Quote:
Originally Posted by roastpuff
Repo is there to recover the cost of the rest of the loan - so generally it will be what is owed on the car.
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They sell for market value. Otherwise you'd see corvettes and mustangs for 50k under market regularly.
They aren't working under a non profit model.
Thats why banks love giving loans they know they aren't getting back, as long as the collateral is worth it.