Comments on: Should I buy a car which is categorized as a finance repossession?

By: yogiraj

yogiraj — Fri, 15 Jan 2010 23:33:57 +0000

Normally there is dispute and a court verdict is pending.So this means that the car will not be transferred in your name till the title is cleared.
So it is best to steer away from such cars in order to avoid hassles in future. yogiraj

By: EvelynThe ModifiedDog.

EvelynThe ModifiedDog. — Tue, 12 Jan 2010 12:36:10 +0000

Apart from the finace aspect of this question, I’d be suspicious of any car which has been the subject of a repo order. If the owner hasn’t hed the money to pay for it, how well do you think it has been serviced? And how much care do you think said owner has taken with the car knowing it’s going to be repossessed?
I’d leave it, there are thousands of used cars out there. EvelynThe ModifiedDog.

By: Fellside13

Fellside13 — Sat, 09 Jan 2010 06:16:58 +0000

If the finance company have reposessed it they will want to sell it

1. As quickly as possible

2. At a price which covers costs.(They are not interested in making a profit)

Provided you get something in writing showing that there is no continuing finance on the vehicle you should get it at a good price. Fellside13

By: ken613uk

ken613uk — Wed, 06 Jan 2010 08:29:49 +0000

if the car has been repossessed because the previous owner couldn’t keep up with the payments then they also probably couldn’t keep up with the servicing so I would be very wary ken613uk

By: fophuntress

fophuntress — Sun, 03 Jan 2010 06:52:16 +0000

no, it’s real risky and dangerous no matter what fophuntress

By: jason c

jason c — Sat, 02 Jan 2010 02:45:12 +0000

I would contact the finance company direct and ask them if they are going to clear the HP agreement against the car. If they are not going to do this, don’t touch the car. If they say they intend to do this ask them to email you a copy of th clearance certificate.
Ja. jason c

By: esmerelda v

esmerelda v — Wed, 30 Dec 2009 11:33:23 +0000

Make damn sure the finance has been cleared. I cannot see any reason why the quality of the vehicle would be affected by it being a repo vehicle. esmerelda v

By: peterthegreat

peterthegreat — Sun, 27 Dec 2009 21:00:25 +0000

If there is an existing finance on the car, the dealer should not be selling it. The finance should have been cleared up by the repo and the car should have a clean title now.

There’s nothing wrong with buying a repo. It’s like any other used car. Some uninformed people might advise against it because they think such cars have been abused by the owners, knowing that they are going to lose the car. This is rarely true. The repo usually comes on quickly, in a matter of a couple of months, so there is little time to abuse the car. It wouldn’t be smart anyway, because the car would sell for less at auction, and they would owe a larger balance on their loan after the repo. peterthegreat

By: diablo.x

diablo.x — Thu, 24 Dec 2009 09:45:18 +0000

simple answer dont even think about it plenty of cheap deals out there anyway diablo.x