Buying a Repossessed Vehicle
 

Anybody have any experience purchasing a repossessed car or other vehicle?

EV+? What is the right way to go about it?

Re: Buying a Repossessed Vehicle
 

be sure to go over everything on the title. oh, and test drive it.

Re: Buying a Repossessed Vehicle
 

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Anybody have any experience purchasing a repossessed car or other vehicle?

EV+? What is the right way to go about it?

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I had a friend who got one, and found a [censored] load of cocaine unerneath a quater panel

Re: Buying a Repossessed Vehicle
 

That's awesome. The car paid for itself.

-Michael

Re: Buying a Repossessed Vehicle
 

How cheap are they? Where does one go to purchase one?

Re: Buying a Repossessed Vehicle
 

Apparently, you can get them for around half-off the blue book value through government auctions. Just started googling it and have run into a number of cheesy sites proclaiming they would privy you to all the inside knowledge of the trade...for a low fee of course.

Still looking into it....if anyone has any more information, give it up por favor.

Re: Buying a Repossessed Vehicle
 

Spend $75 or $100 to have a mechanic go over the car to find out if anything is wrong. If they won't let you take to a mechanic to check it out, don't buy it.

Re: Buying a Repossessed Vehicle
 

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Anybody have any experience purchasing a repossessed car or other vehicle?


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I have some experience in repossessing them and then selling them after that. Some dealers use this as a marketing ploy but its ridiculous. No one is going to be selling a car for less than it is worth just because of a default. How would it benefit a bank to take less for a car they have already lost money on?

Also, most of the cars I have repossessed have been treated very badly. People who don't pay for their vehicles also don't spend any money on caring for the vehicle.

FGS