answersLogoWhite

0


Best Answer

Buying a repossessed car today can be a great way to save money, but be careful to inspect the car to be sure there are no hidden problems since they are typically sold "as is". Some dealers specialize in repossessed cars and you can also find them at a local auction.

User Avatar

Wiki User

โˆ™ 2013-07-25 18:03:22
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: How might one purchase a bank repossessed car?
Write your answer...
Submit
Related questions

My Car was repossessed what do I owe the bank?

They will auction the car and you will have to pay the difference of what you owe and what the car sold for.


My car was repossessed can i get the radio i purchased out of the car?

Maybe, if you have the original, but, it is ultimately up to the bank.


Can you make a profit on a repossessed car?

Yes you can make profit on the car if you buy it from the bank.


If you get youre car get repossed can you buy a new car?

Sure, but you might have trouble getting the loan to buy it due to the fact that your other car got repossessed by the bank that gave you another loan.


What does repossession of car mean?

When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through.


How long does the bank have to come after you after your car has been repossessed?

Does the bank have your current address and/or phone number? They will be calling on you.


Can you buy another car even though is repossessed?

If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.


How do you find out who repossessed your car?

The bank/lending company are the ones who repo your car the repo chimps are just their agents.Your bank should tell you.


Why does a car get repossessed?

The person who bought the car didn't make payments so the bank takes it back.


If your car is repossessed in Pennsylvania can your wages and bank accounts be garnished?

check this site


Can a car be repossessed if a Washington state bank lends to a Oregon creditor?

Sure.


How do you nominate someone to purchase repossessed car?

You don't. The car will go to an auction, and the highest bidder will win it.


When you vehicle is reposed are you financially responsible to pay the bank anything?

When your car is repossessed from the bank, the bank will sell it, usually at an auction. You are responsible for the difference of the selling price and what you owe on the car.


How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?

When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy


If you file for bankruptcy and your car is repossessed can a friend take a loan out for you to purchase a car?

Of course, it won't legally be your car however.


You had a car repossessed you have now just finished paying for another car but the bank is refusing to give you the car title till you pay the old repossessed car can they do this?

There may be more to it. Call the banks legal department and ask them for cause.


How do get your car back after a repossession?

If your car has been repossessed by the bank for missing payments, the quickest and most efficient way to retrieve your vehicle is to contact the bank and make your back payments. When contacting the bank about back payments see if there is a new payment plan system that you can set up with them that is more beneficial to you, to avoid having the car repossessed again.


What happens if a car is repossessed?

Unless you contact the bank and work out a solution, they will sell the car. You will then be liable for the difference in what the car sells for and the balance on the note.


What are the rights of a person who Co signing a church car loan and the car is repossessed with the bank trying to collect?

I wish I knew


Do you have to pay for a car if it is repossessed?

The bank will sell yours at auction. Whatever they do not recoup, you owe the difference.


What if bank did not notify you of the sale date on the repossessed vehicle?

They do not have to notify you. You have no legal rights regarding car.


Does a repossessed car have to be sold at a public auction?

NO. It can be sold any way the bank wants it to be sold


What happens if you get your car repossessed?

if i get my car repossessed, can they put a llien on the house?


How many days late on car payment before it can be repo?

The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.


I failed to pay the pick up payment can the dealer repo my car even if its financed through a bank?

Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.

Study guides

๐Ÿ““
Create a Study Guide