The American Repossessor

As the newspaper “Dienas Bizness” repots today, the Latvian leasing companies have been repossessing 500-600 cars each month of this year or 17-20 cars a day, informs LETA.

The Latvian Authorized Automobile Dealers Association’s Member of the Council Andris Kulbergs is not surprised at the number of cars repossessed by car dealers. He believes that even more than 600 cars could be repossessed each month. “All the dealers are teetering on the edge of an abyss,” said Kulbergs.

However, the leasing companies inform that the number of repossessed cars has stabilized, and even decreased if compared to the beginning of the year, Dienas Bizness writes.