Emerging Articles

When looking for good deals on used cars most people think the auctions are the best place to go. Most repo cars are sent directly to the auctions so the finance company can get a quick sale. This is fine but when you really want to find repo cars for sale don’t just start there. Contacting local “mom and pop” used car dealerships can be a great way to go. Most public auctions have so many customers that the high bids come close if not more than what you’d pay for a used car at a used car lot. Car dealers can get into auctions specifically for dealers that have repo cars for auction. Since it’s only dealers, even if there is no professional courtesy, when one dealer wants a specific car the high bids generally stay pretty low because dealers know they need to make room to bump up the price to make a profit. Make it a point to talk to the owner of the used car dealership, let them know what you’re looking for and what you’re willing to pay and when they go to the repo car auction they can usually get you what you want at the price you want.

You may have heard the phrase “position is nine tenths of the law”. This isn’t truer in any other line of work than in the repossession field. When you finance a car it’s is technically owned by the bank. So if they hire a repossession company to repossess their property that is perfectly legal. What falls in the grey area is how the repossession firm decides to take position of your vehicle. Once they’re in the driver’s seat they’ve effectively taken possession of your vehicle. If you stay in the car they will not repossess it. You’ll in essence have just as much “possession” of the car as they do. If you simply refuse to leave the car they can either waste their time trying to convince you to get our or move on to the next repossession and make some money. Who would have thought staying put can actually stop repossession.