Stumped by ‘Seized vehicle’? Get the answer here!

The answer to the crossword question “Seized vehicle, for short” is REPO. This term is short for “repossession“, which refers to a situation where a creditor takes back a vehicle or other property that was used as collateral in a loan agreement. A seized vehicle can occur when the borrower fails to make timely payments on the loan, and the creditor takes legal action to recover their property. In these cases, the creditor can sell the vehicle to recoup some or all of the outstanding loan balance. The term “repo” is commonly used in the auto industry and is also frequently used in finance and banking.