LONDON, February 28, 2012 /PRNewswire via COMTEX/ --
According to a report on BBC's 'One Show' last night (Feb 23), over £24bn is spent every year on used cars - but how much of that is on cars with a hidden history?
Getting an independent inspection is vital in ensuring that the car you are spending your hard-earned cash on is fit for purchase.
This doesn't just mean that it is roadworthy, though of course the parts need to be in good working order. If you are planning to buy any kind of used car, then it's worth bearing in mind that a car's history may have hidden pitfalls, from outstanding finance that you may be liable for, to damages through being written off.
And even if you have bought it innocently, if there is outstanding finance on the vehicle it remains the property of the finance company. Only by checking the vehicle yourself can you ensure you are covered.
As reported on the BBC 'One Show', an Experian VehicleCheck will guarantee you cover for the data uncovered in the report, and can give you the peace of mind that you have made the right purchase - even if the paperwork a dealer gives you seems to show the car is clean. It runs 26 checks and carries out searches for finance agreements.
With thousands of repossessed vehicles landing up on auction floors, buying one at an auction is certainly a means of getting a car at a bargain price. But it is not without its risks.
While you can inspect the car before an auction and check out all its paperwork, you can’t drive it or send it off for a professional check.
Plus, Consumer Protection Act (CPA) regulations allow for it to be sold with “no duty to repair”, so if the car is out of warranty, or you discover it has a problem that’s not covered by the warranty, the bargain buy could end up costing you plenty.
And be aware that while an auction may be advertised, in big letters, as a “bank repo” auction, there’s a chance that the car you’re interested in wasn’t repossessed or part of a liquidated estate - it could have come from a dealer.
Find Cheap Used Cars For Sale - Its Easy Once You Learn Where You Should Seek
Check out cheap-used-cars.w-eland.com - cheap used auction cars and find out more about them. images freeimages.co.uk
Website that list local seized or reposessed cars for sale ?
Jul 10, 2007 by simply bre | Posted in Buying & Selling
I am looking to buy a good car for cheap what they call a steal I have tried many sites and paid for them buy they all turn out to be scams as usual. Please anybody had good experience with any of these sites let me know what the website is. Or how to find those cars. I hear people say that I have to call banks and see if they have any.
Never buy a repossessed car. I've repossessed many and never found one in good condition. If people are irresponsible or unable to pay they can't afford to maintain the car. Many people just beat on it as they know they'll lose it anyway.
shelcom | Jul 10, 2007
Hi
well you can also get really good cheap cars from auctions , you will find thousands of different auction and repo cars of all kinds of models really cheap at http://www.carauctiondeals.com
Hope this helps
Frank | Jul 11, 2007
False claim: Breach of contract on automobile sale. They reposessed car in middle of night from garage.?
Aug 15, 2008 by Tami T | Posted in Buying & Selling
My parents bought a new SUV in the Dallas, Tx area about a month ago. Last week it was stolen out of the garage in the middle of the night. The police were called and it was reported as a stolen vehicle. A couple of days ago my mother called to make her first payment (not due for another 2 weeks) and found that the finance company that the dealership used had no record of her. They said that the dealership may have just been slow in sending the paperwork off to call them and see if the paperwork was in the mail. When she called the employee that took her call said that he was under orders from his boss to not talk to her and that her vehicle was not stolen that it had been repossesed for breach of contract. He would give no further info. She asked to speak to the woman who filed her financing at the dealership, and was told she no longer worked there. Mom called the police and they talked to the dealership and found out that they claimed that she was in breach of contract because she used her name and credit to purchase a vehicle for someone else. The vehicle has only been used by my parents, and fully licensed and insured in their names. The accusation is unbelievable!!! The police also told her that even if they had grounds to repo, they were still tresspassing by going in the garage. She does not have the money to hire a lawyer and does not know what actions to take. Oh, and to make matters worse, her old car that had been parked next to the new has a dent in it with the same color paint as the new one (guessing in their quick thieving in the middle of the night they damaged it). The name of the dealership is Southwest Hyudai in Dallas, Tx. Does anyone have any advice?? Know any pro bono's in Texas (they live near Dallas in Mansfield)?? Ever heard anyone having something like this happen before? Complaints against this dealership??? Thanks for any help!
You need to go to your local DMV office with all supporting documents. Contracts, sales orders, etc. You need photos of the damaged car as well
File a formal complaint with the DMV. There will be a few forms to fill out, but it is worht the time. The DMV will inspect this for you, and enforce any rules that have been violated.
As a dealer, I can tell you with 100% certainty that dealers are FAR more afraid of, and responsive to, a DMV complaint than a lawsuit. DMV has the ability to levy fines, restrict your license, audit every single deal, and even shut a dealer down if there are violations.
There is no charge to file a complaint. But I stress you MUST go in person to the DMV. Also, make sure you go to the main office. Most satellite offices do not have a professional licensing division officer on staff. So go to the main DMV office
Good luck
BTW Earl - its not slander if someone is presenting facts known first-hand. Slander has to be a malicious, false rumor.
xx_satanic_mechanic_xx | Aug 15, 2008
Good luck. I once traded in a car and got a used one. A week later the dealer asked me to come by and sign a paper they forgot. I got there and they took the keys from me and told me they could not get me financed and wanted the car back. I had the paperwork for the purchase of the car but the dealer never signed it. I called the cops, the cops told me there was nothing they could do. I left in my old car after going over and telling the salesman and the lady test driving my car to get out of it now! The cop backed me up on that part. Bottom line, if one paper is not filled out completely, they can take the car back. Getting an attorney might help but I doubt it is worth it in the end.
MIKEnJAPAN | Aug 15, 2008
trespassing is a crime, the police should have persued that with the DA. Your parents should contact the DA about the financing fraud, that is a crime as well.
You should not give names of dealers in posts, you can be sued for slander.
.
Earl s | Aug 15, 2008
Am I still liable for the balance of my car that was reposessed over ten years ago? The bank still calls.?
Feb 15, 2006 by realmccoy028 | Posted in Buying & Selling
They only call around tax time and it stopped once we asked to see paper work regarding the sale of the car. However it started up again near tax time.
Yes you would be liable, When a unit is repossessed it is usually sold at an auction, the difference between what the vechicle is sold for and what you owe on the loan is called a defeciency balance and will be your responsibility to pay. When the deal was funded the bank bacially let you borrow the money to buy the car and this is there way of getting the money back that was borrowed
dawsonshan | Feb 15, 2006
IF you signed a contract to pay for a car and didnt pay for and never declared bankruptcy then yes I would asy that you are liable. Chances are that they didn't sell that car for what you owed and that is why they still call
taustin288 | Feb 15, 2006
yes you are
timeofsim | Feb 15, 2006
Should I sale my car of have it repo'd?
Oct 23, 2008 by shay | Posted in Buying & Selling
I bought a car for someone else (huge mistake)!! They don't want the car anymore and gave it back. I can barely afford to keep it, but why should it!
Should I sell it or have it voluntarily reposessed?
If I sell it....I would probably take a $3K - $4K loss on it!!
Definitely sell it, it hurts your credit a lot less than a repossession. Also, did you talk to the company that financed your car? They might be able to help you somehow, and they'd rather do that than go to the trouble of having to repossess it from you (which costs legal fees plus getting a repo guy to go take it.) Repossession really is a last resort for them, especially if you have been paying responsibly in the past.
Tom | Oct 23, 2008
can i buy a car without a title.?
Jul 13, 2007 by cuzimtnt | Posted in Buying & Selling
there is a really nice car for sale for cheap and the owner was deported and the car was 2 b reposessed, and they never found the car and that was in 93' is their anyway that i can buy the car and legally get the title?
Sounds like a huge mess. You can buy the car, but it may lead to problems down the road. The only thing you can do is have a title search done and get a new title if it's possible. I would stay away from this ordeal if I was in your shoes.
When planning to buy a car, it is highly practical to consider repossessed cars for sale. Those who have no issues about driving a used car will find that Insurance Options For Your Mercedes BenzPreparing to Lease an Automobileall 4 news articles »
My car got repossessed since I chose to pay the rent instead of the car to keep a roof over our heads. I emphasize the word RENT, because we already LOST and more »
These credit Unions often have a “Repossessed Cars For Sale” page or will have links to where they outsource these sales to. These repos are often sold “as What to Know About Ceramic and Semi-Metallic Brake Padsall 2 news articles »
In some cases repayment plans had been predicated on earnings, employment, asset sale, or refinancing expectations that suddenly seemed unlikely. and more »
Ordinary intake filters fitted in cars in factories restrict the airflow coming in; an induction kit reduces this restriction, allowing the engine to take
