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Here is a variety of advice:

  • If I were you I would check out your county for repossessions to be sold they generally sale for 2/3 of the loan value.
  • I would NOT buy a car that has been repoed. Simple logic tells me that the driver was NOT doing ANY repairs or even oil changes, before it got pulled away. In my years of experience doing vehicle repos, (yes I do know what I am talking about here) the number of outright clunkers was higher than 75 percent.
  • Junk on wheels is what we used to call them. Run to death and barely able to be driven. Buyer beware is what I say.
  • What if my truck worth 15k is repoed because I quit paying on the 20k loan. Then I buy it at auction because I know I took care of it? Heck, I could even dirty it up inside a little first so it will auction for less.
  • It won't work. If it was repo'd by a buy-here-pay-here lot, they'll put it back on the lot and certainly aren't going to deal with you. If it was taken by a bank or manufacturer's finance company, it is going to a wholesale auction where you need a dealer's license to bid. Some smaller credit unions or finance companies will sell their repo's in their parking lot, but that's just like the BHPH place - they aren't going to talk to you. Besides, you STILL OWE the difference between the loan (plus repo fees) and what it brings. It's cheaper to make your payments.
  • It's fine to buy a repo car if you take someone with you who knows a bit about cars. Where repo cars are sold is different from place to place. Try Googling your city and car auctions or else looking up auctions in the phone book.


  • Call your local Credit Unions and ask them if they have any vehicles for sale. Most of them do these days. These are high quality cars for good prices and you are buying from a reliable source. Credit Unions will also give you good financing terms to get the cars off of their books. You could search online or just open the phone book and start calling.
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โˆ™ 2009-09-25 16:48:56
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Q: Where can you buy repossessed cars?
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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/


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.


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.


How do you buy finance repossessed cars in Australia?

Go to a repossession auction. They are often advertised in the newspapers and on radio.


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.


Where can you buy repossessed cars in new Zealand?

http://www.trademe.co.nz/Trade-Me-Motors/Cars/Jeep/auction-150415882.htm http://www.trademe.co.nz/Trade-Me-Motors/Cars/Jeep/auction-150415882.htm


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.


What do they do with repossessed cars ?

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


You want to buy reposessed land from the bank?

It is possible to buy repossessed land from the bank. Most banks hold monthly auctions where they sell repossessed land, houses, cars, etc. The prices of these items are usually considerably lower than retail cost, so it is a good investment.


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.


What happens to cars after they have been repossessed?

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


How to you buy repo car from bank?

Many banks will have a list of repossessed vehicles at their branch offices. They may also have a list of these vehicles on their website. Some banks auction off cars that are repossessed and they wind up at used car lots.


Why are cars and trucks usually repossessed?

nonpayment of loans, usually.


Does Bpi Savings Bank have repossessed cars for sale?

yes


A Repossessed Car Can Be Your Dream Deal?

Some of the best cars to buy are repossessed cars. If you're in the market for a used car, someone else's financial misfortune could turn into a spectacular deal for you. Most auto loan companies try to re-sell the cars they repossess in order to recoup their losses. If they sell the car for more than is stilled owed on it, the owner will get the difference. If it's sold for less than what's owed, the owner will have to pay. Either way, repossessed cars are often sold at considerable discounts off the Blue Book price, and knowing how to buy them can save you a lot of money. The reason repossessed cars are usually the best cars to purchase is that they were usually not involved in accidents, floods or stolen. The fact is that most repossessed cars were driven and used responsibly and reliably. If you would like to purchase reposed cars, there are a couple of ways to go about it. You can go to a few auctions and try to spot some, or you can buy access to a directory that will let you in on the newest cars that were part of a foreclosure. This way, you can jump on the crowds and can sometimes pick up a car for much less than you thought you would. Some ways to get a head start would be to call your local auction houses and get the times and dates of upcoming repossessed car auctions. Most repossessed cars are sold via auction, but you should contact local banks and ask whether they sell repossessed cars. Rather than paying the expense of an auctioneer, some small lenders choose to sell the cars themselves, either through a website or through their own on-site sale. Call local used auto dealers. Both new and used auto dealers sometimes put repossessed cars back on the lot. Ask the dealers you call whether this is the case and whether they can show you some repossessed cars in stock. Browse the local newspaper for listings of repossessed auto auctions. Many times, banks and auction houses will take out large ads in the interior of the paper or list the upcoming sales in the auctions section of the classified ads. Make sure you bring the correct form of payment to buy your car. When you call businesses that may have repossessed cars to sell, ask them what methods of payment they accept, so you'll know in advance what arrangements need to be made. Examine the car thoroughly before you make an offer to buy it. Ask for a vehicle history report. Also, be sure to check under the hood, look under the car, and inspect the interior for defects. If it's possible to take the car for a test drive before making an offer to buy it, do that to get an idea of how the car sounds and handles on the open road.


How can you buy a repossessed truck?

Go to bank or other place that repossessed the truck. Pay cash for it etc


What happens to title loan cars when they are repossessed?

They are sent to an auction and sold.


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.


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.


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.


Where can one find information on repossessed car auctions?

You can find information on repossessed car auctions on websites such as Absa (under repossessed cars), AutoBidMaster and RepoDirect. Depending on where you live there can also be local sources of information.


Where can I buy cheap pickup trucks?

You can find cheap pickup trucks at auctions. When cars a repossessed or taken by the cops they go up at auction. You can bid on these trucks and get a good price for them.


What is the percentage of cars that get repossessed in New York after purchase?

0.36 percent of cars purchased by owners acquiring loans are repossessed in a quarter in the New York. Repossession occurs as a result of failure of stressed borrowers to come to an agreement with their debtors.


What is the catch in buying repossessed cars?

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.