repossessed cars for sale?

mickdw

I hear lots of stories about people not being able to afford the big car they bought a year or so ago and that they are trying to sell them at small money to garages etc. Also are the banks actually taking cars off people in any serious numbers and if so where are they selling them?

pred racer

any of the ones that are sh1te are sold in the auctions, and the decent ones are sold direct back to the trade, all the finance companies will look for is 75% of book value, and the poor numbnuts who took out the credit will still have to pay the balance.

Kingser

As a regular you won't believe the increase of repro cars i've seen at car auctions mostly merlin motors car auction out in kildare. Mostly top end cars too well into excess of 90,000 euro.

mcirl2

Kingser,

Im in the market for a car, willing to spend 2500-3000.

Would it be worth my while going to car auctions or are the cars all sold for 5-6k+?

Would be interested to know.

Mike

Kingser

A 99 Polo went for 250eruo the other night!!

Cars mostly sold in auctions are repro or trade in dealers just want to get rid of. your money will cover you to buy nice cars all depends on your taste really.

However read all the small print as you will have to pay more than what you won the car for buyer fee, vat, and in some cases VRT. Really can't stress read everthing. Its not going to cost you anything (they will ask for a deposit) to check it out, you never know you could walk away with your new car!

ninty9er

There wouldn't be many cars in that league in line for repossession. anything that makes it to auction at that price is generally there for a reason;)

gyppo

Imo, any reposssed car that would be a potential purchase would need to be carefully considered.
If the previous owner could'nt make the repayments, its very unlikely they could keep it serviced properly.

Kingser

ninty9er wrote: »

There wouldn't be many cars in that league in line for repossession. anything that makes it to auction at that price is generally there for a reason;)

In one month 6 cars was sold for over €80,000 one hit €92,000!

NO JOKE!

Massive increase in high end cars. The recession is hitting people with deep wallets too!

ninty9er

Kingser wrote: »

In one month 6 cars was sold for over €80,000 one hit €92,000!

NO JOKE!

Massive increase in high end cars. The recession is hitting people with deep wallets too!

I was responding to the 2500-3000 question.

Kingser

ninty9er wrote: »

I was responding to the 2500-3000 question.

Sorry my bad . you are right some people just can't sell there cars in car zone etc even after people have test drive them so they jus put them through the auctions. But having said that dealers put through a trade in where they jus need it off the forecourt or need the money even if its a good car.

ninty9er

Kingser wrote: »

Sorry my bad . you are right some people just can't sell there cars in car zone etc even after people have test drive them so they jus put them through the auctions. But having said that dealers put through a trade in where they jus need it off the forecourt or need the money even if its a good car.

If it was a decent car in the first place it wouldn't make it as far as auction....a really decent car wouldn't make it as far as a valet before being snapped up, even in the current climate. That's why we have a glut of cars on our forecourts, because they're primarily ill cared for crap.

bazz26

ninty9er wrote: »

That's why we have a glut of cars on our forecourts, because they're primarily ill cared for crap.

There has always been a fair percentage of rubish sitting on forecourts so why wait till now not to buy it? There is are plenty of well looked after used cars sitting unsold too and these are not selling either.

The truth is it is harder to get credit now so people are actually looking at the cost to change in a new light for the first time and not carelessly spending what they don't have. Also dealers are giving crap trade-in allowances because they don't want them, very few people are walking in with straight cash at the moment so along with other economic factors alot of people are simply holding onto what they have.

In the last couple of weeks I have passed many forecourts with "special used cars sales" or "25% off used stock" signes yet their forecourts are still deserted of customers.

seclachi

Do you get to keep any bales of cocaine you find ?

Victor

Watch out for the driver to the end fleet cars and garda vehicles and towed vehicles that people never bothered claiming.

If you are interested in something, bring a good mechanic.

Gregor Samsa

Kingser wrote: »

The recession is hitting people with deep wallets too!

If their cars are being repossessed, then the problem was that their pockets weren't actually all that deep to begin with. Credit != wealth

sk8board

a friend was checking with their bank to get a loanf or another van for his company. They told him they wouldn't give him the money, but he could choose from a list of literally hundreds of nearly-new vans, and they would sell it for 33% of trade value. time to crack open the little ones piggy bank.

Esel

'33% of' or '33% off'?

sk8board

esel wrote: »

'33% of' or '33% off'?

33% of the trade value. If the trade val is 10k, you pay 3.3k.

Its better for the banks to get a few quid back on an unsellable van, than be giving out more loans

Wertz

Which bank was this? Going to be in the market for a van fairly soon and would be very interested in this..