Car and Truck Repair Skyrocketing Costs

[Oaktree]

Most used vehicle dealers withhold a key fob. They do it in case the vehicle needs to be repossessed.

Maybe if it was some sleazy buy here pay here lot, but this was a reputable used truck dealership. Besides, I paid cash.
I suspect the PO only traded it with one key.

 

[5030]

Used to work in the repo business and you don't need a key fob to repo a vehicle at all. All that is required is a repo order from the financial institution and a tow rig with a wheel dolly on it. When you do a repo, the institution don't care how you do it, in fact, I've dragged vehicles out of spots with the trans in park and then picked them up by the front or rear wheels (depending on if they are front wheel drive or rear wheel because you loft the end that is in park (wheels cannot rotate) to tow it on the wheel dolly.

I had a few with upset owners as well so if there any issues arose, I just called the local LE and had them come and assist. I just showed them the repo order and they handled the irate owner.

Had a repo one time with the vehicle in a locked garage, called LE and with them present, I forceably removed the garage door and then removed the vehicle.

Lending institutions don't care if the repo vehicle sustains any damage or not as they 99% of the time wholesale the vehicle and then go back on the borrower with a lien for the difference between the wholesale price and what is owed on the note.

How the game is played and always has been and a key fob has nothing to do with it.

I was employed by a contractor that was authorized to do repo's for a certain bank who will remain unnamed. He provided the truck I drove for him and it paid well. I quit because I'm not a confrontational person. That was a log time ago but that is how it works.

I did repo's on big trucks as well but they are easier because you grabbed the big truck and the trailer (if it was coupled to one) and drove it away. Big trucks are much easier, especially when you have a master key set. That also applies to farm and smaller tractors. You winch them up on a roll back and off you go.

 

[5030]

Bottom line is, you have to pay your debt as stipulated on your contract or it's gone and believe me, you can play cat and mouse, but in the end, you loose your possession and you are still on the hook for whatever the difference is between the wholesale price and the actual value.

Not a fun business by any means.

 

[ultrarunner]

Dads friend owned a small lot for decades and was shot in the face picking up a car…

Dangerous work…

Repo can also be sued for property damage such as damage to third party gates and garages.

 

[5030]

Dads friend owned a small lot for decades and was shot in the face picking up a car…

Dangerous work…

Repo can also be sued for property damage such as damage to third party gates and garages.

Only if done with malicious intent and not in the presence of a bona-fide police officer, which is SOP when there is a possession issue. Been there, did that and while the plaintiff may sue, they won't win. Case in point, the removing of the garage door to access the vehicle and no, I didn't carefully remove it either.... Was a long time ago and one of the reasons I quit doing it. Too much stress for not enough compensation.

 

[5030]

Finally, I was always armed myself and possess the required by law concealed carry permit. Even today, when I'm not home, I'm carrying all the time. Has to do with the 2nd Amendment last time I checked.

 

[IndyIan]

I do most of my own work, have not had anything major done in a while, the last was condenser coil on 2015 Silverado for $900. I must be out of touch from what I'm hearing. Same truck at 124k miles and their telling me ticking time bomb for the transmission to fail.

Some recent horror stories from coworkers using local reputable shops:
2017 Tahoe transmission 145k miles, $4500
2017 Ford Escape transmission $5000, it's front wheel drive!
2008 Ford Explorer water pump $5000, must drop engine?

Share your experiences if you wish.

Some vehicles have some very dumb designs to repair, so do your homework if you are planning on owning stuff out of warranty. Also watch for common problems, its all pretty much available online for anything a few years old or older.
My latest idea is look up the used part prices on car-part.com to see if a transmission is junk or not, engines, turbos, etc.... Prius transmissions go for almost scrap prices, so they aren't replaced often! Some others though are $4-5k for a low mileage one, so you know those are in high demand!

 

[5030]

I cannot wait to see how much it costs to rebuild one of the new Ford 10 speed slushboxes. That case is literally packed with stuff to break and be replaced at who knows how much cost.

When my BIL (who was the lead designer on it, told me to never get one), that sealed the fate of it for me.

One thing for certain and something I always do and that is I purchase the Ford (not aftermarket) extended warranty direct from them at the Main office in Dearborn. Once you buy the extended warranty, every Ford dealer in the country knows you have it and have to honor it, no matter what. Is it cheap? Nope, but it's better than eating a huge repair bill. You can even get scheduled oil and fluid changes on it (additional cost of course). I didn't because I don't do that 10K crap. I do mine every 5 but I have and do the rest. Just had the air conditioning compressor and clutch replaced at no charge under the warranty. I imagine with the labor and parts cost today, I was all good with just that repair. I even have rental car on it, no charge while my vehicle is in the Ford garage getting repaired.

 

[Hay Dude]

Just installed a radiator in my dump truck. Radiator, mounting hardware, upper hose & thermostats

$1,286.

 

[not2old]

Just installed a radiator in my dump truck. Radiator, mounting hardware, upper hose & thermostats

$1,286.

About 15 years ago I needed a new radiator in my 1990 Ford F250. I was quoted $700.00, paid in advance, with no delivery date and not cancellable. The alternative was a chinese made unit for about $150.00 which is still in my truck with no problems. Don't know what they cost now.