In the auto repossession business, what is the average price per vehicle that a bank will pay for pick-up?

Cost for a flat rate repossession range from $100 to $300 for a bank repossession. There are also contingent repossession companies such as www.Speedy-Repo.com that charge a percentage of vehicle value as their contingent rate. Theey perform private party repossessions and non-traditional repossessions, as well as bank repossessions.

I was doing a little research on line and found the following information. Hope this helps.

*"REPO FEES

Repo fees seem to vary greatly within the United States and vary greatly from one type of market to another. The standard rate for a repo from a bank or loan company is about $200.00. The standard fee for a used car agency is about $100.00. The repo agency usually has a break down in the charges which might look something like this:

REPOSSESSION FEE: $150.00
DRIVER FEE: $45.00
CONDITION REPORT & PHOTO: $15.00
SKIP TRACE: 4 hours @ 25.00 per hour $100.00
INSURANCE: $15.00

But the basic repo fee is 150 dollars plus another 45 dollars for a driver fee. When a repo man picks up a car, he usually has to have someone drive him to the location. That is what this fee is for. He will also be required to produce an inventory and condition report. Some agencies also take a snapshot of the car which is included in the inventory and condition report. A great deal of repo cases require the repo man to first locate the subject although this is not always the case. Usually when you locate the subject, you have also located his car. The above total bill comes to $325.00 and repo specialists report they can do several of these assignments per day."

*http://www.pimall.com/nais/n.repo.html

We took a poll over at www.procra.com (a repo community with over 450 repo agents) and what we came up with was 325.00. Some client (banks) pay us repo agents more and some pay less. While a large car manf. or bank might pay 395.00, a small finance company might only pay 250.00. I would say an ave. of 325.00 to the repo man. What no one realizes is that the repo company pays so much in insurance, bond, truck maintenance, fuel, office expenses and then salaries too that we keep very little of that 325.00 per repo. The repo insurance alone runs from 10K to 100K a year depending on the size of your company and how many trucks you have.

I hope that helps,
RC