- a repossessed property, especially a financed dwelling repossessed by the bank or other financing institution for delinquency of payment and offered for resale: We bought this trailer as a repo and have lived in it for 12 years, but now with kids we’re running out of room.
- engaged in or relating to the business of repossessing or taking back high-priced merchandise, such as motor vehicles or machinery, from buyers who have failed to pay: I’m told that a repo company can just go to an address, find the car parked, and grab it.
- to repossess or take back (merchandise) from buyers who have failed to pay: When their dry cleaning business really began to struggle, the bank repoed all their equipment.
- repurchase agreement
- repossession of property
- (as modifier)
