To help you understand what exactly is auto reposition, we will start this article with a small briefing. Automobile repositioning is when a lender reclaims a vehicle after a period of time, in case of non-payment from a debtor. To help you understand let’s say you take a car on a 3 years installment plan. If you are not paying off the installment as agreed upon but are using the car excessively, the car will be subjected to repositioning.
A repo happens quickly and without much notice. Understanding how repo works are very important. Many people are using auto loans to buy their new cars. This involves a lender with whom they have an installment plan to pay off the car payment slowly. The lender can also be a dealership agency. In many states, you will be surprised how strictly repo works, as in a lot of cases, cars can be seized right back after having missed even one installment payment. Now you are probably wondering how the repo man even find the location of your car in order to seize it back. Can moving to a new state be an option? The answer is often very clearly answered with a plain no. Then how do they track the exact location? If you are wondering if the repo uses GPS, you have hit the right mark.
How does Repo Man Find a Car?
It should be common knowledge that when an agency is allowing you to purchase a vehicle, they will have worked out every trick in the book to make sure that you will not run away from paying the full installment. To set their mark, they even seize back vehicles that miss just one installment payment. You can not hide your car from the repo man as it’s common knowledge they will find the vehicle no matter what.
Car Repossession Lookup:
Home Search- The car repossession takes place by following a number of routes. The search usually begins from your home. Your address is taken by the dealership at the time of the installment agreement. If you have your vehicle parked outside your home or driveway, this can lead to the easiest repossession. The repo man can come on the spot and claim the vehicle.
Neighborhood Search– In cases where your vehicle is not spotted near your home, a survey of your neighborhood will be done. In order to trick the repo agent, people often think parking the vehicle a few blocks away from home can do the trick of fooling them. But, as we mentioned earlier, the repo man has all the tricks in the books figured out. Many vehicles get reclaimed through neighborhood surveys throughout the year.
Parking lots Search- A repo agent will search nearby parking lots in your area. They go from searching the local parking lots to supermarket parking lots. People have trying to fool repo agents for years, and this is one of the tricks that most people tend to believe will work. However, due to years of experience, repo agents are well aware of these tricks and can swipe the car right from under your feet.
GPS Tracking Used by Dealerships
Used car vehicles use a real-time GPS tracker in cars that allow them to instantly locate the vehicle wherever it is for reclaim. This allows the agency to avoid any risks of their vehicles being swiped from the scene without full payments. If a person fails to meet their agreed payment plans on time, the GPS tracker can come in use to the company. The party may try to hide the vehicle from being reclaimed or move to a different state and so on. By having GPS installed on the vehicle, the dealership takes the risk of having the car swiped off like that. In cases where the dealership has trouble finding the car, they can instantly locate it using this GPS. Once they have located the vehicle’s exact, they wait for the right time and moment to send in their repo man to reclaim the vehicle.
Should You Remove GPS Tracker from A Financed Car?
If you have ever wondered if you should remove the GPS tracker from your financed car in order to avoid the repo man, we strongly suggest you not do so as the act can be counted as an illegal action. Let us help you understand why.
A vehicle that is under an installment plan from a dealership is categorized as a security measure. In case you remove the GPS tracker, you could be committing an illegal act as you will be hindering with something that the creditor has installed for security purposes. Legally, you are not allowed to remove the GPS tracker in order to avoid the repossession process.
Conclusion
Vehicle repossession is the process of reclaiming a vehicle when the borrower fails to miss on the agreed payment plan. The repo man will take measures to reclaim the vehicle in such a case. Dealership agency in order to make the repossession process easier install live GPS on financed cars. This way, they can track the exact location of the vehicle for reclaim in case the borrower tries to flee with the car
