Repossessed Cars

Overview - Buying repossessed items

The whole repo thing seemed like a "scam" to us for the longest time.

Why?

Because for the most part, much of what you'll find are scams --or scam-like.

Here's what I mean:

• many places offer to tell you how to do it but only give you a long list of phone numbers to call. Then, you have to send money to get those listings. In many cases, those are not quality anyway.
  
  
• secondarily, we found that (less of a problem today, we think) many of the early auctions were not so closely monitored and the best (truly bargain) items would go to "insiders" or buddies of the auction houses.

This is why it was never really possible to get a working Ferrari for 100 bucks unless you really knew some people and were in the biz for a long time. Now there are checks and balances in place that go along way towards making it more fair.

The drawback to making it fair is that this also means there are fewer absolute steals out there, but there is still quite a bit of potential left -especially until auctions catch on mainstream.

For instance, I have a business associate who travels around to various auction houses and buys used stuff and then unloads items on ebay for HUGE profits. I was so irked one time recently because I paid $5,500 for an incredible Cisco Router (piece of high-tech networking equipment), and this guy had purchased 50 in bulk from an auction house.

The auction house had purchased them from a bankrupt ISP. His cost?

About $1,000 each! Now, $50,000 is a lot for most of us, but he sold those on ebay in less than a month for a $100,000+ profit!! I could not get a refund on my purchase from my vendor, so I lost out on taking advantage of his deal. But, he finds deals like this all the time, and even though $50,000 is a bit steep; most people work their way up that ladder over time.

On the other side, we do pretty well with repos, and the only downside there is the work involved in traveling to check out the vehicles and make sure they are in the condition expected. One of our prize deals was a 1995 Acura NSX with only 16,000 miles on it! It was in pristine mint condition and we got it for a sweet deal. ;)

You can probably tell that the NSX is one of my top, dream cars :D

The easiest way to locate these types of auctions (that we know of) has to be Cheap Car Finder. Before, we only recommended them for repossessed cards, but they now offer a lot more.

You can visit their site or keep reading below for a review on the CheapCarFinder service.

Visit the Cheap Car Finder Website (skip review)

"Cheap Car Finder" Review

Finding repossessed cars and car auctions can be a bit tricky. There are several services that promise to tell you "how", but many are scams. There are also low-cost government programs you might find. The key, however, is that CheapCarFinder puts it all in one place for you and it's a very low cost --even lower than some of the government resources.

They can do this because they do all the work and then leverage their costs by reselling it to a good many of their customers all at once. They offer excellent customer service, can help you get started, and they also offer more than just help in locating great car bargains (read on).

Due to the growing demand for great buys on car, houses, jewelry, boats, etc; Cheap Car Finder has added several new categories to their offerings. They now have listings of seized real estate, seized property, seized boats, and much more!

Many people tend to be skeptical about these auctions, and that is a good thing. Those that get in before the masses will be able to find some great deals on some great items.

Many of Cheap Car Finders competitors charge outrageous prices or offer little in comparison. Unfortunately, we know this from experience. So, the full year of access to CheapCarFinder's system is well worth it --in our humble opinion ;)

Visit the Cheap Car Finder Website