What do you mean by repo cars?
As a car owner if you couldn’t pay your loans or charter payments on time, then the bank or the financer has the whole right to repossess your car and reclaim it back. So then the bank, to recover its loan given to the car owner, puts the car on an auction. This is known as repo cars. However the car owner is given few chances to pay the defaulting lease payments or would asked to pay the “pay off” money so as to get the car back. And when the owner cannot pay the amount back or doesn’t want to, in that case the bank or the financer, takes away this car and may be sell it off to recover its charter balance.
