle.


Can a repossesser come on to your gated property to take a vehicle in North Carolina?

Legally probably not,that assumes you do not own the propery or the property(like a private road) to get to your property so that would be trespass.But someone has to call the police to enforce the trespass violation.After the repo guy has the car there is not much you can do except to sue the lender or repo guy. Gated,YES.Gated and locked no.


Can a repo company call your job and tell your manager your business?

no! look into a law suit!