3 ms·

I wonder ... who are they gonna send the repossessed cars to? I think old models of operation are breaking down.

• JohnFen 1y ago
  They're typically sold at auction to dealers and individuals. If there's a flood of them, that means that they'll cost less at auction and the prices in the used car market may start coming back down from the crazy heights they've been at.
• jagged-chisel 1y ago
  Doesn’t really matter. The borrower is still on the hook for the balance after sale.
  • scotty79 1y ago
    The borrower didn't have the money to pay. Being "on the hook" doesn't mean much if you simply don't have any money. It's a mini sub-prime in the making.
• Ekaros 1y ago
  Depends on who is operating higher up in value ladder probably ends up in auctions by lenders. But lower cases it is revolving system. Where the seller takes vehicle back and sells it again. Sometimes multiple times...