Car repossessions are the most common, after all just about anyone with any credit can go to a new or used car dealership and drive away with a car. Amazingly around 6 years ago a statistic with one of our clients called Affiliated Financial was quoting that only a figure of around 6% sub-prime cars go out for repossession at all. I thought that number was extremely low and surely with the worsening economy that number must be growing since. Regardless of the percentage they claimed, the amount of repossessions they contracted out was at least 100 cars per month in Florida alone.
So just imagine between all of the finance companies, banks and in house car dealerships, car repossessions equate to allot of jobs each month nationwide.
I remember when first starting out as a repoman, I was hungry, I was depleting my savings from the multi-million dollar business I had previously that the economy at the time wrecked. It was ok as that glory lasted more then a few years and things change. it was time for me to enter a new realm, to learn a new skill set. I was lucky enough to be sponsored by two companies at the same time. [Read more…] about Car Repossessions