Where to go to purchase bank-repo vehicles

[jodhas]

First thing I did was Google for it and came up with bunch of sites that charge money that generates list of repo'ed vehicles nearby.

Well, first of all, I don't want to pay $$$ and find out that there are only one or two choices.
Second of all, since there are so many, I don't know which to choose from. I mean, is there a central database of some sort?

So anyhow, if you guys have know-hows about purchasing bank-repo'ed cars let me know.

Oh, BTW, a close family member owns a body shop and a mechanic shop so I think I'll take him with me to the auction. So I although there is a huge risk associated with buying these vehicles, I think I have a good chance at finding a good car.

Thanks!

 

[Scouzer]

Read the paper for auctions.

 

[QueBert]

Originally posted by: jodhas
First thing I did was Google for it and came up with bunch of sites that charge money that generates list of repo'ed vehicles nearby.

Well, first of all, I don't want to pay $$$ and find out that there are only one or two choices.
Second of all, since there are so many, I don't know which to choose from. I mean, is there a central database of some sort?

So anyhow, if you guys have know-hows about purchasing bank-repo'ed cars let me know.

Oh, BTW, a close family member owns a body shop and a mechanic shop so I think I'll take him with me to the auction. So I although there is a huge risk associated with buying these vehicles, I think I have a good chance at finding a good car.

Thanks!

I do computer work for a repo place out here, I couldn't give you an exact % but a lot of the cars they repo are in awesome condition. Last time I was there, they had an Escilade that looked brand new - the owner wasn't gonna get it back. I'm sure it ended up going for a lot at the auction but still much cheaper than a new, or even used one in the paper.

I see tons of nice cars every time I'm there. Now some of the cars at auctions will come from Tow Yards and be in not so good shape

 

[Old Hippie]

My Dad works P/T for one of these repo places.

There's no central data base. You'll need to find a local auction and ask what days the public are allowed to bid. Call your local banks and ask them who does their repos.

Many times these are "dealer only" auctions.

Our local repo joint puts out a vehicle list @ 5 days before the auction.

By the time they get to the auction, most are bank owned and they determne if your "winning bid" will cover their cost.

You can look and start the vehicles, but not drive them.

Vehicle conditions range from near-showroom to trash.

Some of the larger auctions have 5 or more lanes going at the same time.

You should go as a spectator a coupla of times, just to get the "feel" of it, before taking the plunge.