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repo

repo

4 6.3
A thing that a lender takes back when payments stop
  • noun
  • /ˈriːpoʊ/
  • US
translation icon : recuperación de bienes
  • The only catch is, if you miss a payment, they send out the repo man to recover their property.
  • a repo man
  • a repo car
  • a repo firm

And finally one day my sibling, my sister called me and told me hey, his car got repo.

Examples

  • You'd think with two mortgages out the repo guys staking out my car my job on the line and my wife threatening to leave that I'd stop instead of staying in the chase doubling down.

  • After missing three monthly payments, she was worried about the possibility of a repo of her vehicle.

  • Yeah, I'll probably have a repo man showing up at my house in a few weeks.

  • I have my truck repo'd, lost my apartment, and my health insurance.

    Blog text (29)
  • I was behind on my Miata payments, and Gruber worked for the repo company.

    Fiction book (2001)
  • The bank sent a repo man to retrieve the car after the borrower missed several payments.

  • His job as a repo specialist involved tracking down and collecting cars from delinquent borrowers.

Synonyms

repossession
vsrepo
  • Specialized
5 6.7

The lender takes back property such as a home or car when the borrower stops paying

is the shorter informal form referring to the same lender action

Antonyms

to release
  • Formal
69 2.6

To give up a right, claim, or ownership of something

Surface Forms

repo singular
repos plural

Etymology

Repo comes from repossess, where re- means 'again' and possess means 'own', so a repo is the act or the item a lender 'takes back' when payments stop.