Private Party Repossessions
Private Party Repossessions are something most repo companies do not deal with. However, Nationwide can help if you are listed on the title of the vehicle.
What is a private party repo?
A private party repossession is usually where two friends or family members made a verbal or written agreement. The owner of the vehicle will usually then lend the car to their friend as long as they make good on their agreed payment arrangements.
When things with this type of agreement go sour, the person who lent the vehicle to their friend wants the car back in their possession.
What Are The Requirements To Repo
In order for Nationwide to help you with a private party repossession. You need to be listed on the title of the vehicle as to the owner. As long as you can show proof you own the car we can help.
How Do You Find The Vehicle
We usually start out by asking basic questions. When was the car last seen and where? How long ago was the car last seen? etc.
Sometimes, through these questions, cars are very easy to find and obtain.
Other times all the information needs to be given to a skip tracing agent. The agent will then track down the vehicle from all of the given information. This process can take a few days to a couple of weeks.
Our skip tracing agents are very fast and usually able to get information about a car within a few days.
What Are The Repo Fees
Please give us a call at 1 800 425 5075 and one of our customer service representatives will be glad to help you and offer a quotation.
Will You Keep Me Updated During The Process
Yes, one of our agents will be assigned to your case. They will regularly keep in touch with you and let you know the status of your case.
Also, if you have any questions, please feel to call us at anytime.
What Are Some Tips For Private Party Agreements
If you can at all obtain payment from the debtor, try and do so. You always want to get paid first and foremost. It should be your number 1 goal with this agreement.
If you have tried very hard to work out the agreement and there is just no way you can obtain any payments, then never threaten to send a repossession company over the phone.
Doing so will only make things harder on you and us. When you threaten someone with sending a company, people panic and the first thing they will do is try and hide the car.
If they are successful at hiding the car in a garage someone on one has access to then, it will be very hard to get the vehical back for sometime.
Your case then becomes a game of cat and mouse of our repossession drivers waiting for the car to be out in the open to repo. And this can take a decent amount of time to finish your case.