Repo Vehicles: Where to Buy Repossessed Autos and Cheap Cars
Looking For An Affordable Car?
These days, a car is no longer a luxury but pratically a necessity. It's almost impossible to have a job without one (and completely impossible to have a girlfriend without one), not to mention needing it for the demands of simple day-to-day life (e.g., grocery shopping).
For the most part, however, cars are not cheap. Still, you can find some nice bargains if you know where to look. (And, after buying, don't forget to protect your investment with a Car Warranty or Service Contract - and don't forget your Car Emergency Kit).
Used Car Dealers, Newspapers and Classifieds
As with most other big-ticket items, it's to your benefit if you can find a cheap car close to home rather than purchasing one at a distance. To that end, it makes sense to scout out your local used car dealers. Fortunately, you can do this rather easily online or with a phone call. Be wary, however: car dealers will say almost anything to get you on the lot, so when you call you can be sure that they will try to convince you that they have a car within your budget with all the features you want just sitting outside waiting for you to come claim it.
In addition, be sure to check your local newspaper as well. Also, don't forget local classifieds like Penny Saver and Nickel Saver, which often have extensive listings with respect to automobiles for sale.
(And on a side note: if you haven't seen the movie Used Cars starring Kurt Russell, I highly recommend it as one of the best comedies ever made.)
Repo Cars: Vehicles Repossessed by Banks, Credit Unions, Etc.
It will also be of benefit to you to try to find cars that have been repossessed - particularly repo cars that are now in the hands of banks, credit unions and other financial institutions. Basically, these organizations are not in the business of owning cars; they're in the business of lending money (among other things). Ergo, they try to get rid of repossessed items as soon as they can.
With that in mind, you should contact these organizations to see how they go about disposing of their repo cars. They may send them to auctions, hold their own private auction, sell them en masse to car dealers, and so on. (Speaking of car dealers, don't forget that they might have repo cars as well.)
(Poster available at AllPosters.com.)
You can also find great deals on cars at government auctions. If you're not familiar with them, government auctions are used to raise money through the sale of government property. This property may include surplus government equipment, abandoned property, seized property, and so on.
Often, if the property in question is actually private property that is being sold to satisfy a judgment or in association with a foreclosure or tax lien, the auction will be conducted through the local Sheriff's office. Under those circumstances, it is known as a "Sheriff's sale" or "Sheriff's auction." Moreover, the prices of such property are typically distressed, meaning that you can buy them for much, much less than their actual worth.
Cheap Cars Online: eBay, Craigslist and More
If it turns out that you have to go afield in order to find your dream vehicle, it goes without saying that you should search online. Moreover, eBay should probably be one of your first stopping points, as they have a large volume of cars for sale. (Of course, you'll have to place the winning bid - just make sure that you stick to whatever budget you've established if you decide to go this route.)