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Various objects can be repossessed, including boats and aircraft, but most repossession agencies focus on car repossession. The repo agent normally uses a tow truck or pickup truck with a special towing attachment called a boom. They also may obtain the key from the car owner. Usually, the vehicle owner must be notified of a repossession.
They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25] Specialty finance companies cater to the used car dealer industry.
A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of short-term borrowing, mainly in government securities.The dealer sells the underlying security to investors and, by agreement between the two parties, buys them back shortly afterwards, usually the following day, at a slightly higher price.
The building has been formerly known as the RepublicBank Center, the NCNB Center, the NationsBank Center, and the Bank of America Center. The building was completed in October 1983 and designed by award-winning architect Johnson/Burgee Architects , and is reminiscent of the Dutch Gothic architecture of canal houses in The Netherlands. [ 3 ]
Tell that to repo man Leo Song, who backed over 42-year-old Lisa Via and killed her, while trying to repossess her 2002 Buick, parked in the driveway of her Chino Hills, California mobile home at ...
Repo 105 is Lehman Brothers' name for an accounting maneuver that it used where a short-term repurchase agreement is classified as a sale. The cash obtained through this "sale" is then used to pay down debt, allowing the company to appear to reduce its leverage by temporarily paying down liabilities—just long enough to reflect on the company's published balance sheet.