Well, it all depends on the agency and the going rates of your state.
Unless a "repo man" owns his own company he is only making about $70-$100 per car depending on the value. If he DOES own his own company then he may be making as much as $300 - $500 per car. Sound like a lot? Don't count on it. Those who are involved in vehicle recovery usually put in long days (and even longer nights and weekends) just trying to find the car that some loser is hiding because he "can't pay his car payment". Once found the recovery agent often has to deal with being, cussed out, yelled at or physically threatened simply because the buyer wasn't man or woman enough to take on the responsibility of paying for their car. And of course the recovery agent or "repo man" is blamed for taking the car that this person doesn't legally own in the first place. In the end the moral of the story is... if you can't afford it, don't buy it.
A REPO MAN DOES NOT GET ENOUGH MONEY FROM THE REPO'S , HE WORKS 24/7 AND LIVES OUT OF A truck.HE FIGHTS AND ARGUES WITH DEBTORS,CLIENTS AND HIS OWN PEOPLE, NO GLAMOR HERE BOY'S AND GIRLS.GET A REAL JOB WITH REAL MONEY AND 9-5 HOURS . STAY OUT OF THE FIELD YOU MIGHT GET HURT OUT HERE.!!!!!!!!
just for the people who think we enjoy doing this, a local repo (50miles)will pay the truck 150.00 to 200.00 if you want to be competitive.the driver (if not the owner) will clear 30 to 40 percent.the only saveing grace is to pull several cars in a night,that is not always possible.
I'll second that and as a driver I don't make money driving around from address to address looking for a car i only make money on the units that are in the yard the next day when the owners pull in..Then after being up all night i get to make a condition report on the units..After a few (3-4) hours sleep its back to the office to jump on the computer with accounts in hand and search for new info on the debtors..All of this to bring back a car that someone didnt make a payment for..Im a repo man I don't have a salary and ive never had a car repoed!!!!I make my payments even if my stomach is growling...It ain't an easy life ..but it satisfies me its my niche!!
A friend spoke with a repossessor in Chicago and he said he makes $500 per car if they don't have the key and $75 for the car if they give him the key. Anyone in Chicago who can verify?
500 if he does not have keys ?
I don't think so, not a chance.
I am in Chicago and the price you have been given is BS too many companys too much competition for anyone to be getting paid that much. Oh and BTW 75.00 on a car with keys WAY TOO LOW hell I get more than that if the debtor calls the bank and tells them to come get it.
In answer to the original question the amount of money varies from company to company also depends on who's truck your driving and whos paying for the fuel. Lot of variables, Actually too many to take into account basically if you have your own truck and are anygood and are paying for your own fuel you should be making 140.00 to 180.00 a car, this of course is you working for a repo company not for yourself.
I'm a repo man in California and we have always got 100 dollars per car, some companys who don't have skiptracers will pay more if you find an address and get the car (important....get the car) at an address the bank does not have. Bigger companies have there own guys to make keys for the cars after you repo em and remove and inventory the personal property but not all. Ive worked for the last three days for example and haven't repossessed anything...I'm out over 120 dollars for gas.
I own my own repo company in Va and all of my clients pay a diffrent price that was negotiated when I put my bid in for their cars. I get anywhere from 75 to 250 per unit. I don't use a truck I have keys made for each car I go after, that lets me keep my costs down which is good for everyone involved. As for labeling people deadbeats, I try not to judge anyone because you don't know what is going on in someone elses life. I have found that if I treat everyone with respect things go much smoother all the way around. If you have any questions feel free to drop me a line,I am happy to help keep everyone safe, after all its just a car......
I repo for my boss. If I make $100.00, he makes $100.00 If I get sued, he gets sued. Bosses have to be selective on hiring. There are other problems out there. The people @ lien holders act like the repo man sometimes is the enemy. They treat and talk to any repo man that does not perform his duties like he is the problem. Stand up for the correct standards of repoing and the Reps. will not want to use you and you will have more time for better reps to send you more work. I know some repo men give use all bad names, but there are some very good honesty people in this line of work. There are alot of Reps. (lien holders) that by phone threathen customers to a point that the customer wants to cuss the first repo man they see. The repo man does not own the loan company. The people that I repo their vehicles don't always like me, but they know I explained it all correctly to them and gave them a chance to resolve & keep their vehicle. In my four years I have help quite a few people keep their vehicle and I got paid only half my fee for the collection only.
I own a repo company in AZ, my fees vary from client to client, where the vehicle is, what has to be done to find it etc. etc. etc.
Repo Man grossed $2,300,000 worldwide.
Repo Man grossed $2,300,000 in the domestic market.
they will repo it
when repo man repossess the car and was in an accident before you can get it back, what happens
Probably not. He'd probably ask you to get out of the car.
If its not your car why do you care???
That's theft. You need to file a report with your local police.
A "repo man" can take your car no matter what. If your purse is in the car, they can take it. You will probably be called with the information on how to get your personal effects.
the repo man will get angry because he can't find your car, and they will probably call you and send you mail repeatedly because you owe them money or the car. they might decide to get the law involved, but i don't think they are allowed to do that.
Chances are the cops at the gate will escort the repo man to your car and let them take it.
Maybe the repo man was after something other than your car. Or, maybe the person was there to serve you with some papers.
An officer can be called to keep the peace. Otherwise, a repo is a civil issue.
IF the loan is in DEFAULT that has the car as collateral AND the LENDER issues a repo order, YES, the repo man can take the car from a 3rd party in possession.
The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.
A long time if you hide it well!
Yes, a repo man can take your car in any circumstances. He just needs to find a means to enter the property.
Yes, a repo man is not a police officer. He does not have to abide by police guide lines.
It depends, usually the repo man will come to the dealerships and tell them a price they'll repo a car for. The company I work for charges roughly $150 a car, but if we have to go unusually for to get the car the price goes up accordingly. Like if we have to fly out of state to get a car the dealership pays for the plane ticket plus a few hundred.
He will report it as a stolen vehicle.
It gets reported stolen.