Why the $150 Voluntary Repossession Should be a Thing of the Past

GUEST EDITORIAL

As we navigate through the Covid and post-Covid times I find myself evaluating all areas of my business. I have made huge changes in who I do business with, how I work those assignments and what a “good” client looks like. Recently I have been thinking a lot about voluntary repossessions and whether they make sense. During the height of the Covid shutdown time, when we were down almost 90%, we did a large number of voluntary repossessions since that was nearly all there was to do.

However, I decided to dig in a little more into why we do them so cheap and if they even produce a shred of profit. Following is what I found.

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Why the $150 Voluntary Repossession Should be a Thing of the Past – Repossession – Repossession History