how to find repo cars? Auto auctions?

[snoozer]

I have to imagine that many people are having the cars repoed (like houses).... do banks sell them like houses, or do you have to go to those auto auctions? I would think you could get some good deals on cars, or no? :shrug:

I looked at a local auction site, but it just shows pics of the cars and the mileage, not much more details. How do you find details out about the car - like car history, if it has been in an accident, etc

 

[MadJack]

you need the VIN number and you can run a check online to find out everything about the vehicle.. i forget but it's like $10 for 1 check and $25 for unlimited for a month. something like that.

i don't think you can buy cars at the local auctions without a dealers permit or some shit but i could be wrong.

lewehands will know all the details.

(you better know your cars because you're buying "as is")

 

[hedgehog]

When my company repossesses cars we sale them at auction or to a local wholesale dealer depending on where they are in the country, you must have a dealer license to enter the auction.

 

[countinguy]

Call ur local impound lots, every one of them has a pubic auction somewhere to get rid of their cars, and they are publc auctions, not dealer auctions.

Repos go thru dealer auctions, the guy I work with has his buddy buy the car back, say like the customer owed 5k on the car, he has his buddy buy it back for 2k and sues the customer for the difference and he gives his a buddy a hundo for buying it back.

As far as history on cars, carfax.com $25 for one time, and I think 35 bucks for a monthly unlimited rate, there is other sites that offer the same in cheaper, just have to googl it.

Like Jack said Just be careful what ur are buying everything is as-is and no matter how good u think it is something always has to be fixed. Have a good mechanic who work cheap. They other thing i do at these auctions, carry an air compressor, oil, and antifreeze w/u, u always need it and jumper cables.

GL w/the venture I have a lot of fun at these auctions. .

 

[vinnie]

The Repo Man Is Gonna Miss Bush :sadwave:

 

[Jamaica1997]

All of the vehicles that I repo go to a local auction here in OKC.

It is a dealer only auction and you must a dealer's license to enter.

However, like above you can go to a local impound yard and buy at their sales which usually happen about once a month.

Word to the wise, they usually only have a very limited selection of nice cars and most of them are pretty crappy because the owner did not want to pick them up. The nice ones are usually picked up by the owner or the lienholder when there is a lien on the vehicle.

I can't count the number of times that the vehicle I am looking for ends up in auction because of:

1. Improper tags
2. No Insurance
3. Involved in crime
4. or a lot of time WRECKED

That is when is sucks because they usually didn't have insurance and the lienholder doesn't want to get them out because it is not worth it.

Hope this helps and yes every once in a while a good deal comes along and people are not paying attention.

Right now my business is booming. :toast:

Putting debtors back on their feet, ONE repo at a time

Leland