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.
Wednesday, 26 August 2009
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.
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
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.
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.
Sunday, 21 June 2009
Guide for Buying Repossessed Cars At Auction
When buying at a repossessed car auction, there is much more to do than just assessing the appearance of a car you are interested in. Further research is required before a purchase is made. Car auctions are widely regarded as being the best place to pick up second hand or repossessed cars at the best price, but it is also very important to note that people often end up paying over the odds or picking up a repossessed car which gives them mechanical problems.
For this reason we have put together a comprehensive guide to buying a repossessed car at a car auction near you. This will help to assist you especially if you are attending your first auction. If you are going to your first auction, we would recommend attending with someone who has been before and is familiar with the process or we would recommend only observing on the first occasion. Remember that casr are sold “as is” at auction, which means that the vehicles will be sold as they appear on the lot and once the highest bid has been made, it is binding.
Below is a guide to purchasing a repossessed car at an auction:
1. Take A Mechanic With You
It is advisable to take a car mechanic with you when attending an autcion, particularly if your knowledge on what's under the bonnet is limited. The expertise of a mechanic could save you lots of money in the long run so even paying him a small amount could help you pick up a good deal. It is important to check the car from top to bottom especially the engine. The majority of auctions do the utmost to make sure the repossessed cars on offer are at a high standard and are reliable. However, it is important to note that some vehicles which are below standard do make it through so it is important to make sure you avoid these kind of vehicles.
2. Study the Vehicle History
Before making a bid you should make sure you study the history of a vehicle. Auctions are often made up of cars which have previously been in accidents, and these are the cars which are usually being sold cheaper than the market rate for the specification of car. It is important to note that these cars may cause problems by not running properly especially if they have been in a major accidents and repaired. Slightly accident damaged motors can often prove to be a bargain so try to keep an eye out for these.
3. Have a Price in Mind and Stick to it
Do not bid too much for a car. It is very easy to go above market price when bidding so we would advise to calculate a price for a vehicle you are interested in and don’t go above this price. Repossessed cars often get overpriced when there is a bidding competition. In these cases we would advise to not get involved and let the winning bidder take it. If the price becomes too overinflated it may be better to look at other options.
4. Check the Pedals and Steering Wheel
A very simple tip when buying at auction or buying any used cars is to check the pedals. These are usually not replaced or changed so it can often be a giveaway when the exterior of a car has been modified or repaired to make it look almost new. If the pedals are worn and the outside of the car looks brand new then you know that something has been changed. It is recommended to check the paintwork thoroughly and also have check the steering wheel. Move it back and forth, any clunking noises and this is a car we would not recommend you buy.
5. Carefully Examine the Frame
If a car has a damaged frame, this would indicate that this is a vehicle which has been involved in a major accident at some point in its history.
6. Run A Finger Into The Edges
When examing the car we would advise to run your finger into the edges of the paintwork, rough spots indicate that the car has been fixed after being in a major accident. These rough spots appear when masking tape has been applied to the car bodywork during a paint job. Also look for changes in shades of colour. New resprays may have a slightly different shade of colour - another giveaway that a car has been repainted after a collission.
In summary its important to not rush into buying something you are not sure about. You should have a good feel about the car and make sure the price is right. If its something you are planning on driving for a while why push yourself into buying a car at the first auction you attend. Would it not be better to attend a few auctions, learn the process and wait for the right car at the best price to come along?
For this reason we have put together a comprehensive guide to buying a repossessed car at a car auction near you. This will help to assist you especially if you are attending your first auction. If you are going to your first auction, we would recommend attending with someone who has been before and is familiar with the process or we would recommend only observing on the first occasion. Remember that casr are sold “as is” at auction, which means that the vehicles will be sold as they appear on the lot and once the highest bid has been made, it is binding.
Below is a guide to purchasing a repossessed car at an auction:
1. Take A Mechanic With You
It is advisable to take a car mechanic with you when attending an autcion, particularly if your knowledge on what's under the bonnet is limited. The expertise of a mechanic could save you lots of money in the long run so even paying him a small amount could help you pick up a good deal. It is important to check the car from top to bottom especially the engine. The majority of auctions do the utmost to make sure the repossessed cars on offer are at a high standard and are reliable. However, it is important to note that some vehicles which are below standard do make it through so it is important to make sure you avoid these kind of vehicles.
2. Study the Vehicle History
Before making a bid you should make sure you study the history of a vehicle. Auctions are often made up of cars which have previously been in accidents, and these are the cars which are usually being sold cheaper than the market rate for the specification of car. It is important to note that these cars may cause problems by not running properly especially if they have been in a major accidents and repaired. Slightly accident damaged motors can often prove to be a bargain so try to keep an eye out for these.
3. Have a Price in Mind and Stick to it
Do not bid too much for a car. It is very easy to go above market price when bidding so we would advise to calculate a price for a vehicle you are interested in and don’t go above this price. Repossessed cars often get overpriced when there is a bidding competition. In these cases we would advise to not get involved and let the winning bidder take it. If the price becomes too overinflated it may be better to look at other options.
4. Check the Pedals and Steering Wheel
A very simple tip when buying at auction or buying any used cars is to check the pedals. These are usually not replaced or changed so it can often be a giveaway when the exterior of a car has been modified or repaired to make it look almost new. If the pedals are worn and the outside of the car looks brand new then you know that something has been changed. It is recommended to check the paintwork thoroughly and also have check the steering wheel. Move it back and forth, any clunking noises and this is a car we would not recommend you buy.
5. Carefully Examine the Frame
If a car has a damaged frame, this would indicate that this is a vehicle which has been involved in a major accident at some point in its history.
6. Run A Finger Into The Edges
When examing the car we would advise to run your finger into the edges of the paintwork, rough spots indicate that the car has been fixed after being in a major accident. These rough spots appear when masking tape has been applied to the car bodywork during a paint job. Also look for changes in shades of colour. New resprays may have a slightly different shade of colour - another giveaway that a car has been repainted after a collission.
In summary its important to not rush into buying something you are not sure about. You should have a good feel about the car and make sure the price is right. If its something you are planning on driving for a while why push yourself into buying a car at the first auction you attend. Would it not be better to attend a few auctions, learn the process and wait for the right car at the best price to come along?
Repossessed Cars - How to Avoid Buying a Stolen Car
Last year, 350,000 cars were stolen in the UK. If you were to accidentally buy a stolen car, you may have no right to keep it even if you handed over your own money for the car. Below is a guide on avoiding how to buy a stolen car. Some of these tips can be used when trying to buy repossessed cars.
1) Telephone Numbers
Check the number on a car advert. Mobile numbers are almost possible to trace, so try and get to speak to the owner on a landline. Be wary if you are asked to call at a specific time, this could be a phone box number.
2) Viewing
Arrange to view the car in the daytime at the address the car is registered to. Don't agree to have the car driven to you or meet in a public place like a lay-by or car park. If you are asked to do this you should be suspicious.
3) Check Documents
Ideally every car seller will provide a V5 log book which is its registration paper, MOT, Tax, Service history and receipts for maintenance work. Check the seller's name is on the registration to make sure they have the right to sell the car. Ask them for ID to confirm this.
Check the VIN number on the vehicle registation papers. VIN stands for "Vehicle Identification Number" and every car has a unique one.
Check the registration matches the car's number plate. Hold the V5 log book up to the light and check that you can see the DVLA watermark on the paper. Never buya car without a V5 log book, ewven iof the seller claims that he has sent it away to update the information to the DVLA.
4) VIN and Etching
A stolen car that has its VIN changed is a "ringer". Some car models have the VIN etched on the windows or the headlamps of the car so its important to look for these. Be wary if there are stickers on windows as this may be an attempt to conceal numbers that don't match the vehicle.
5) Inspect the Vehicle
Check the locks as thieves replace locks, also inspect the vehicle thoroughly to see if there is any damage. Check the paint in the boot by removing the carpet where the spare tyre is. The inside should be the same any different could indicate the car has been resprayed.
6) Car check
There are many companies offering car checks and HPI checks on vehicles for a small fee. This will tell you if the car has any outstanding finance, it has been written off or if it has been registered stolen. They will also tell if you if it is registered as SORN (Statutory Off Road Notification), this means the car has been registered as not road worthy. It is worth paying this and avoiding bigger headaches after purchasing a stolen car.
7) Instincts
Always trust your instincts. If the deal feels at all suspicious, you have the right to just walk away, there are plenty of other cars available.
1) Telephone Numbers
Check the number on a car advert. Mobile numbers are almost possible to trace, so try and get to speak to the owner on a landline. Be wary if you are asked to call at a specific time, this could be a phone box number.
2) Viewing
Arrange to view the car in the daytime at the address the car is registered to. Don't agree to have the car driven to you or meet in a public place like a lay-by or car park. If you are asked to do this you should be suspicious.
3) Check Documents
Ideally every car seller will provide a V5 log book which is its registration paper, MOT, Tax, Service history and receipts for maintenance work. Check the seller's name is on the registration to make sure they have the right to sell the car. Ask them for ID to confirm this.
Check the VIN number on the vehicle registation papers. VIN stands for "Vehicle Identification Number" and every car has a unique one.
Check the registration matches the car's number plate. Hold the V5 log book up to the light and check that you can see the DVLA watermark on the paper. Never buya car without a V5 log book, ewven iof the seller claims that he has sent it away to update the information to the DVLA.
4) VIN and Etching
A stolen car that has its VIN changed is a "ringer". Some car models have the VIN etched on the windows or the headlamps of the car so its important to look for these. Be wary if there are stickers on windows as this may be an attempt to conceal numbers that don't match the vehicle.
5) Inspect the Vehicle
Check the locks as thieves replace locks, also inspect the vehicle thoroughly to see if there is any damage. Check the paint in the boot by removing the carpet where the spare tyre is. The inside should be the same any different could indicate the car has been resprayed.
6) Car check
There are many companies offering car checks and HPI checks on vehicles for a small fee. This will tell you if the car has any outstanding finance, it has been written off or if it has been registered stolen. They will also tell if you if it is registered as SORN (Statutory Off Road Notification), this means the car has been registered as not road worthy. It is worth paying this and avoiding bigger headaches after purchasing a stolen car.
7) Instincts
Always trust your instincts. If the deal feels at all suspicious, you have the right to just walk away, there are plenty of other cars available.
Repossessed Cars - Buying At British Car Auctions
This video from British Car Auctions, gives you an insight on what actually happens at an auction and how the bidding is done. Car Auctions are a great place to find repossessed cars and British Car Auctions are a nationwide auctioneer.
When attending an auction we would advise to always have a maximum bid in your mind and stick to this figure and don't be tempted to go over it. There are plenty of other cars available don't be sucked into overbidding on one. To find out more about auctions feel fere to read our free informational auction guide so you know which is the best repossessed car to buy.
When attending an auction we would advise to always have a maximum bid in your mind and stick to this figure and don't be tempted to go over it. There are plenty of other cars available don't be sucked into overbidding on one. To find out more about auctions feel fere to read our free informational auction guide so you know which is the best repossessed car to buy.
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