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They get resold as used cars to make some of the money back.

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โˆ™ 2010-02-26 02:19:18
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Q: What happens to cars after they have been repossessed?
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Related questions

What happens to cars that have been repossessed but not auctioned off yet?

They are impounded until further action is taken


What happens to title loan cars when they are repossessed?

They are sent to an auction and sold.


Where could one search for repossessed cars for sale?

One could search for repossessed cars for sale online at the websites provided by the companies Repo Direct, Auto Bid Master, Repos 4 Sale, Cars for Sale, Bank Repossessed cars and Repossessed Cars Sale.


Where online can I go to find repossessed cars for sale?

Autobidmaster.com is a site where you can bid on those cars that have been repossessed. It offers a wide range of of models and locations of where the vehicles are being listed.


How can a person find and buy repossessed cars?

Repossessed cars are usually auctioned off in the county they were repoed in, you can also try this link to help find repossessed cars, http://ultracarfinder.com/


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.


What happens if you get your car repossessed?

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


Where can repossessed cars be bought?

Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.


What do they do with repossessed cars ?

They check them out and resell them after that for a cheap price.


What are the laws of repossessed cars in Canada?

Cars repossessed laws in Canada a vary by provine.Whether your car will be repossessed depends on such factors as the province you live in and how for behind you are with your payments.Vehicle repossessed is negative impact on your credit rating. If you want more information email me at natalsiapatterson34@gmail.com


Where can I find cheap repossessed Cars?

Your local car auction can provide you with a great selection of repossessed cars and trucks. You can contact banks and lending istituions for a list of cars tey have for sale most cars are sold at auction.


Why are cars and trucks usually repossessed?

nonpayment of loans, usually.


Does Bpi Savings Bank have repossessed cars for sale?

yes


What happens to you if your car is repossessed?

You loose your car...


In California what happens if a vehicle has been charged off and it has been over a year and you still have it but there has been no contact or correspondence from the bank regarding a repossession?

It might get repossessed.


How can I buy Repossessed Cars from bank or title lender?

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.


What do you do once your car has been repossessed?

I have a welding machine on the truck they repossessed can they keep that?


Where can one find a list of repossessed cars for sale?

A person can find a list of repossessed cars that are for sale in several different places. Some of these places include GOV-Auctions, Auto Bidmaster, and Pickles Auctions.


Do you have to pay the whole vehicle off if it is repossessed?

Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.


What happens if a police officer's house is repossessed?

then theyre out of a home


What happens if the ball is repossessed in netball?

you may need to pee


What happens to your credit when your car is repossessed?

You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.


Why are repossessed cars so cheap and what is wrong with them?

Watch out for 'flooded' cars from down south!They were repossessed, which means the individuals did not make payments on them. Which means they probably didn't bother with routine maintenance, such as oil changes. There is no telling what condition they are in.


Where are repossessed cars sold?

Repossessed cars are generally sold at auctions, so look out for car auctions in the local press. Make sure that you ask for a catalogue before the auction and do some research before you go to bid.


When a car is repossessed what do you do with the insurance?

When a car has been repossessed the person paying the insurance should cancel it.