Rolls Royce and 400,000-euro home among most expensive items repossessed

Leasing companies have put up for sale repossessed goods whose price stands at more than 400,000 euros in some cases. Among the most expensive such items are a home in Ploiesti (431,000 euros), a villa in Ramnicu Valcea (405,000 euros) and a Rolls Royce Phantom Cabriolet (288,000 euros).

These assets were repossessed from clients that defaulted and leasing companies are now struggling to resell them. The Rolls Royce, for instance, has been posted on the Tiriac Leasing website since last August, though back then its price was much higher, 460,000 euros. Such a car costs 350,000 to 650,000 euros when new.

Leasing companies have thousands of repossessed goods now, which they are trying to resell.

“If you keep a car or a piece of equipment for too long, it loses some of its value, which is why some companies cut the prices. Expensive equipment is a tough sell, while buyers for cars are more readily found. Our most expensive repossessed item was a 100,000-euro Mercedes car, which we have recently sold,” says Dan Constantinescu, sales manager of UniCredit Leasing Corporation, the biggest leasing company on the market.