Would you buy a car that had been repossessed?

Elkins45

Elkins45

Joined
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Location
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If you were interested in a vehicle but a Carfax reported a repossession, would that disqualify the car for you? Would it matter how long it had been owned by that person before taken back?

I figure someone unable or unwilling to keep up payments probably didn’t keep up maintenance either. On the other hand if they only owned it a few months and didn’t put on a lot of miles then they might not have had time to do too much damage.
 
Elkins45 said:
If you were interested in a vehicle but a Carfax reported a repossession, would that disqualify the car for you? Would it matter how long it had been owned by that person before taken back?

I figure someone unable or unwilling to keep up payments probably didn’t keep up maintenance either. On the other hand if they only owned it a few months and didn’t put on a lot of miles then they might not have had time to do too much damage.
Click to expand...
I would have those concerns, but the particulars are important/deal breakers, i.e., how long did they own it before repo?
 
If it had low miles and I was able to inspect underneath it wouldn't be an issue.

It's funny-the trend on this thread is "no-I wouldn't buy a repossession. Yet a beater with a half a dozen (or more) owners is OK.....
 
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You really don't know how anyone treats anything. On another board I frequent someone bragged about buying a new car, driving it like he stole it for 18 months, then traded it in. Of course, who would know, looks like a nice one owner on carfax - dealer service.

Bad things can happen to good people. Inspect it like any other vehicle then decide.
 
If there were no title issues repossession would not automatically kill it for me.

We had a Chevy Lumina in the family for 14 years that was a recovered stolen that had been missing long enough for insurance to pay out on. One of the best car purchases I’ve ever made.
 
My 2000 GMC Sierra SLT was a repo. I bought it in 2004 with 38,000 miles on it for $15,000. One of the best, most reliable trucks that I owned. This truck started my trend of owning bright red GMC Sierras.

When I looked at it on the dealer's lot, it still had "REPO" written on the windshield from the auction, in yellow paint pen. Bought it from a small town, used vehicle only dealer.

1704057142678.png
 
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Elkins45 said:
If you were interested in a vehicle but a Carfax reported a repossession, would that disqualify the car for you? Would it matter how long it had been owned by that person before taken back?

I figure someone unable or unwilling to keep up payments probably didn’t keep up maintenance either. On the other hand if they only owned it a few months and didn’t put on a lot of miles then they might not have had time to do too much damage.
Click to expand...
Absolutely disqualified! In my many years in the car business, the worst used vehicles that I came across were repossessions, not all of them, but enough of them that they qualify as a major crap shoot IMO. WAY worse than rentals, at least rentals are maintained, and most people are afraid to beat on a rental because they will get stuck with the bill if they brake it. If someone isn't going to pay for their vehicle, they certainly aren't going to take care of it. Also, some people will beat the tar out of it if they know that it is about to be repossessed.
 
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As with anything else used you look at, repo cars run the gamut from quite nice to seriously trashed in a short amount of time and miles.
Even a seriously trashed one might be a deal for someone with the willingness to put some sweat equity into it since it'll be priced accordingly at auction.
Not maintained? Driven hard? You see the same thing with cars on three year leases. After all, you hear a lot of it ain't mine and if it ain't warranty and it ain't included I ain't paying for it.
 
Twice.

1999 Bonneville for BIL, got it from a dealer with 150k, motor blew at 190k. Didn't know it was a repo until I handed money over and got the title with "affadavit of reposession" stapled to it. If I had financed, or bought from an in-state dealer, I wouldn't have known as the dealer would have processed the title for me. A repo counts as a "clean" title.

Sister's 2003 Hyundai Accent, 53k. Drove it down to Texas, she got it up to 180k and blew the motor.
 
Here is a thread on a repo I purchased.

My lesson learned- the quality of the vehicle may be more important than the fact the car was repoed.

What would you take (1) a one owner well maintained 2005 Chevy Trailerblazer that lived its life in Buffalo, NY with 150k miles, or (2) a 2005 Toyota Forerunner that was repoed, with 100k miles and lived its entire life in Tucson, AZ.

Here is a repo story- for note after all the hassle- this SUV has been flawless and trouble free for the past 18 months.

Another Salvage Auction thread- this time a clean titled (repo) 2004 Lincoln Navigator

Won at auction earlier today a clean titled 2004 2WD Lincoln Navigator, 141k miles. Two owners, was repossession reference a vehicle title loan (Titlemax). The Navigator just arrived at IAAI a few days ago. Not much time for people to find it, that at least is my guess. Paid $1650, with fees...
bobistheoilguy.com
 
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