More Lenders Reluctant To Repossess Vehicles

News & Features Tamara Keith · ·
Luxury cars like this Mercedes-Benz have been showing up more frequently in repo auctions lately. Repossessions are up 10 percent this year and rose by the same amount in 2007 as well. But those in the business say lenders are now trying to avoid repossessing vehicles because they're losing so much money when they are sold at auction.