Repossessed car sale - a cheaper alternative

Repossessed car sale- a few years ago these words would have meant nothing to the vast majority of us but, in today's climate, the banks and other financial lending institutions are repossessing many cars to clear off outstanding debts that people are now unable to pay.

Repossessed cars are generally "sold as seen" and this means that they don't come with a warranty, they're quite simply taken from an address, impounded and sold on through auction. It's definitely a good idea to bring a mechanic with you to one of these auctions especially if you aren't familiar with what lies under a bonnet. You can be extremely lucky and get a fantastic car at the fraction of its retail price or you can be unfortunate and end up with a costly dud but that is the chance you take.

Many people avoid buying goods that have been repossessed for fear of reprisals but in reality this does not happen. The car is simply sold off to free up money towards a debt and there is nothing personal about it at all. If you don't buy it, someone else will and its that simple.

Car auctions that deal solely in repossessed cars occur in most major towns at least once a month and the newspapers or local radio would be a good possibility when enquiring about the venue. Generally you need to pay the full amount on the night in question, unless it states otherwise on the advertisement material, so that is something else to take into consideration.

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