If you’ve been thinking about purchasing a car repo but don’t know where to start or how to find an upcoming auction, RepoFinder is the best place to begin your search. Our free online resources make it simple to start searching right now- click on your state on the home page map, and you’ll discover numerous local banks and credit unions in your area. Click on any financial institution in your search results to see events that are on the horizon.
Benefits of Buying a Car Repo
Most repo auctions start the bidding at $100, and while the vast majority of vehicles are bid up from there, you can still get a terrific deal at an auction. The secret to getting a good deal is to be patient and stay organized throughout your search. You’ll have to put some real effort into finding auctions and attending ones where you have an interest in bidding, but the payoff will be significant if you carry through with patience as a central focus.
Inspecting every vehicle, you plan to bid on is key to getting a good deal. Paying for a mechanic to accompany you to an auction can be a valuable investment, especially if the mechanic is a friend and all it costs you is a nice meal.
Don’t Get Caught Up in the Moment
One of the biggest mistakes car shoppers make is forgetting to be patient and getting swept up in the bidding, forgetting their notes or comments they recorded when they inspected the vehicle. It’s essential that before bidding, you have a top bid price that you commit to staying under.
Invest some time in looking up the blue book value of each vehicle you plan on bidding on. Take down the VIN and research the history of each vehicle as well as to avoid purchasing a vehicle that was involved in a flood or accident.
Use Our Free Resources
Take advantage of RepoFinder’s FAQ section, blog library, and Useful Links section as you prepare a notebook and start taking down notes on upcoming auctions or events. Bookmark links such as Edmunds Car Research, Kelly Blue Book, NADA Guidelines, and JD Power Auto Reviews. The more informed you are when the bidding starts, the more likely you’ll avoid buying a vehicle that has issues and the less likely you’ll get stuck with something you don’t want.
Our primary goal is to help you find hard-to-locate auctions in your area, assist you in getting organized, and ultimately save you money on your next vehicle. It’s important to keep in mind that not every cheap car is a deal. The real value lies in paying less for a car that meets all of your needs and proves to be mechanically and structurally sound.
Purchasing a car repo can be a rewarding experience. Make sure you’re prepared for the work involved by taking the advice of experts, being patient in finding the right car, and staying under your budget when the bidding begins.