"How Do Repo Companies Find Cars"
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When loan payments are missed, banks and other lenders typically turn to repossession companies to help them find the cars that belong to delinquent borrowers. The question is, how do repo companies find cars?
Repo companies typically have a variety of methods for finding cars. For starters, they may use databases that contain information about vehicle registrations from the Department of Motor Vehicles (DMV). This allows repo agents to search by license plate number or VIN number. They may also work with debt collectors or even private investigators who can help track down people who owe money on their car loans.
In addition to using DMV records and other investigative techniques, repo agents may also rely on tips from informants or use GPS tracking devices on the vehicles they are searching for.
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