Got a junker of a car and want to get one that actually runs right? You don’t have to have a lot of money. Even if you cannot afford a new one and no one will give you a loan you still have an option left. You could try finding some repo cars for sale.
Repo cars are vehicles that have been repossessed for a variety of reasons. Some are in very good condition while others may be in bad condition. It all depends on what condition the car was in when it was repossessed. Some cars may have been in wrecks so get your information before you buy.
The most common reason for a car to be repossessed is the simple fact that people can’t pay. When this happens the bank orders that the car be repossessed. Sometimes people don’t want to cooperate and the police have to be called in. In most cases these cars are in pretty good shape.
In other cases the cars are repossessed because the person was arrested and obviously can’t pay their bills in prison. The car is taken back from police custody. If it was involved in a high speed chase or other altercation it may have severe damage and need repairs that the bank does not want to pay for. In this case the bank sells it as is and the buyer pays for the repairs.
As you can guess the first option is more preferable to the second. No one wants to buy a car where you have to have half the thing replaced and rebuilt. On the other hand there are some people who like to rebuild cars so this may be exactly what you want. As far as cost goes the bank will try to recoup as much money as possible but it will be cheaper than a new car.
In closing finding repo cars can be easy. Just ask your local police department or bank if they are having any auctions. You can sometimes hit the jackpot here. But remember there is no warranty with a car purchased at an auction.