Wanna be a repo person?
A car repossession is one of the worst things that can happen to a driver. A repo damages your credit beyond repair for years and leaves you without the means of transportation you likely need. It’s an unfortunate dark side of the auto loans industry, and one company is making it easy for just about anyone to get in on repossessions.
DRN, which is effectively the central nervous system of the repossession industry, sells everything from cameras that scan license plates and even access to a massive database of addresses where repossessible vehicles are likely parked. Those cameras, which are typically purchased by repossession agents, are actually available to just about anyone with a few thousand bucks to spare. You can also earn a commission on a repossession if that repo is due to the license plate info that your camera captures.
DRN
Repos are a dirty business
The Quick-Deploy LPR (license plate reader) camera is meant to be stationary. You can affix it to poles or a wall, and it can “collect the make, model, color, speed of vehicles up to 100MPH and 75ft in any light.” A Fixed LPR Camera is designed for high-speed, high-traffic roadways and can capture vehicle information at up to 150 miles per hour, even in low light. It offers real-time alerts when paired with DRN’s ClientPortal system, helping repossession agents “protect communities and generate revenue.”
DRN’s third camera, the L5M Mobile LPR Camera, is “designed for accurate plate capture on the move, even at high speeds.” It offers day and night vision, make-and-model identification, and in-car notifications. It can be mounted to a vehicle via magnets, lightbar mounts, or roof/trunk mounts specific to your vehicle’s make and model. This camera can be purchased for as little as $208 per month with a DRN-financed zero-interest loan, too.
While these cameras are meant for repossession agents, anyone can use them. DRN asks that those interested go through their sales department, but a licensed and bonded repossession agent could purchase or lease one on your behalf, or simply allow you to use one they already own. There’s really nothing preventing it.
Get paid to snitch on your neighbors
DRN first launched its revenue-sharing program in 2023. DRN says agents can earn up to $55 per repossession, as well as the fee they charge for the repossession. In addition, DRN claims it pays out up to $8,000 per month in scan bonuses.
All payments are offered on a sliding scale based on the number of plates scanned. For example, if your camera scanned one million plates in a month, you’d earn a $1,000 scan bonus and $25 for each repossession. In DRN’s example, if 115 vehicles were “recovered” thanks to your scans, you’d earn a total of $3,875 for the month in commission. Those in dense, driver-heavy locales who drive often would fare best, as the program doesn’t pay if you scan fewer than 400,000 plates in a month.
Final thoughts
DRN products are only available for sale to licensed, bonded repossession agents. You could get licensed and bonded yourself, but each state has its own rules and regulations, where you typically need a commercial driver’s license and special training before you can apply for a repossession license. Short of that, you could work with a repossession agent in your area to get a DRN camera for your car and start scanning plates as you drive, though you should expect them to want a cut of what you make.
The cost of entry is high: around $7,000 for the camera and installation, plus a monthly service charge. It could be a lucrative side gig for those who drive a lot, but it’s not a gig you can be proud of.
