Typhoon125 3rd Gear October 22, 2009 Share October 22, 2009 Was fixing my bike in the multi storey carpark and this Terios drove up and just side stop with harzard lights on in front of a few cars. For more then half a hour he was there, not moving. Irritating in the sense he can park properly as the carpark lanes was not very wide. Before I left, this tow truck drove up and immediately he moved is car. I have to say Tow truck guy was super pro and fast...in 5 minutes, the BMW was towed, then I realised Terios was the REPO man.....He actually block the BMW to stop it been driven off if owner realise what is about to happen. I have seen the owner before, believe he will stop it as there will be an admin fee, storage fee etc on top of the default payments if want to get it out. Now, here is the thing, the REPO man guard his find like a pot of GOLD....He must be paid damn well for it, do you know the market rates? ↡ Advertisement Link to post Share on other sites More sharing options...
RadX Moderator October 22, 2009 Share October 22, 2009 wa lau.....buy bmw and default payment....no shy Link to post Share on other sites More sharing options...
Damienic 5th Gear October 22, 2009 Share October 22, 2009 Heard the fees around $300 to tow one car..not bad at all for a day's taking.. Link to post Share on other sites More sharing options...
Prostcode Clutched October 22, 2009 Share October 22, 2009 haiz buy bmw but default payment is really dunno what to say liao. Link to post Share on other sites More sharing options...
RadX Moderator October 22, 2009 Share October 22, 2009 haiz buy bmw but default payment is really dunno what to say liao. IT is just the tip of the iceberg...am sure there are lots more out there....and personally, now good time to look Link to post Share on other sites More sharing options...
Zyrofillica 1st Gear October 22, 2009 Share October 22, 2009 The BMW driver must be one of those sunshine car awards guys. lol~ Link to post Share on other sites More sharing options...
Acemundo Supercharged October 22, 2009 Share October 22, 2009 haha you see the connection very fast Link to post Share on other sites More sharing options...
Curahee 1st Gear October 22, 2009 Share October 22, 2009 IT is just the tip of the iceberg...am sure there are lots more out there....and personally, now good time to look Spot on. My friend frequent auction house and see many brand new luxury repo cars, many ppl cannot afford to pay the loan. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged October 22, 2009 Share October 22, 2009 $250 - $500 depending on what type of truck they use. storage about $10 - $15 a day. thats all. Link to post Share on other sites More sharing options...
SonicYouth Clutched October 23, 2009 Share October 23, 2009 The BMW driver must be one of those sunshine car awards guys. lol~ [thumbsup] Link to post Share on other sites More sharing options...
Typhoon125 3rd Gear October 23, 2009 Author Share October 23, 2009 wa lau.....buy bmw and default payment....no shy Times are bad and I believe this Neighbour( same block ) got hit very badly......I myself barely survive...... Link to post Share on other sites More sharing options...
Typhoon125 3rd Gear October 23, 2009 Author Share October 23, 2009 $250 - $500 depending on what type of truck they use. storage about $10 - $15 a day. thats all. Wah......Rrpo man makes up to $500 per car....meaning easily hit 10k a month? Must go apply liow....... Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged October 23, 2009 Share October 23, 2009 Wah......Rrpo man makes up to $500 per car....meaning easily hit 10k a month? Must go apply liow....... not $500 lar...... these is what the boss charge but runner i gues maybe commission of about $50 or $80 Link to post Share on other sites More sharing options...
Ender Hypersonic October 23, 2009 Share October 23, 2009 The BMW driver must be one of those sunshine car awards guys. lol~ Repo man must be thanking James 大哥 on video for giving him so many business Link to post Share on other sites More sharing options...
D_bergkam 1st Gear October 23, 2009 Share October 23, 2009 Just got 43 repo cars put up for sale by GE Money! http://www.sgcarmart.com/used_cars/listing...=501&RPG=45 Got some nice cars, but no BMW. 2007 Audi A3 2007 Mazda 2 2007 Suzuki Swift Sport 2006 Mark X 2007/2008 Axio x 4 2007/2008 Stream x 4 These owners really pea-brained. We are becoming like the USA. A nation of debt! Link to post Share on other sites More sharing options...
Prostcode Clutched October 23, 2009 Share October 23, 2009 (edited) Very interested to know. So all these cars that are put up for auction (REPO) are cars that owners cannot pay the loan anymore? So the tow truck guy come in and tow the cars at night.. and put them for auction? So what happens to the owners? Kena sue? Court? Charge bankrupt? Or what? Maybe someone who kena repo b4 can share their experience. Thanks. Edited October 23, 2009 by Prostcode Link to post Share on other sites More sharing options...
RadX Moderator October 23, 2009 Share October 23, 2009 Very interested to know. So all these cars that are put up for auction (REPO) are cars that owners cannot pay the loan anymore? So the tow truck guy come in and tow the cars at night.. and put them for auction? So what happens to the owners? Kena sue? Court? Charge bankrupt? Or what? Maybe someone who kena repo b4 can share their experience. Thanks. Bank takes possession and tries to sue owner for default payments. They try to sell it at mkt value before sending for auction. I have a few frends who call me first and see if i wan to take (like is o rich lidat).....and if no go then auction. At Auction, they, the banks, definitely lose one lah Link to post Share on other sites More sharing options...
Yeshe Turbocharged October 23, 2009 Share October 23, 2009 wa lau.....buy bmw and default payment....no shy i can buy farlalee also... wanna come sit sit?? ↡ Advertisement Link to post Share on other sites More sharing options...
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