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Repo Costs
For them or you
 
 
 
Welcome to Got Repo'd ...

Cost of owning a Tow service, after looking at the costs it now makes sense why they are crooks!! Jacking you up for tow fees and storage.

These are rough estimate and costs can vary from these numbers most likely higher. and based on Repossession of one vehicle.
Cost per hour
Cost per truck
 
Owning Truck
$12
$33
  
Repossession Agent
$20
$50
  
Fuel Cost

$8
$25
  
Truck liability Insurance
$4
$20
  
General (repo) liability Insurance
$4
$20
  
General Repair
$2
$5
  
 
$50.00
$153.00
 $203.00
Office Expenses
$8
$20
Office Staff
$12
$24
Storage
$3
$10
$23.00
$54.00
 $77.00
Total per Repo
$280.00
     
 
Since a Repossession company typically works on a contingency basis, they will often "steal from Peter to pay Paul" meaning that they don't get every car they go after, and from the costs above they still have to pay for the cost of looking for them, so when they find a car to tow, that poor consumer will be paying extra for the ones they weren't able to find.

REPO FEES Repo fees vary widely within the United States and vary even more from one type of market to another. These are estimated amounts you should expect to pay.

Seems that there is NO STANDARD RATE for a repo, make sure to ask the repo agency for a break down of the charges which will probably look like this:

  • Repossession fee: $250.00
  • Tow to Storage / Driver fee: $75.00
  • Condition report/Photo or bagging of your stuff : $25.00

They sometimes are required to produce an inventory and condition report. Some agencies also take a snapshot of the car which is included in the inventory and condition report.

Drumming up business - Often times they will look for out of state or country plates to perform a "backwards trace". once they spot some they will record the location of the car and the tag number. With the tag number he obtains a vehicle registration from state motor vehicle and does a title trace. What this tells him is, if the vehicle has a lien on it. If it does, it will give the name of the lending company. The lending company is then contacted to see if the vehicle is missing and needs to be repossessed.
This site is for general information ONLY and should not be used as a legal resource!!

 

 

 
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