One of America's most volatile institutions is the car Repo market. It’s so theatrical that hundreds of shows on TV networks are ripping a fortune showcasing the free drama that takes place 'live' in the streets. As it turns out, not so many people are okay with their cars getting towed, regardless of the number of payments they’ve missed.
In their defense, only a handful of people live without debt in the 21st century. If you’re not paying your college tuition arrears, you’re probably paying a mortgage or servicing a car loan. Simply put, credit is a corner away from anyone who qualifies.
If you are servicing a car loan and miss a couple of payments, the car is in danger of getting repossessed, or repo’d. To understand this matter's seriousness, last year, about 2.2 million personal cars were repossessed in the United States. We are talking about 6,027 vehicles in 24 hours.
A viral video posted by Raphousetv on Twitter shows a dramatic stunt pulled by a Dodge Challenger owner during a repossession incident. The footage was captured by a tow truck's rear-facing camera.
Like a scene straight out of a Fast & Furious set, a man (owner) jumps into the driver’s seat of the Dodge Challenger being towed by a repo truck.
As the tow truck pulls into an intersection, the Dodge Challenger driver goes full hardy on the gas pedal and breaks free from the moving tow truck, almost hitting another car.
Photo: Twitter/@raphousetv2
You’re probably wondering why someone would pull such a James Bond stunt that could get them in trouble with the authorities while also risking their own lives.
If your car gets repossessed due to missing a couple of payments, it’s the beginning of a complicated and expensive affair. For starters, it leaves a negative mark on your credit history, which means you’ll have a rough time qualifying for future loans with potential lenders – you don’t want that.
As a result, most people would rather play a cat-and-mouse game with the repo company until they are caught up with their loans.
The Challenger owner might be wrong to risk his life and other motorists pulling the stunt, but the truck driver could also arguably face charges (kidnapping) for towing a car with an occupant inside.
There were varied opinions in the video's comments section, with most people feeling both the Challenger owner and the tow truck driver were wrong.
"I worked in the collection and repo field for over 17years. most towing agents won't drive off with someone in the other car because it can be considered Kidnapping. Probably didn't notice the guy get in the car," a commenter said.
Humphrey is a car enthusiast whose love and passion for automobiles extended into collecting, writing, driving, and working on cars. He got his passion for cars from his Dad, who spent thousands of hours working on his old junky 1970 E20 Toyota Corolla. Years later, he would end up doing the same with a series of lemons he’s owned throughout his adult life. Full profile
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