Look Out, Here Comes the Repo Man

Look Out, Here Comes the Repo Man
Written by Dana Howard, Anchor/Reporter

Repo Companies Recover Everything From Toys to Mazaratti's, Dana Howard's Report, 5/20/08

SACRAMENTO, CA - Another sign of the times may be the booming business for repossession companies. Those in the Sacramento reported double-digit increases in repo orders compared to this time last year.

Repo workers are stunned to find they're taking everything from toy boats, RV's, motorcycles to extreme luxury cars like Bentleys, Rolls Royces and Maseratis.

"You give up what's least important, and that's the boats the RV's and the car," said John, who didn't want to give his last name. He owns a vehicle recovery company in the Sacramento area. His lot is full these days of Range Rovers, Mercedes. There's even a renovated vintage bus.

John said toys are also increasingly too expensive for people to keep. "From 2002 everybody decided, 'Well I'm making a bunch of money now so I think I can afford this.' They just get over extended. They can't handle it anymore."

http://www.news10.net/display_story.aspx?storyid=42229

So the toys get repo'd. What's gonna happen to all those vehicles and boats? The seller gets them back, but can't re-sell them? Nobody's buying.

Our economy is so screwn. We have no idea.