Thursday, September 4, 2025 - A 2015 Passat Variant listed as a repossession unit on Marketplace has sparked conversation after it emerged that the previous owner stripped several parts off before the lender could recover it.
An X user shared the photos and said while repossession is
undoubtedly a painful and humiliating process, such actions often prove
self-defeating.
Once the lender repossesses a vehicle, it is typically
auctioned to recover outstanding arrears.
But if the car has been vandalized or stripped, its value
drops significantly at auction.
The irony is that the borrower still remains liable for the
balance if the proceeds from the sale fail to cover the debt.
In short, damaging the car doesn’t hurt the bank as much as
it hurts the owner, who risks facing an even larger shortfall plus legal
action.
This Passat serves as a sobering reminder: however tough repossession feels, stripping or sabotaging an asset only makes an already bad situation worse.
){kind=link}
0 Comments