How to Start a Repo Business

Ever wanted to steal a car and not get in trouble? Do you find excitement sneaking around just hoping you don’t get caught? A repo business may be in your future. :-)

A repo person is hired by financial institutions to basically steal cars back from people who are not making their payments. The bank wants the vehicle back so they can sell them at auction and most people are not going to just bring them back to the bank.

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Every state varies on the type of license or even if you need a license to become a repo person. Most states have laws against violence in repossession, so most of your stealing will happen at night or when the person is safely away from the vehicle. This is because people are not happy when you try to take their vehicle from them, even if they are no longer paying for it.

Pay also varies from state to state but generally is around $200 per repo, and you can do several every day. You may need to locate a person and a “skip trace” needs to be done. The internet provides most of what you need to know on how to do this and there are also cheap courses for the detailed information. Now all you need is a tow truck and a certified driver’s license to drive it and you’re good to go for your first repo. Just remember people will tell you any sob story to keep their car, just do the job and let the bank deal with them.

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