Hood Economics 101: Repo Man Now Grabbing Cars While Folks Are Shopping, Due To Scanner Technology

The repo man (or woman) is starting to rely less on calling and harassing your aunties and grandma, and instead relying more on technology to help them locate and snatch your car if you fall behind on your payments.

Much like many police departments across the nation, repo agencies are now using computer technology that allows them to scan a tag without ever entering a tag number into their on-board laptops. They don’t even have to pull up behind you.

The scanners are attached to a repo vehicle and are capable of reading hundreds of tags per minute and are now widely deployed by cops, who can now instantly determine if the car’s owner is wanted or if the vehicle has n insurance, and by repo agents, who can instantly tell if a lienholder has placed the car for repossession.

And thanks to databases that banks and finance companies are subscribed to which maintain information on defaulted car loans, a repo agent can simply ride through any shopping center parking lot and find a car whose owner has been MIA on payments–and take the car right then and there.

These days, its not uncommon to notice repo trucks and less conspicuous repo agent vehicles with scanners attached to their hoods and or trucks posted up in or patrolling busy shopping centers or other areas where lots of people–and cars–are congregated.

And what many consumers don’t know is they aren’t protected if their car is repo’D at the mall; most states allow repossession agents to seize a car with a repo order out on it virtually anywhere, so long as the repo agent doesn’t “breach the peace”. That means, so long as you don’t come out and confront the repo man and a ruckus subsequently ensues, they can grab your whip anytime, anywhere.

And repossessions can take less than 45 seconds, according to some repossession industry experts, so a quick run inside the grocery store could end with you needing an Uber when you come out, if you haven’t been able to keep up your payments. Just so you know.

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