LS6 owned by GMAC? Need GMAC employee/VA expert.

[Mr70]

Dave
My Chevelles' history is similar.
My car was assembled October 24th,1969.It was delivered to the selling dealership on October 30th,1969.
The states VIN records show the very first owner was the local towns 1st National bank on 7/9/70,noting "REPO" issued on 7/10/70.
It then goes on to show the first human owners name on 8/10/70.
I don't know if this means it was sitting on the dealers lot for 9 months,or if it was repossessed a day later by the lending bank..or if this was normal operating loan procedure?