Definition of "repo" in English

noun

1. (informal) Clipping of repossession, most commonly of a vehicle, house or condominium.

   • Can you do a repo tomorrow? It's an SUV in Springfield.

2. (informal) Clipping of repositioning.

   • That cruise ship starts its repo tomorrow; it's going to the Caribbean for the winter.

3. (countable, finance, informal) Clipping of repurchase A type of agreement which allows a borrower to use a financial security as collateral for a cash loan at a fixed interest rate, or to buy something back that was sold.

4. (countable, computing, informal) Clipping of repository (“storage location for files”).

verb

1. (transitive, informal) repossess

   • I had my car repoed when I became unable to keep up the payments.