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repossessed cars?

  • 14-10-2009 9:43am
    #1
    mel123
    Registered Users, Registered Users 2 Posts: 2,241 ✭✭✭


    is there a place you can pick up repossessed cars or even impounded cars cheaply, or do they go up for auction?


Comments

  • #2
    robtri
    Registered Users, Registered Users 2 Posts: 5,473 ✭✭✭robtri


    mel123 wrote: »
    is there a place you can pick up repossessed cars or even impounded cars cheaply, or do they go up for auction?

    they generally aren't that much cheaper than any other equivilant car... most go through auction houses, like Merlin Motors..


  • #3
    Saab Ed
    Closed Accounts Posts: 5,374 ✭✭✭Saab Ed


    robtri wrote: »
    most go through auction houses, like Merlin Motors..


    ...where the banks wont let them go for what they are really worth and they just end up going round and round in circles.


  • #4
    robtri
    Registered Users, Registered Users 2 Posts: 5,473 ✭✭✭robtri


    Saab Ed wrote: »
    ...where the banks wont let them go for what they are really worth and they just end up going round and round in circles.

    ha ha.... thats so true...:D


  • #5
    no1beemerfan
    Closed Accounts Posts: 1,714 ✭✭✭no1beemerfan


    Saab Ed wrote: »
    ...where the banks wont let them go for what they are really worth and they just end up going round and round in circles.

    I was in the Auction in Naas a month or two back and was watching the repossed auction.....some went cheap....eg...a '07 VW Tourag Jeep (Not Commercial) with something like 28k kilometers on it...sold for 12K euro.


  • #6
    Saab Ed
    Closed Accounts Posts: 5,374 ✭✭✭Saab Ed


    no1beemerfan wrote: »
    I was in the Auction in Naas a month or two back and was watching the repossed auction.....some went cheap....eg...a '07 VW Tourag Jeep (Not Commercial) with something like 28k kilometers on it...sold for 12K euro.


    Ah...The hammer might have fallen at that price cause nobody bid anymore but most of the stuff the bank owns doesnt actually sell.


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  • #7
    Drummerboy08
    Closed Accounts Posts: 12,102 ✭✭✭✭Drummerboy08


    Saab Ed wrote: »
    Ah...The hammer might have fallen at that price cause nobody bid anymore but most of the stuff the bank owns doesnt actually sell.


    All of it doesnt sell!

    You'd want to have a big pair of balls to spend 20k plus on a car that comes with no warranty, no history, the risk of the former owner showing up and burning it out, and finally - this is the biggy - no comeback.


  • #8
    tooler7
    Registered Users, Registered Users 2 Posts: 105 ✭✭tooler7


    you can go into a branch and they will give you a list


  • #9
    no1beemerfan
    Closed Accounts Posts: 1,714 ✭✭✭no1beemerfan


    Drummerboy08 wrote: »
    All of it doesnt sell!

    You'd want to have a big pair of balls to spend 20k plus on a car that comes with no warranty, no history, the risk of the former owner showing up and burning it out, and finally - this is the biggy - no comeback.

    Couldn't agree more. I went for a look-see and thats all I'd ever do! Its too much of a risk imo.


  • #10
    mel123
    Registered Users, Registered Users 2 Posts: 2,241 ✭✭✭mel123


    thanks for the advice everyone...forgot about no warranty etc etc.


  • #11
    JimmyCrackCorn!
    Closed Accounts Posts: 752 ✭✭✭JimmyCrackCorn!


    Drummerboy08 wrote: »
    All of it doesnt sell!

    You'd want to have a big pair of balls to spend 20k plus on a car that comes with no warranty, no history, the risk of the former owner showing up and burning it out, and finally - this is the biggy - no comeback.

    Your correct.
    That is why they are aimed at trade not your average buyer. The prices reflect that.

    Trade in general will have a fair idea of what shape the car is in. If the car is beyond economical repair it can get dumped back into auction.

    Also its allot cheaper for trade to repair a vehicle than it is joe public.

    As for having big balls to buy a 20k car at auction with no warranty, would you buy the same car privately if you had someone to cry to?

    At the end of the day when you buy a car from a dealership you PAY for a warranty its an insurance scheme.


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  • #12
    Harcrid
    Registered Users, Registered Users 2 Posts: 1,310 ✭✭✭Harcrid


    JimmyCrackCorn! wrote: »


    As for having big balls to buy a 20k car at auction with no warranty, would you buy the same car privately if you had someone to cry to?

    I would be a lot happier buying a car with no warranty if I could at least check it over thoroughly before I bought it, which you can't do at an auction.


  • #13
    Drummerboy08
    Closed Accounts Posts: 12,102 ✭✭✭✭Drummerboy08


    JimmyCrackCorn! wrote: »
    Your correct.
    That is why they are aimed at trade not your average buyer. The prices reflect that.

    I know. I'm in the trade. And I'll say this - the cars at auction are alot more expensive when compared to a similar car I would sell to the trade outside the office.
    Trade in general will have a fair idea of what shape the car is in. If the car is beyond economical repair it can get dumped back into auction.

    Its rare to see the trade buy something that heavy at an auction. Most prefer to look over the car properly before they commit. Thats why Leaseplan, Merrion, Ourselves, and every other large dealership sell trade to trade from the forecourt. It sells quicker.
    Also its allot cheaper for trade to repair a vehicle than it is joe public.

    Yes, but when you buy a car for 20k, and all of a sudden it needs 2k worth of work to retail it, its not that cheap anymore.
    As for having big balls to buy a 20k car at auction with no warranty, would you buy the same car privately if you had someone to cry to?

    No. I just wouldnt buy a car for that kinda money from a private individual.

    At the end of the day when you buy a car from a dealership you PAY for a warranty its an insurance scheme.


  • #14
    Blazer
    Registered Users, Registered Users 2 Posts: 17,473 ✭✭✭✭Blazer


    Mate of mine bought 04 VW passat 1.6 for €3400 at Merlin's recently.
    Car was in great shape with no problems...


  • #15
    Drummerboy08
    Closed Accounts Posts: 12,102 ✭✭✭✭Drummerboy08


    Berkut wrote: »
    Mate of mine bought 04 VW passat 1.6 for €3400 at Merlin's recently.
    Car was in great shape with no problems...


    Stuff like that does sell out there. Its the more expensive, more modern repo stuff that doesnt move at all.


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