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Old 02-17-2009, 10:03 AM   #1
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Default 4 wheeler got repoed - need help

Ok before anyone thinks I'm some sort of non bill paying bum, this is not about me, my 450r is safe in the garage. With that said, lets get started.

My friend bought a used honda trx 450r. He recently lost his job and wasn't able to make the payment for 2 months. Well he just made the payment last week but apparently it didn't go in fast enough because the repo man came yesterday and took his ****.

Now he hasn't gotten any paperwork yet, but he called the repo place and they told him he will have to pay off the entire balance on the quad before he gets it back, which is around 3,000 dollars still.

Does that even sound right? I remember when I was young my uncles bronco got repoed and he had that **** back like 2 days later.
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Old 02-17-2009, 10:06 AM   #2
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Default Re: 4 wheeler got repoed - need help

he came on private property and he got the unit? isn't that illegal in your state?
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Old 02-17-2009, 10:12 AM   #3
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Default Re: 4 wheeler got repoed - need help

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he came on private property and he got the unit? isn't that illegal in your state?
It really depends on the situation. I mean, they're not supposed to go into your garage, but under certain circumstances, I would say that the justice system may favor on the repo man's side.

But as far as paying off the entire balance to get the vehicle back, that's pretty much standard practice.
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Old 02-17-2009, 10:12 AM   #4
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Default Re: 4 wheeler got repoed - need help

It's up to the finance company. Usually once you catch up on your payment they will let you have it back (and charge you for the repo cost sometimes, as well as late fees). They can request you pay it off completely if they want. If they do not trust you, they do not want to end up paying for a repo again next month, and so on.
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Old 02-17-2009, 10:29 AM   #5
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Default Re: 4 wheeler got repoed - need help

Miss 3 payments and the repo man will help you get back on your feet.
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Old 02-17-2009, 10:32 AM   #6
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Default Re: 4 wheeler got repoed - need help

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he came on private property and he got the unit? isn't that illegal in your state?
How do you even know where I live, are you stalking me? LOL.

From what he told me, the repo man came up the driveway and talked to his brother first who said he was up in the top garage. The dude then entered the garage without my friend knowing and stood there until he saw him and said he was taking the quad. And he willingly gave it over.
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Old 02-17-2009, 10:59 AM   #7
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Default Re: 4 wheeler got repoed - need help

Sounds similar to what happened to my buddy and his car, he was supposedly only a few weeks behind and had already sent in his payment (yeah right) , they towed his car, did damage to both bumpers, broke the front one in half. Took all of his stuff out of the car including some parts he had in the trunk, when he confronted them about it, they told him straight up to "prove it" , anyway I know he had to pay everything he was behind on to bring his balance up to current, plus he had to pay some other fees, I'm assuming the towing/storage fees.

It was a big waste of time and money though because it wasn't three months later and he let it go back (no job) , If your buddy has no means to pay for it he should just let it go back and deal with it from there, anyways he should be talking to the finance company, not the repo man.
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Old 02-17-2009, 11:02 AM   #8
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Default Re: 4 wheeler got repoed - need help

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he should be talking to the finance company, not the repo man.

This.
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Old 02-17-2009, 11:09 AM   #9
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Default Re: 4 wheeler got repoed - need help

Yay youth of america, financing quads! Is it not common knowledge to buy anything under 5000 in cash?
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Old 02-17-2009, 11:13 AM   #10
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Default Re: 4 wheeler got repoed - need help

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Yay youth of america, financing quads! Is it not common knowledge to buy anything under 5000 in cash?
Most people dont have $5000 cash laying around, let alone the youth of America. I will say this though, I just paid $6000 cash for mine 2 weeks ago, and damn it felt good lol
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Old 02-17-2009, 11:26 AM   #11
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Default Re: 4 wheeler got repoed - need help

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Yay youth of america, financing quads! Is it not common knowledge to buy anything under 5000 in cash?
hammer. nail. head.
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Old 02-17-2009, 11:28 AM   #12
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Default Re: 4 wheeler got repoed - need help

Isn't that how repo works? You pay off the remaining balance to get your car back?
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Old 02-17-2009, 11:35 AM   #13
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Default Re: 4 wheeler got repoed - need help

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Isn't that how repo works? You pay off the remaining balance to get your car back?
Usually the company gives you a certain amount of time to pay it off in full.
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Old 02-17-2009, 11:38 AM   #14
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Default Re: 4 wheeler got repoed - need help

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Most people dont have $5000 cash laying around, let alone the youth of America. I will say this though, I just paid $6000 cash for mine 2 weeks ago, and damn it felt good lol
Well then they aught to learn to save money? There seriously needs to be some personal finance classes required in high school for clowns like this.
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Old 02-17-2009, 11:53 AM   #15
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Default Re: 4 wheeler got repoed - need help

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Isn't that how repo works? You pay off the remaining balance to get your car back?
It's not the repo company. The finance company still owns that vehicle. They pay the repo company money to get said vehicle. Then they turn around and charge you, the account holder of the loan fees for that repo + all past due charges + usually a month or two ahead.

At least that's how most finance companies work.
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Old 02-17-2009, 12:21 PM   #16
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Default Re: 4 wheeler got repoed - need help

If your friend lost his job, shouldn't his priorities be focused on something other than getting his 4-wheeler back? Like, maybe getting another job...?
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Old 02-17-2009, 12:25 PM   #17
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Default Re: 4 wheeler got repoed - need help

Yeah, wtf
Tell him to forget about the quad and get a damn job.
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Old 02-17-2009, 12:33 PM   #18
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Default Re: 4 wheeler got repoed - need help

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Originally Posted by Twixle View Post
Yay youth of america, financing quads! Is it not common knowledge to buy anything under 5000 in cash?
I financed mine brand new and have no problem paying it.

My friend just is in a bad situation right now with a few things. He motor blew up, girl left him, lost his job, his dad had a stroke and is now in a home, and now this. Life is not exactly easy for him right now.

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If your friend lost his job, shouldn't his priorities be focused on something other than getting his 4-wheeler back? Like, maybe getting another job...?
Trust me he is looking for a job. That's easy to say when YOU have one. He can't just forget about his previous agreements just because he lost his job. That is the dumbest thing I have ever heard.
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Old 02-17-2009, 01:02 PM   #19
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Default Re: 4 wheeler got repoed - need help

Honestly if your buddy had the thing locked up all the time they couldn't have teken it. Its illegal for them to break into a house and take something (even if your waaay behingd on payments). If you still have it, you still have some power to sell it, or let somebody else take over the payments. Don't let them take it.

Now your going to have to pay everybody to get back quad that is probably being subjected to burnouts and wheelies or not pay anybody and have your credit history fugged up. I'm not an advocate for goofballs who buy things they can't afford (maybe he could before he lost his job), but repo industry isn't any better. Good luck
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Old 02-17-2009, 01:08 PM   #20
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Default Re: 4 wheeler got repoed - need help

Maybe he should have sold the quad before it got repo'd.
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Old 02-17-2009, 01:11 PM   #21
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Default Re: 4 wheeler got repoed - need help

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Honestly if your buddy had the thing locked up all the time they couldn't have teken it. Its illegal for them to break into a house and take something (even if your waaay behingd on payments). If you still have it, you still have some power to sell it, or let somebody else take over the payments. Don't let them take it.

Now your going to have to pay everybody to get back quad that is probably being subjected to burnouts and wheelies or not pay anybody and have your credit history fugged up. I'm not an advocate for goofballs who buy things they can't afford (maybe he could before he lost his job), but repo industry isn't any better. Good luck
Trust me I keep my quad at his house and they are very well locked up. My friend just happened to be in the garage working on his car at the time the repo dude showed up.

About the only smart thing my friend did was check his hour meter before the guy took it. Its also got a broken starter clutch so it has to be pop started and I have pictures of it from about a week ago if they **** anything up on it.
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Old 02-17-2009, 03:13 PM   #22
 
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Default Re: 4 wheeler got repoed - need help

as long as he made the payment before they took it the finance company has to return it no charge to him its there fault they didn't let the repo man know. i did repo for a couple years and we had to take a car back one time because of this they even had us delver it back to the lady it was funny too because she had a joint in the ashtray my boss got rid of it and the lady called the bank and told the bank we smoked her weed and she wanted paid back for it lol
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Old 02-17-2009, 04:42 PM   #23
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Default Re: 4 wheeler got repoed - need help

let it go, not worth it.....but most likely on something that small loan wise he will have to pay in full to get it back.......

when I bought my scooter 3 years ago, i financed it on a yamaha 0% for 2 years deal. took the purchase amount divided it by 20 and sent it in every month

2810/20 = $140.5 = paid off in 20 months intrest free.
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Old 02-17-2009, 07:11 PM   #24
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Default Re: 4 wheeler got repoed - need help

I would call the repo place, try to talk to the main person in charge and let them know, you plan on getting it back. Most of the time when they repo a car or bike they will strip it or steal parts off of it. They don't care if they drop or damage it. Call the finance company and work something out, see how you can get it back, most of the time you can. g/l


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Yay youth of america, financing quads! Is it not common knowledge to buy anything under 5000 in cash?

If I can get a really low interest rate or no interest, hell ya I rather finance than pay cash.
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