A Career Opportunity or Not? (Page 1/1)
blackrams APR 28, 08:07 AM
Harley-Davidson Says Repo Shortage Is Fueling Credit Losses

https://www.msn.com/en-us/m...703be18409c1a8&ei=19

(Bloomberg) -- There are not enough people to repossess all the motorcycles.

That was the message from Harley-Davidson Inc., which said Thursday its credit losses in the first quarter were due in part to a shortage of repossession agents.

The repossession industry is seeing an uptick in demand as more Americans struggle to afford their car payments. And companies that specialize in seizing vehicles are having trouble hiring enough agents, after many decamped for other jobs during the pandemic when business largely dried up due to stimulus measures.

For Milwaukee-based Harley, the repo shortage combined with a decline in retail bike values. That contributed to realized credit losses of about $52.6 million in the first quarter for the company’s financial arm, vice president and treasurer David Viney said on a conference call Thursday.


So, apparently there's opportunity and money to be made if you willing to go into the "Repossession" business. BTW, one might want to consider having some backup protection.........

Rams
MidEngineManiac APR 28, 09:31 AM
I've done a lot of stupid sheet in my life...

But nothing THAT stupid !!!!!
maryjane APR 28, 10:01 AM
Evidently, bank repos of 4 wheel vehicles is slow too. I've contacted several banks about buying a repo'd pickup and they all say they are way behind, have none but hope that changes. I'd sure hate to go into someone's yard and try forcefully to take their vehicle tho.

[This message has been edited by maryjane (edited 04-28-2023).]

blackrams APR 28, 10:03 AM

quote
Originally posted by maryjane:

Evidently, bank repos of 4 wheel vehicles is slow too. I've contacted several banks about buying a repo'd pickup and they all say they are way behind, have none but hope that changes.



Well, this is potentially an opportunity for you to select from their list of repossessions and get paid to go get the one you want. Maybe, maybe not.

Rams
ray b APR 28, 11:23 AM

quote
Originally posted by maryjane:

Evidently, bank repos of 4 wheel vehicles is slow too. I've contacted several banks about buying a repo'd pickup and they all say they are way behind, have none but hope that changes. I'd sure hate to go into someone's yard and try forcefully to take their vehicle tho.




stealth not force

they sneak in and out
in un-marked trucks late at night

WONDER HOW MANY RIDES GO SOUTH IN TO MEX
and how hard it is to get anything back over the border ?
RWDPLZ APR 28, 02:39 PM
As Uncle Jesse put it, "You couldn't find anything lower to do?"

Repo's are WAY up right now, the lots are full, and banks are only trickling out cars in an effort not to tank the used car market. It's only a matter of time before one of the banks gets greedy and tries to be the first to clear their lots, OR Carvana finally goes bust, flooding the market with inventory.
IMSA GT APR 28, 07:33 PM
"Excuse me, white guy in the middle. I'm here to repo your bike."

Yeah, that should be easy:

[This message has been edited by IMSA GT (edited 04-28-2023).]

Fats APR 30, 05:48 AM

quote
Originally posted by RWDPLZ:

As Uncle Jesse put it, "You couldn't find anything lower to do?"

Repo's are WAY up right now, the lots are full, and banks are only trickling out cars in an effort not to tank the used car market. It's only a matter of time before one of the banks gets greedy and tries to be the first to clear their lots, OR Carvana finally goes bust, flooding the market with inventory.



I think most used car lots are seriously sweating the Carvana mess. From what I understand it's just a bomb waiting to go off.

Meanwhile, people like me are sweating waiting for it as well. Come on cheap used cars again!
cvxjet APR 30, 01:40 PM
Ever noticed.....?

[This message has been edited by cvxjet (edited 04-30-2023).]

williegoat APR 30, 02:23 PM
About 10-15 years ago, my boss said, "Come outside, I want to show you something."

He opened the doors on a 53' trailer that was filled, stem to stern, with repoed Harleys bound for a wholesaler in California. He had a friend who owned a dealership and he helped him out all the time.