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    4 Replies Latest reply on Mar 25, 2009 6:43 PM by cap10curt

    what are lenders looking for?

    cap10curt Newbie
      I am currently breaking off from the pack and trying to start my own repossision company,I believe that I can do it better and I just plain out want to be my own boss. This is a business I know about and I am also currently a student studing for my bachelores degree in business. However, I'm not so familiar with the business agreements and negotiation's that are agreed upon by lenders and asset recovery services after cosultation for auto repo services. I know the standard fee's that a repo business would advertise but I am not sure what prices are agreed upon between party's considering the vast amount of different types of lenders-such as banks, loan offices, used car lots...etc...

      Please, a question to all loan officers : as a loan officer; have you noticed a increase in the amount of repossesion companies that are advertising them selves for services? Have you noticed an increase for the need of a repo company? What do you look for when considering a repossession service after a car loan has been defaulted or a security agreement has been breeched? What makes a repo business rememerable after a service has been provided? And what is expected of the repossession company before and after a reposession has been pursued?

      Thank you for reading and I look forward to your feedback.

      Curtis V. Saver Jr