A common question in the repo industry is, “How much money do repo men make?”
If someone told you that you could make over $100,000 a year in a bad economy without a college degree, you’d think they were crazy. But some auto repo business owners are not only doing well – they’re making six-figures a year. When the economy does bad, they do better!
How Much Do Repo Men Make?
If you start your own auto repossession business, you can expect to earn $250 (or more) per repo’ed car. If you repossess two cars a night, five days a week, that’s $130,000 a year. It certainly requires hard work and determination, but it’s possible.
Repossession agents make the most money when lenders hire them to track down hard-to-find debtors – which is called “skip-tracing.” If a debtor voluntarily gives up their car (or if they’re easy to track-down,) an … Read More