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Repossession
Debt and Bankruptcy
Bankruptcy Law

If a car that you are buying from an individual was repossessed because he filed for bankruptcy can you get it back?


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Wiki User
2015-07-15 19:33:47
2015-07-15 19:33:47

NOT if it was repoed by a lender. You had NO standing in the contract between the lender and the B/K person. You should have watched the B/K person closer so you didnt get burnt. Next time buy from a car lot or bank.

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yes but i heard another company is buying them out

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It is not so practical buying a house after bankruptcy because if there is no option for you, you might want to sell the house too, but the price would not be the same as you bought it and it is hard to sell one property.

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The biggest turn-off when buying Repossessed Car:As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the fact that Repossessed Cars were taken from their previous owners by the government, so they are basically used cars. Therefore, you must take all the steps necessary to find out about the history or the damages of the repossessed car yourself.Why you should still go for Repossessed Car:The easiest answer is: because it is very cheap. Normally, you can find one at as low as $200. Furthermore, even though repossessed cars have been used, they were taken away because their owners couldn't pay the bills, not because they were damaged or got into accidents. Thus, most of the times you will find very good repossessed cars that are perfectly normal and usable. Still, remember to check its history and VIN number! Also, remember to visit websites like www.vehicleshq.com to prepare your knowledge before going to a real repossessed car auction.

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Before buying repossessed cars, you should first research the frequency of repair and maintenance costs on the models in auto-related consumer magazines. You can also ask for the car's maintenance records from the owner, dealer or repair shop.

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There are many advantages of buying a table from the Pottery Barn. An individual would love their table because it is crafted to perfection and they last a lifetime.


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