A REPO AGENT BUSINESS STARTUP
BOTH U.S. & CANADIAN RESIDENTS
INCLUDES REPO AGENT STARTUP INFORMATION
A Step-By-Step Guide
On How To Become A Repo Agent
substantial amounts of money a month as a repossession recovery agent regardless
of where you reside
WHAT DOES A REPO AGENT DO
AND IS IT SAFE?
A repo man or
repossession agent is one of the most unpopular people
in society today. However, he or she serves an essential
function of insuring the protection of property. When
someone cannot pay for a debt that they took on, debt
collectors step in and try to recover the money owed.
When debt collectors cannot acquire the amount due from
the debtor, they may call upon the services of a repo
company to 'collect' on this debt, by taking back the
car, boat, or other property that debt is owed upon.
Contrary to popular belief, no company or creditor wants
to have to collect bad debts, as it is very costly to do
so. A creditor would far rather work out a deal than
have to search and seize property from a debtor.
lender finds itself in the situation of needing to
repossess property while the borrower attempts to avoid
paying the debt, the creditor may contract the work of
repossession out to a repo company. Repo companies'
employees are known as repossession agents, or repo men.
Though most often, a repo man is employed by a repo
company, many repossession agents work as independent
contractors to lending institutions, credit-card
companies, or other repo companies.
is any person who engages in business or accepts
employment to locate or recover personal property
registered under the Vehicle Code or other personal
property sold under a security agreement
Is it a
safe industry to be in. The overall answer is yet.
Most debtors know it's just a matter of time that their
vehicle will be repossessed, however there are a small
handful that may yell or get angry. If they do,
then just walk away and do it a later time. Never
force a repo. Remember, repo's don't have to be
nasty, they have to made in a "PEACEFUL MANNER" by law.
Just choose the right time & location and you're o.k.
eBook will provide you with tips & repo techniques that
will help you run a smooth extremely lucrative
OVERVIEW OF OUR WEB SITE
At My Repo Job, you will find everything you need to
start earning a substantial income repossessing vehicles. With
just a bit of insider knowledge, observation and training, you can
begin earning money as a repo agent. Getting started is not that
difficult, and doesn't take start-up capital at all.
At our web site, we will show you what a repo agent
does, and how you can obtain clients that will pay you to locate &
repossess cars for fees ranging from $200-$350 where you are the one
who tows the vehicle or someone you outsource the assignment to. Once
vehicles are located, the process only takes anywhere from 15-30
minutes and you earn hundreds of dollars.
With the proper licensure, training & experience,
you could be earning up to $2k a day in repo's just by yourself, not
to mention if you were to hire a staff & acquire a fleet of tow
Banks, Car Loan Companies, Used Car Lots, New Car
Dealerships, Car Rental Agencies & Private Citizens are feverishly
looking for people to find debtors and confiscate their vehicles.
Never before has there been a better time to get
into the Multi-Billion dollar repo business!!! We and our
associates have over five decades of experience in the repo business
and we want to share our wealth of insider knowledge with you, so
you can begin making boatloads of cash on a daily basis.
Our guide takes you
step-by-step to become a reputable repo agent in your city;
You will find a plethora of resources &
industry educational information including Repo Agent Schools,
Employment Sites, Investigative Techniques, Duties of a Repo Agent,
Repo Agent Laws, Profit Potential Turning Repo's Into Cash,
Networking within your Industry, Sharing Information, A List of Repo
Companies, Marketing Methods, Licensure, The Repossession Process,
and every other tool you need to become successful.
The repo industry is hidden, which is why you don't
see many individuals & agencies offering their services. Their
goal is to keep the industry small and tight-nit, only sharing leads
and giving advice to one another. We decided to expose this
industry so any one that is willing to get out there and make
several hundred to several thousand a day will have the tools,
contacts & resources to do so.
Every year, the principals take 2-3 months off and
head to the Caribbean in our yacht, relax, fish & party and then
spend time in Europe!!! We love the lifestyle and wouldn't trade it
for the world.
Jake, Frank & Joey, the owners of the web site can't
describe the thrill they get when repossessing cars. Joe says
"there's no other job that offers this much adrenaline pumping
excitement and thrills. I find it fun & adventurous and
the ultimate job for those that are daring".
How Profits Are
Made Through Assignments
Making money as a repo agent is fairly
straightforward. First, you need to check with your local
courts & government agencies to see what the requirements are to get
licensed in your area. Then get some experience. We
suggest contacting a repo company near where you live and ask to
become an assistant, even if you don't make that much.
What this will do is give you the basic knowledge,
training & experience to start repossessing vehicles for yourself.
As far as finding clients to repossess vehicles for,
you don't need to look too far. All you have to do is contact
Banks, Car Loan Companies, Used Car Lots, New Car Dealerships, Car
Rental Agencies & even Private Citizens. Tell them who you are
and what you do. They will usually asked if you are licensed, and
once you say yes, they may very well give you an assignment to try
Once you successfully repossess the vehicle, you
will prove yourself to them, and they will typically give you more
assignments on a regular basis. If you get just a few clients,
expect to be earning several hundred dollars a day, depending on how
much they pay.
You may find that many companies that you contact
already use a repo agent, if not multiple. Don't worry.
Most companies give assignments to repo agents on a rotating system,
so all repo agents get work. Many of the banks & car
dealerships must give assignments to multiple agents to retain them
as they do not like to rely on just one person or company when it
gets really busy.
They like to make sure that when a car needs to be
repossessed, that THERE WILL BE someone who can handle it in a
timely manner, sometimes within 24 hours. Multiple repo agent
relationships must be maintained.
Repo fees seem to vary greatly within the United States from one type of market to another. The standard rate for a repo from a bank or loan company is about $200 to $400. The standard
fee for a used car agency is about $100.00 to $150.00. The repo
agency usually has a break down in the charges which might look
something like this:
REPOSSESSION FEE: $150-$400
DRIVER FEE: $45.00 -$75
CONDITION REPORT & PHOTO: $15.00 - $30.00
SKIP TRACE: 4 hours @ 25.00 per hour $100.00
INSURANCE: $15.00 - $30.00
Become A Repo Agent?
1.) The High Rate of Pay,
2.) The uninhibited
power, and 3.)
self-employment, and 4.)
Personal Satisfaction of Helping Lenders
One of the most important things that agents must
follow is the law. If they don't, they could find themselves
in hot water legally & financially. It is imperative that that
the repo agent know the law & their limitations when recovering a
vehicle in the vicinity where they operate. For example, they simply cannot break into a garage
and take a car. They must wait for an opportune moment when
the owner is either working, sleeping or engaged in some other
activity away from the vehicle in a public setting.
By law in the U.S. & Canada, automobiles & other
types of vehicles must be repossessed in a "PEACEFUL MANNER".
Remember, possession is nine-tenths of the law. Learning how
to take advantage of repo opportunities is key to success in this
Once a car has been repossessed, a repo agent must
do the following:
A) REPORT REPOSSESSION TO POLICE
This is done for the safety of the repossessor and at times required
by law depending on where you live. You will want to notify
the police that the vehicle has been repossessed. Often, when
the debtor finds out that their vehicle is gone, they will call the
police and report it stolen, so if you get stopped, the police
officer will believe it is stolen. Again to prevent this,
simply notify the police of the repo.
B) COMPLETE INVENTORY AND CONDITION
An inventory and condition report must be made on the vehicle as
soon after the repossession as possible. Often times, taking a
picture of the vehicle before leaving the location.
At the time of the repossession, the repossession agency obtains
from the client a written authorization to repossess and what is
called a hold harmless agreement. You will need to obtain this
authorization to prevent any litigation or claims resulting in the
repossession of the vehicle.
Remember, if you do become a repo agent, just follow
the rules and you'll be o.k.. Just report the auto
repossession to the police & obtain a written authorization
"complete inventory & condition" or hold harmless agreement from the
client and you'll be o.k.
Within our information & resource rich guide, you
will find everything you earn a very healthy income repossessing
Who Can Become A
In general, any one, from any country
can become a repo agent, whether it be in the U.S., Canada, Europe,
Australia, New Zealand or any other country.
Our guide primarily concentrates on
how to become a repo agent both in the U.S. & Canada, however, the
system can be applied to any country in the world where repossession
of vehicles by private parties are allowed.
A Repo Agent
Business Startup Formula That Can Be
Applied In Any
Country In The World Where
Vehicles Is Allowed
By Private Parties!
The Thrill Of
Within our guide, you will essential learn how to
become a private investigator. By using skip tracing
techniques, and others known as backward skip tracing, and in just a
short period of time, you will be able to easily track down and
identify vehicles with liens against them.
Our featured guide takes you step-by-step to, from
licensure, to marketing, to networking, to employing investigative
techniques so that you can begin repossessing vehicles for big
Beside the challenge and excitement attempting to
track down vehicles, the true adventure comes when it's time to
secure & tow the vehicle away while the debtor is not looking.
We don't know how to describe it, all the we can tell you is that
you have to experience it.
The preparing & execution of the repo can be an
intense experience, not knowing that owner is going come out or not
and situations that can arise. All that we can say to anybody
is "JUST TRY IT".... You'll love it!