Looking at repo'd boats and had a question

[1976 Slickcraft]

Re: Looking at repo'd boats and had a question

When a bank repos a boat, car, or anything else they now own it and are free to ask what they want for it. Even if the amount owed is very little the bank would be foolish not to get as much as they can for it.
Jesse

 

[sprouticus]

Re: Looking at repo'd boats and had a question

When a bank repos a boat, car, or anything else they now own it and are free to ask what they want for it. Even if the amount owed is very little the bank would be foolish not to get as much as they can for it.
Jesse

makes sense, because what do they do if they repo a boat thats not worth much because of the damage, but they are still owed thousands on it. I would think this would all eventually balance out for them.