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These entities regularly auction off repossessed cars. Places and times vary by bank and region, so call the banks in your area to get started.

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โˆ™ 2010-02-25 21:21:29
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Q: How can I buy Repossessed Cars from bank or title lender?
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Related questions

Does Bpi Savings Bank have repossessed cars for sale?

yes


How do you use the sentence he had?

He had seven cars, but the bank repossessed five of them. He had a cookie, but someone ate it.


Which bank discharges a mortgage?

The lender that you paid off, OR the lender who officially holds title per the registry of deeds. (You'd determine this by reviewing the title exam).


How do you reacquire your car after its been repossessed?

You contact the LENDER. Very simple. Have the bank /lender fax the exact amount you need to pay and tell them you want the repo fees included in that number.


How can you buy a repossessed vehicle directly from the bank?

Banks often keep repossessed vehicles in their parking garages. or in an appropriate storage area a reasonable distance from the bank. Walk into the bank and ask for the person in-charge of repossessed vehicles. Once onto the right department, state that you wish to purchase a particular repossessed vehicle when the title has cleared with the bank...and don't be intimidated into thinking you can't bargain, you can. Good luck.


Does a bank or finance company have to tell you how much your repossessed car was sold for?

Susan, what state are you in?? Who was the lender?? Laws vary by state. Email if you need too. Thanks


When do cars get repossessed?

Depending on the bank used to finance the car, after failing to pay 3-5 payments the vehicle will be repo'd.


If the bank never repossessed your car and you gave to your landlord for back rent then your wages were garnished after it's paid off can you get possession of your car back?

It was never yours to give to the landlord. IF the landlord settled with the LENDER to get title, then YOU are out of the picture completely. EXCEPT for the garnishment of course.


Does a lender need to notify you before they sell your car they repossessed?

Yes, they also have to send you official letter from auction at the price they sold it to deduct from the amount you own to the bank.


If you have the title to your vehicle can the bank still repossess it?

If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes


How can you register and make legal the car whose loan you defaulted on but which was never repossessed?

You'll have to pay off the bank and get the title cleared.


What happens to repossessed cars?

Repossessed cars are typically cleaned up and resold on a dealers lot. However, if the lienholder (the person who repossessed it) feels that it will cost too much to restore the vehicle to a sellable status, they will just put it in an auction and take whatever they can get for it. Repossessed cars are first examined fully to determine the remaining value of the car. If the car is suitable for repossession, it will be resold to another person for a discounted price.

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