repo


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repo

1. noun Any property that has been repossessed due to unpaid debt. The lot is filled with repos that have been collected by the bank over the years and have yet to find a new owner. I was wondering why the house was so cheap, until I found out that it was a repo.
2. adjective Having to do with property that has been repossessed due to unpaid debt. You can get some really great deals on repo houses because the banks are eager to get them off their books. I thought I was saving a bunch of money buying a repo car, but it was in such terrible shape that it's actually costing me a lot more to get it up to scratch!
3. adjective Having to do with the process of repossessing property due to unpaid debt. I worked for a time as a repo man for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. A friend of mine is a repo officer and said that she sold a motorcycle worth nearly $10,000 for just $1,200 the other day.
4. verb To repossess some piece of property due to unpaid debt. They threatened to repo my car if I didn't start meeting my monthly loan repayments. Banks actually dislike repoing houses because it reflects poorly on their accounts, so they might be willing to negotiate with you if you're having trouble paying your mortgage.

repo woman

slang A woman whose job entails repossessing property from people who have fallen into debt. I worked for a time as a repo woman for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. I was forced to live out of my car for a few months, until a repo woman eventually came and repossessed that, too.
See also: repo, woman

repo man

slang A man whose job entails repossessing property from people who have fallen into debt. I worked for a time as a repo man for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. I was forced to live out of my car for a few months, until the repo man eventually came and repossessed that, too.
See also: man, repo

repo officer

slang A person whose job entails repossessing property from people who have fallen into debt. I worked for a time as a repo officer for a department store. You wouldn't believe the amount of crap people would buy on credit when they had no realistic way of paying it back. I was forced to live out of my car for a few months, until the repo officer eventually came and repossessed that, too.
See also: officer, repo

repo

(ˈripo)
1. n. a repossessed car. I’d rather have a plain used car than a repo.
2. tv. to repossess a car. Some guy came around and tried to repo my car.

repo man

(ˈripo ˈmæn)
n. a man who repossesses cars for a living. I’d rather beg than get a job as a repo man.
See also: man, repo
References in periodicals archive ?
In particular, the overnight repo rate (being the operational target) signals the stance of monetary policy.
After that, we see a clear upward trend in the Fed's holdings of these securities, coinciding with the decline in the tri-party repo volumes.
Viewed over the period 2013-2017, the lower repo rate would contribute to better goal-achievement.
A key distinction between repo lending and a collateralised loan is that legal ownership of the security is transferred, providing the repo lender with stronger control over the collateral, as well as quick access to collateral if the counterparty defaults.
Repo creditors' exemption from these rules privileges them over the failed firm's other creditors.
The volume of repo transactions in the United States is large.
Indian Bank too said its home and vehicle loans will be linked to the repo rate from August 15.
The government bonds issued by the Ministry of Finance of Azerbaijan are in high demand as a repo subject.
Cristina Arceo, MART director and first vice president at China Bank, said the rules on short selling should be clarified to generate liquidity in the market and help revive the repo market.
After two successive hikes, the repo rate currently stands at 6.50 percent.
Dubai: Dubai Financial Market (DFM) said it has granted Equities First Holdings, (EFH), a global lender in shareholder financing solutions, an approval to provide Repurchase (Repo) transactions, the first of its kind in the region.
* This history of the formation and development of the GSCC describes the state of the market in the 1980s; the establishment of the GSCC and its adoption of an automated comparison and netting system; the expansion of the system to include Treasury auction awards, and later, repos and reverse repos; the addition of services for brokered repos; and the launch of the General Collateral Finance Repo service (GCF Repo[R]).
The Bangko Sentral ng Pilipinas (BSP) expects financial institutions to eventually be able to use their holdings of privately issued bonds to generate short term liquidity, once the so-called 'repo' market for government securities is firmly established.
To remove "friction cost" on repurchase or repo transactions under the government's repo program, the Bangko Sentral ng Pilipinas (BSP) has removed the reserve requirement on eligible deals starting next week, December 1.
Hikes reverse repo rate but leaves repo rate unchanged to reduce gap