Millions of auto repossessions happen every year in United States

Full story: WIVB Buffalo

No one wants to come face-to-face with the car repo man. But with prices up for just about everything, more and more repo agents are knocking on doors, and the outcome's not always pretty.
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1 - 20 of 28 Comments Last updated Jul 18, 2008
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R-J-H

United States

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#2
Jul 4, 2008
 
now that this topic has been started....Channel 4.....why not post or can someone post what the LAW is regarding repo's. also, what is is the law regarding lending institutions.
Just Wondering

Niagara Falls, NY

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#3
Jul 4, 2008
 
With all the reforms going on in the mortgage area why is in not being looked into in the automobile area. I think that lending institutions should be looked into for outrageous interest rates that are being put on loans. In hard economic times I believe that the auto loan interest rates should be lowered too. I myself find it hard to pay for everything with increasing gas prices. It is like a vicious circle that just keeps continuing. Is there going to be any help for the low to moderate income families that are being hit harder then those who are wealthy? I am doing everything in my power to keep up with all my bills but with the prices continuing to rise something has got to give. Auto loan institutions should look at how much their interest rates are and maybe lower them at this economic time. Quit worrying about how much money you can get from a family and start worrying about finding a way to let families keep their vehicles.
fed up

Lockport, NY

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#4
Jul 4, 2008
 
i am one of the people who gave up and turned my car over to the bank never was late on a payment but knew it was gonna happen starting the next month i owed 16000 to the bank they sold at auction for 5500 you would think they would of given me the option of paying that for my car and of course they still want the 10,000 gave me whole 7 days to come up with the money lol stand in line boys..... you can;t give what you don't have
dave

Buffalo, NY

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#5
Jul 4, 2008
 
bottom line is don't get over your head! why should ppl that pay their bills on time support those who do not?
mike

United States

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#6
Jul 4, 2008
 
Of course theyre giving up look at the frigan economy the only ones that are getting screwed are the middle class americans. The poor(lazy) trash get everything handed to them, and obviously the rich have nothing to worry about. This country is going down the toilet and its too late to do anything about it.
Nakeeya

Buffalo, NY

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#7
Jul 4, 2008
 
It's a sad situation when the repo man comes to take a vehicle. When most people are trying very hard to support their families and need a vehicle to do so. It goes to show how bible prophecy is being fulfilled. I encourage everyone to read 2 Timothy 3:1-5 and at this point all we have is to trust in God.
funny guy

Rockland, ME

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#9
Jul 4, 2008
 
Since gas is so expensive I bought a small car & told the bank come & take my FORD explorer Its got new tires on it & its a good car but DRINKS gas so they are welcome to have it the bank replied no way we cant afford the gas for it LOL so reposestion is out of the question I asked them what would they do if I didnt pay ??? they said keep the damn gas pig lol they consider it a bad loan
Dan

Batavia, NY

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#10
Jul 4, 2008
 
Repossession is painful, however, in my case necessary. I was one of those Americans who thought he could effort everything, but I found my self berried in debt. The best thing for me was to loose everything. It has taught me to appreciate the simpler things in life. It also has showed me that I am not entitled to everything just because I am an American. Now, I save my money and I am very happy that I am not a slave to a mortgage and auto loans. The most important lesson is the ones my kids learn by seeing their father and mother struggle. They can see first hand how hard it has been and maybe they will not make the same mistakes! Break the Cycle!
fed up

Lockport, NY

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#11
Jul 5, 2008
 
Bring The Truth wrote:
If you can't afford it, DON'T SIGN FOR IT!!!
don;t be such a smart azz things happen in life you have no control over i;m sure you won;t be so smug when the knock comes at your door

“youbeateverythin g youknowthat ”

Since: Apr 07

Buffalo, NY

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#13
Jul 5, 2008
 
Does the repo man ever pimp his ride?
dave

Buffalo, NY

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#14
Jul 5, 2008
 
Bring The Truth wrote:
If you can't afford it, DON'T SIGN FOR IT!!!
very well stated....why should the people that pay their bills and do not get over the top have to pick-up the tab for those who do not. Why should they have lower rates of interest....no way!
Economist

Lancaster, NY

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#18
Jul 5, 2008
 
fed up wrote:
<quoted text>don;t be such a smart azz things happen in life you have no control over i;m sure you won;t be so smug when the knock comes at your door
Sure--things happan-- but if you save up and pay for what you want you will not have to --sign for anything-- or make excuses about ---things happening--- to poor old dead beat me.

“Communism. It's everywhere!”

Since: May 08

Lockport, NY

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#19
Jul 5, 2008
 
Dan wrote:
Repossession is painful, however, in my case necessary. I was one of those Americans who thought he could effort everything, but I found my self berried in debt. The best thing for me was to loose everything. It has taught me to appreciate the simpler things in life. It also has showed me that I am not entitled to everything just because I am an American. Now, I save my money and I am very happy that I am not a slave to a mortgage and auto loans. The most important lesson is the ones my kids learn by seeing their father and mother struggle. They can see first hand how hard it has been and maybe they will not make the same mistakes! Break the Cycle!
Dan...despite what that gasbag says....you're not a loser. Losers never learn. Apparently you learned from the things you did wrong. It's easy to sit back and be judgmental while you're on easy street. But the people who are sitting back calling you a loser will have their day. Five years ago I was riding high....now business is not as good as I'd like....five years from now I'll riding high again. Money ebbs and flows in a natural cycle. Being prudent in good times gives you the ability to sail through the bad times....good luck guy
funny guy

Rockland, ME

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#20
Jul 5, 2008
 
There is a person in here that calls others losers Id be willing to bet that he is in debt & having one heck of a time meeting his bills as he works at burgerking & gets his meals out of chili s dumpster now there is a LOSER
funny guy

Rockland, ME

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#21
Jul 5, 2008
 
HAVE a good day every one its off to a B B Q m m m m
aww man

Buffalo, NY

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#22
Jul 5, 2008
 
Easy to say buy what you can afford. When my 2 year old was born gas was 2.30 a gallon. Now it is 4.25. Do the same for groceries and see how fast 200 bucks a month goes bye bye. So it works out at about 20 bucks extra a week just for gas. At 80 bucks extra for 4 weeks of gas (ten gallons). Not to mention milk and standard foods price increases. I think in a couple more years many critics are going to be in the same boat. When their pensions start getting cut or pushed back to an older age to collect. People are going to learn some hard lessons soon.
fed up

Lockport, NY

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#24
Jul 5, 2008
 
Billy Bob wrote:
<quoted text>
What do you expect? Take out a car loan while working at McDonalds, serves you right, LOSER!!!!!
who you calling a loser you piece of crap!!!!!!! go play with your billy bob
Nasty Guy

United States

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#26
Jul 6, 2008
 
Soon the gas in the tank will be worth more than my car...The re-po will just empty the tank.
Big Jim

United States

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#27
Jul 6, 2008
 
aww man wrote:
Easy to say buy what you can afford. When my 2 year old was born gas was 2.30 a gallon. Now it is 4.25. Do the same for groceries and see how fast 200 bucks a month goes bye bye. So it works out at about 20 bucks extra a week just for gas. At 80 bucks extra for 4 weeks of gas (ten gallons). Not to mention milk and standard foods price increases.
More liberal whining! Let me guess, its Bushs fault? Worker harder and stop blaming Bush for everything. I bet you want the government to pamper you and your family the rest of your lives at the cost of us taxpayers! It aint gonna happen!
Laquila57

United States

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#28
Jul 15, 2008
 
I quess I am one of those loosers,2003 was in accident head-on,Paralyzed for 2 years and out of work, the person who hit me was working day and night to support family, with two boys in Iraq. Because of trickery and treachery of our insurance companies ( no-fault) I have been late on many payments. ( no more than a month) I am willing to give up my car used for medical 3xs weekly

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