How To Buy Repossessed Cars

With so many cars being repossessed nowadays, buying one can save you a lot of money. But where can you find repossessed cars and how do you buy them?

Car repossession occurs when finance companies repossess a vehicle from an owner for non payment. For further details on the actual car repossession process, read Why Is A Car Repossessed. Once the vehicle is repossessed, the lender will look to sell the car as quickly as possible, which can mean that the price will often be lower than the going rate - excellent news for any prospective buyer.

Often people who cannot afford to buy from a conventional car dealer will look to buy a repossessed car. Repossessed cars are often cheap and in mint condition. Our step by step guide for knowing how and where to buy them will help you if buying a repossed car is something you are interested in.

1. Where are Repossessed Cars Sold?
There are various methods for selling repossessed cars, depending on where you live. The best place to start looking for one is in a car auction. The majority of repossessed cars are sold in car auctions. On the bottom right of our homepage there are links to local car auctions in your area.

Read our guide on Buying Repossessed Cars At Auction for further advice on buying at a car auction.



As well as auctions, it's also a good idea to get in touch with local car dealers. A good local car dealer will often be attending these auctions and picking up bargains himself. Speaking to them for advice can be helpful and often they may have purchased repo cars themselves and are looking to sell them - this means you won't have to attend a car auction yourself and go through the bidding process. Their experience can help you.

If you are planning on attending an auction make sure you know what you are doing. Reading our guide on Bidding For Repossessed Cars At Auction will help.

Another option would be to contact the bank themselves. They often have lists of repossessed homes as well as repossessed cars. These lists are made up of repossessed properties and vehicles which are due to go to auction, sometimes you can get access to a car before it goes to auction.

2. Payment
When purchasing from a car auction, its usually preferable to have cash available. Many auctions nowadays accept other forms of payment so it's worthwhile contacting the auctioneers prior to attending and finding out.

When purchasing from a bank, they may be interested in setting up a new finance plan with you for the vehicle. Make sure you stick to manageable payments - otherwise it could be you facing car repossession.

3. Check The Car
When buying from an auction, it's very important to remember that cars are sold "as seen". this means that there won't be a refund available in the majority of cases, so it's important to check the car before you buy.

Our Avoid Buying a Stolen Car article will help as well as our guide on buying repossessed cars at auction.

4. Buy The Car
When buying at an auction, it's very important to understandthe bidding process. When bidding it's very easy to end up paying over the odds, make sure you have a maximum price in mind for any car and stick to it. Being patient is the key, your car will come but don't rush it and end up buying a clunker. Remember there are no refunds.

Read our guide on bidding for repossessed cars at auction.

Repossessed Cars: MJ Kid Kicks Repo Man In Ass

Funny video from reality TV show, Operation Repo. The US programme shows “real-life” car repossessions. In this episode, the team go to repossess a young man’s car and find themselves on the end of a Michael Jackson superkick.

Repossessed Cars: Types of Cars

Many buyers of cars rave about the amazing deal they picked up. Not only can they buy repossessed cars at knockdown prices but there is also access to a wide range of ex-demonstration, company, fleet and ex-rental cars. You too can reap the benefits of buying a bargain used car if you follow the tips which are laid out below.

Most important when buying any prospective car is to try and establish how well the car had been taken care of previously.

Questions to Ask?
Was the oil changed on time?
- Was the car given routine services and maintenance?
- Were repairs made immediately when required?
- Was the car ever involved in an accident?

As a buyer of repossessed cars, being able to find the answer to these questions can help you find the bargain repossessed car that you have been looking for at a superb price. It’s important to be extra careful and following the correct steps can ensure you pick up a bargain repossessed car.

Types of Used Cars
Cars which are available in auction, are often classed as repossessed but can go by a variety of names. It’s important to learn the terms so that you get a better idea of what type of car you are buying and what to look for whne inspecting a vehicle.

1. Company Car
Company cars are usually bought by a company or organisation as new and then driven by an executive of the company for a period of time. Company cars are often
sold on in auction after a few years use but have often accumulated many miles during that time.

2. Demonstration / Demo / Ex-Demo Cars
Demo or ex-demo cars are usually used by a dealership for customer test drives. They have often been driven by the sales staff, dealership staff or customers. These cars aften nearly new and are fairly low mileage.

3. Rental Cars
Rental cars end up at auctions after 2 or 3 years use by a rental company. Again these can be high mileage vehicles but many experts insist ex-rental vehicles are good value if in good condition.

4. Repossessed Cars
When an owner is struggling to keep up with car repayments, the car can be repossessed and sold on in auction. Repossessed cars can be a great option as they have often been looked after well and are only repossessed once the owner suddenly falls into financial difficulty.

5. Salvage Cars
Salvage cars are damaged vehicles which have not been repaired due to the expense in fixing them so they are sold to salvage companies or auctions for parts. Some salvage cars can prove to be a bargain, as they have been written off as non-roadworthy when in reality they have only little damage and can be repaired.
It’s recommended that you have a good knowledge about cars before attempting to try and buy a salvage car. If you don’t know what you are doing, they can be a risky proposition.

When buying any car, particularly repossessed cars it’s important to check the following:
- Age of vehicle
- Maintenance Records / Service History
- HPI Check / Car History Report
- Number of Previous Owners
- Mechanic Opinion
- Price

Read our guide for buying repossessed cars for further free information.

Repossessed Cars UK

If you are interested in finding out more about car repossession in the UK or where to buy repossessed cars then this site can provide you with full information on how to go about doing so.

Has you car been repossessed? Are you in the process of your car being repossessed? Are you struggling with payments for your car and facing car repossession? This website has been set up in order to give you free advice on repossession cars.

Are you interested in finding out where to buy repossessed cars? Find the best repossessed cars sale here at repossessed cars uk. We provide links to auctioneers hosting car repo auctions throughtout the UK. All our mentioned auctioneers have been checked in order that you can buy repossessed cars from reputable auctioneers. Simply click on the local regions of the UK listed in the bottom right. If you are unable to currently view the repossessed cars UK list then click on home at the top of this screen and the list will appear in the bottom right. We also provide buying tips and guides on how to buy repossessed cars and cars in general.

Repossessed Cars UK provide a comprehensive links and advice section, providing details of legal terms related to repossession cars, how to deal with car repossession bailiffs, as well as links to other organisations who can provide further help in resolving your situation if you are facing car repossession. Some of our information is applicable to uk repossessed cars scenarios specifically, however the majority of the info can be applied in most countries around the World.

If you have experienced car repossession and would like to share your story or have some information you would be interested in adding to Repossessed Cars UK then please do not hesitate to contact us by emailing info@repossessedcars2009.com

Repossessed Trucks

It’s not just cars which are sold at knockdown prices after being repossessed. There are other types of repossession vehicles which are also sold to the public, namely repossessed trucks.

Many owners of commercial vehicles suffer from struggling to keep up repayments and as a result, their truck or van will be reposed by the loan company. Lenders attempt to try and recover losses as quickly as possible, and don’t want to add to their costs by wasting further funds on storage. The best way for them to do this is to sell the repossessed truck in the fastest time possible at the most reasonable price they can achieve. This means that repossession trucks can be bought at a price which is significantly lower than the market rate. This is unfortunately, bad news for the person whose truck has been repossessed, as it is they who will pay the difference of the outstanding loan back to the lender once the truck has been sold. But where are these vehicles sold?

The best and safest place to buy repossessed trucks is at an auction. There are many auctions throughout the country which specialize specifically in reposed trucks and other repossession commercial vehicles. One of the most well known is Manheim Commercial lorryAuctions. These are located nationwide and give a buyer a safe environment and the security that their purchase transaction will be legitimate.

The advantage of buying at a repossessed auction is that you can make huge savings on the list price of most vehicles, however it’s important to note that vehicles are sold as seen so no comebacks in the case that you end up buying a lemon. Below are some important tips when buying at a repossessed trucks auction.

1) Go on a trial run to a repossessed auction to see how it works and don’t do any bidding.

2) Look out for quieter auctions as there are less people to bid against.

3) Check the truck thoroughly and take a mechanic with you if possible.

4) Have a maximum bidding price in mind when you view the truck and STICK to it.

5) Don’t be drawn into a bidding war.

6) Remember there will be auction fees, find out how much these will be before you start bidding.

7) NO refunds if you buy a lemon so don’t forget this.

View our full list of where you can buy repossessed trucks.