What happens to cars after they have been repossessed?

What happens to cars after they have been repossessed?
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1 Answer

Answer :

They get resold as used cars to make some of the money back.
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Related questions

What do they do with repossessed cars ?

Description : What do they do with repossessed cars ?

Last Answer : They check them out and resell them after that for a cheap price.

How do repossessed cars affect your credit rating?

Description : How do repossessed cars affect your credit rating?

Last Answer : A car reposession will leave a major black spot on your credit rating for 7 years.

How can I buy Repossessed Cars from bank or title lender?

Description : How can I buy Repossessed Cars from bank or title lender?

Last Answer : These entities regularly auction off repossessed cars. Places and times vary by bank and region, so call the banks in your area to get started.

Where can I find cheap repossessed Cars?

Description : Where can I find cheap repossessed Cars?

Last Answer : Your local car auction can provide you with a great selection of repossessed cars and trucks. You can contact banks and lending istituions for a list of cars tey have for sale most cars are sold at auction.

Where online can I go to find repossessed cars for sale?

Description : Where online can I go to find repossessed cars for sale?

Last Answer : Autobidmaster.com is a site where you can bid on those cars that have been repossessed. It offers a wide range of of models and locations of where the vehicles are being listed.

If you believe in karma, what are your thoughts on acquiring a house or a vehicle, as examples, that have been repossessed/foreclosed?

Description : If you believe in karma, what are your thoughts on acquiring a house or a vehicle, as examples, that have been repossessed/foreclosed?

Last Answer : I would still buy it. You did not take away the house from them, so karma is not involved. The house, has been taken away, regardless of whether you buy it or not. It might sound cold hearted, but if ... the case, and the deal is good and the house looks like a good investment, i say go for it !

Can my car be repossessed if it's in my garage?

Description : Can my car be repossessed if it's in my garage?

Last Answer : Totally fine. The car needs to visible to repossess. They can’t just break in thinking it might be there.

If my car gets repossessed, how long until my credit will be in good standing?

Description : If my car gets repossessed, how long until my credit will be in good standing?

Last Answer : You're better off calling the lender and seeing if there is anything you can do. They don't want to repossess your car any more than you want to have it repossessed, but if you simply stop making payments ... can be repaired, but it's a lot less work to just avoid damaging it in the first place.

A Repossessed Car Can Be Your Dream Deal?

Description : A Repossessed Car Can Be Your Dream Deal?

Last Answer : Some of the best cars to buy are repossessed cars. If you're inthe market for a used car, someone else's financial misfortunecould turn into a spectacular deal for you. Most auto loancompanies ... stolen. The fact is that most repossessed cars weredriven and used responsibly and reliably. If you w

Where can I find repossessed car auctions in Florida?

Description : Where can I find repossessed car auctions in Florida?

Last Answer : Visit www.gov-auctions.org and search for auctions in any zp code in the state of Florida. You can also contact the site for further information

Can a truck that is disassembled for repairs be repossessed in Arkansas?

Description : Can a truck that is disassembled for repairs be repossessed in Arkansas?

Last Answer : If the company has grounds for repossessing it, yes. Just because you're not using it doesn't mean you don't pay for it.

Why do you have to wait for a car's engine to warm up before you start driving? What happens if you don't wait and you start driving right away?

Description : Why do you have to wait for a car's engine to warm up before you start driving? What happens if you don't wait and you start driving right away?

Last Answer : I live in the mountains and I never warm up my car. I just start driving. Something bad is probably gonna happen to it in the long-run though.