Information from the Lender:
* Vehicle Information: The lender provides the repo company with detailed information about the car, including make, model, year, color, VIN (Vehicle Identification Number), and license plate number.
* Address Information: The repo company will have the borrower's current address on file. This is often the address where the car is registered.
* GPS Tracking Devices: Some lenders install GPS tracking devices in the vehicle. This gives them a real-time location of the car, making it very easy to locate.
Publicly Available Information:
* DMV Records: The repo company can access DMV records to find out where the car is registered and the address of the owner.
* Parking Violations: Parking tickets can be a good source of information, revealing the location of the car.
* Social Media: Social media posts, especially those with pictures, can provide clues to the vehicle's location.
Private Investigators:
* Repo companies often work with private investigators who have experience in locating vehicles. They may use more advanced methods such as surveillance, background checks, and even "skip tracing" to track down the car.
Network of Informants:
* Repo companies have networks of informants who tip them off about vehicles in their area. These informants may be tow truck drivers, parking lot attendants, or even neighbors.
Legal Means:
* Repo companies can obtain a court order allowing them to locate the car if they have a valid reason to believe it is being hidden.
Important Notes:
* Repo companies are required to follow state and local laws when repossessing vehicles. These laws vary from state to state, but generally require the repo company to have a valid court order, to attempt to contact the borrower before repossessing the vehicle, and to avoid repossessing the car from certain locations (like a church or school).
* It is illegal for repo companies to use force or violence to repossess a vehicle. If you believe a repo company is acting illegally, you should contact the authorities.
If you are facing repossession, it's important to contact your lender immediately and try to work out a solution. You may be able to avoid repossession by making a payment arrangement or by refinancing your loan.
