Buying repo auction car good idea?

[ThatRoundHeadedKid]

Hey all, I have a question, is buying a car from a repo auction a decent idea to consider?

I assumed that if people were irresponsible enough to not keep up with the payments on their cars that they weren't responsible enough to maintain the car properly or didn't have enough money to properly maintain the car since they were repoed.

If it is a decent idea to consider, and this is for my first car, where are some good sites to look at for repo auctions?

[shizznizz980]

go check with your local banks I think they sell cars that the people couldn't pay off loans on. I know that around here they do some sales like every couple of months.

[jcsaleen]

Go to one yourself trust me! My friend bought his Fd (Rx7) with 41k miles for 2500!!!!! The car is worth over 20K!! Another friend of mine bought an 02 intergra GSR 4 door with 22k miles mint for 1600 instead of the retail of 11,000! The intrgra wouldn't start so they put it as a non runner. The cops were so dumb they triggered the alarms fail safe an it shut off the car from running. All he did was cut a line an poof a perfect working like new car for 1600!

[Toksin]

I know someone who bought a car from a repo auction, went to a mate to get it resprayed - when they pulled the door covers off, they found an oz of weed. So who knows, you might get lucky

[vinnym86]

i don't know any sites, but check with your town's government offices or check your police station. I just posted on another thread about my friend's newest buy: an '84 VW Rabbit. He had to pay about $30 to attend the auction, but snagged a not-too-shabby deal for $400. he says theres some work needed, but nothing major that requires immediate attention. Makes a nice hobby car.

[ThatRoundHeadedKid]

Would the banks like Bank of America chains work in terms of local banks? lol

[beef_bourito]

another thing you can check out is the police siezing. they sell cars for really cheap because they got it in a drug bust or something and poeple don't want a car that once contained cocain. if you don't mind knowing that some messed up stuff happened in the car it's another great place to check.

[BleedDodge]

Usually people who have their vehicles reposessed will strip them of good parts and/or drive the daylights out of them shortly before they are taken away. Something to think about.

[RX-7 Steve]

Originally Posted by jcsaleen

..... My friend bought his Fd (Rx7) with 41k miles for 2500!!!!!.....

HOLY SHIT!!!!!!!!

[RickwithaTbird]

You will be taking a chance. You had the right idea. If you can't afford your car bill, you can't afford upkeep. If you can afford upkeep but not your car bill, you'll probably prefer to save that money for the bill so it doesn't get repo'd. And if you know you can't afford either, then why would you waste any money on upkeep before it gets repo'd? Just know that if you buy a repo'd car there is a chance you will have to spend the money you saved, on fixing it.

[vwracer14]

im about to get a guy i know to take me to a dealer auction.he told me the deals are sometimes better for better cars.i dont know if hes full of it but i'll give it a shot

[RX-7 Steve]

Originally Posted by RickwithaTbird

You will be taking a chance. You had the right idea. If you can't afford your car bill, you can't afford upkeep. If you can afford upkeep but not your car bill, you'll probably prefer to save that money for the bill so it doesn't get repo'd. And if you know you can't afford either, then why would you waste any money on upkeep before it gets repo'd? Just know that if you buy a repo'd car there is a chance you will have to spend the money you saved, on fixing it.

^Yeah, but there are risks buying a used car from any establishment, whether it be a dealership, private-seller, auction, or online. That doesn't mean you cannot find a good deal, even if it implies having to spend some additional dollars. That 3rd-gen RX-7 that scsaleen's buddy bought for $2500 could have had 10x the milage, fire-damage, and be completely stripped, and it would still be a bargain.

[00accord44]

I don't think you can generalize them as all bad or all good. Some cars belonged to people too broke to keep up with payments, but that doesn't necessarily mean the car is shot. I know a girl who let her car get repo'ed and it was still in very good condition, she just couldn't make payments. Then theres the dope dealers who get busted and have their assets taken by the courts. Cars included. This is especially true of the guys who still live in the projects but somehow drive the new S55 AMG... the cops notice that. Shortly that car will be up for auction.

[RickwithaTbird]

"My buddy's friend said a guy online told him about a 3rd gen rx-7 he got for 2500"....

you never know who repeats what. Stories get stretched all the time. There will be dealers at the auction who are likely to know what a good deal is, and they will bid until it is no longer that good of a deal. Finding a car like that for 2500 is UNLIKELY. Yes it's worth a shot. It definitely is. Just don't get your hopes up.

my car just got repo'd, so I speak from personal experience when I say the car has a chance of being shot. My car was shot when it got repo'd. I'm positive I'm not the only one.

[ThatRoundHeadedKid]

Your jag got repoed?