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Repo Cars in Seattle, WA

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How Much Can You Save Buying a Repo? Find Out!

In Seattle, WA most bank repo cars are sold in auctions or on the bank’s website (especially smaller credit unions as the larger banks like to wholesale the cars.

Just make sure you know what your target repo is worth. That’s where you start when you’re looking for a good deal. Before you ever start bidding, have an approximate idea of the value of the bank repo. You might use one of the guide books that are available: NADA, for example, or the Kelley Blue Book. Should you use NADA, keep in mind you are buying at private party value.

CHEAP CARS in SEATTLE:

Repo Cars in Seattle, WA, 5.0 out of 5 based on 1 rating
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{ 5 reviews… read them below or add one }

Jack April 2, 2010 at 9:17 am

This is a great list and good advise for repo cars in Seattle. You can also check out https://www.youracu.org/loans/vehicle/forsale.php

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pushy April 2, 2010 at 3:23 pm

The first thing people associate with buying a repossessed car is getting a low price. When repossessed vehicles are purchased directly from the Bank or C.U. there is no commission, fee, hidden cost, auction registration charge, etc. These vehicles are sold only to cover a loss. In no circumstance does the Bank or C.U. net a profit from the sale. These orphaned vehicles are typically sold at a loss and if there is residual equity from the sale it is returned to the prior owner. The lenders DO NOT want these vehicles and they are priced accordingly to sell quick.

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Jordan April 8, 2010 at 1:42 pm

When you go looking for repo cars in seattle, you best bet is to check out the local credit unions too!

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Jasper April 8, 2010 at 2:53 pm

Visit with the lenders/banks who might have a “repo” file of car loans that have defaulted. They’ll tell you how much they’re willing to sell a car for at that point, and are usually willing to deal. Simply go to a bank/credit union/finance co and ask to speak with the person in charge of their “repo file”. Some places will even have a daily sheet listing the cars they’ve got available and the asked price.

Alternatively, get your dealer license … which can have a lot of expense and insurance/bonding/location requirements … and go to the wholesale car auctions where these cars may trade. Of course, if you’re only seeking to buy a single car for yourself, this would be a prohibitive expense for the purchase, so do this only if you’re looking to go into the business of actively trading cars.

Do keep in mind that when you’re buying these cars, you’re not buying from a car dealership with all the support and warranty that they provide. You’re strictly buying a piece of merchandise from a lender, which may or may not be in good condition or roadworthy.

I had a “dealer license holder” approach me once with a scheme to use my excess parking lot space at my repair shop to “retail” a number of repo’d cars that he’d arranged with a local bank to dispose of. Foolishly, I gave him the OK to set up operations, and the next day I had 45 cars in my parking lot. Not one of them was presentable or saleable merchandise … all were “rats” that folks had badly abused, wrecked, or just turned to junk before allowing the bank to “repo” their car. It took another couple phone calls to get the fellow to have his drivers remove all the cars from my place. Plus, there were some concerns about folks coming down to my place of business and getting abusive about “their” car being on my premises … I didn’t need the hassle for my main business. But you could have bought some cars very very cheaply during that episode …..

Read more: http://www.city-data.com/forum/automotive/177999-how-buy-repo-cars.html

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Poetry September 24, 2012 at 3:26 pm

Great points altogether, you just gained a brand new reader. What would you suggest about your publish that you just made a few days ago? Any positive?

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