Jedi54

iTrader: (7)

For any of you guys looking for a winter beater or possibly just a 2nd car, this might be the route to go.
I'm not sure if you'll find many RX-8's out there but who knows.

I've attached the article below, take a quick read: that's a LOT of cars!!!

laythor

My buddy owns a repo yard and he can't hire enough drivers to pick up all the cars on his lists.

JRichter

I used to see auctions all the time on repo's near where I lived in Texas. Some of these cars would sell for next to nothing and though most weren't anything I was interested in, I always had my eye out form some dirt cheap Japanese 80/90's sports cars to tinker with.

Jedi54

iTrader: (7)

I might need to check out some of the local auctions. Always thought it would be fun to puck up a late 90's SL500.

lesper4

iTrader: (3)

i saw that same / different article on yahoo today. i ought to swing around the yard over by me for ***** and giggles.

Easy_E1

iTrader: (2)

Can I find one of these on the list?

Jedi54

iTrader: (7)

Nope, I bought the last one.

Clavius

Mind you Jedi is the one signing the papers to repo those cars lmfao

Jedi54

iTrader: (7)

Jedi = Repo King!
GREAT, now the secret is out...

Clav: did you find that property you were looking for? Sorry I couldn't be of more assitance. (PM me if you want, don't want to hijack my own thread)

pfloydss

This is how I got my 8 last summer.

I had noticed the 8 about 2 years ago and thought it was a cool looking car but didn't give it to much thought as the nearest dealer is 200 miles away. A little over a year ago I test drove one at a ford dealer and it was kinda funny. The guy had no idea what it was about, he told me it had a big V6 in it but got 30+ MPG bla bla bla. They wanted to much for me($25000.00) as I just bought the wife a brand new car(05 Malibu maxx) good car. I just wanted to test drive it knowing I wasn't going to buy it.
Fast forward to August 12th 2007.......
I'm driving by the same dealership and they had another one in a diff color........ Still wanted way too much for it. I keep driving.
I am stopped at a red light and see a maroon one at the credit union and turn around to check it out. Turns out it just got repossessed a few days earlier, they had it up for bid, and they had low book marked at $15400.00. Well I did my own numbers on line and found out it was worth 17500.00 for average trade in or 20000.00 retail. The wife tells me to go ahead and bid 15000.00 and see what happens. They kept telling me it was too low for what they needed out of it and wanted to wait longer for more offers. I pestered them all week long telling them that they were going to get there money from the guy sooner or later (probably later) and just let me take it off there hands so I could buy it before the weekend. Later that day Aug 17th she was mine.
The funny thing about it is it is the one that I test drove over a year ago that they wanted the 25000.00..... Nothing like saving 10,000 just for waiting it out. The guy only put 6000 miles on it over the year he had it.
It has 30000 miles on it now and I have put on 2000 miles on it in the 3 weeks Ive had it.
In the shop now for some minor warranty work that I wanted to have taken care of before the bumper to bumper is over with but am satisfied so far and cant wait to get it back next week.

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Last edited by pfloydss : 02-23-2008 at 06:05 PM.

Design1stCode2nd

So how do you find out about repo cars? I'm assuming some people are getting into BMWs and such and getting in over their heads. If I could get an M3 or something for a good price I'd be interested.

Also my mother is in the market for a used car.

Jedi54

iTrader: (7)

pfloydss: that's an awesome story!! Congrats on getting one HELL of a deal and joining the club.

design: check your local paper for repo auctions or try checking your yellow pages. Should be lots of good stuff out there

pfloydss

Call up your local banks and credit Union and ask if the have any. They want there money and try to sell them right away and usually finance them for you. Another quick tip is to ask them what there rate is and ask to use the phone and call your own bank and ask them what the going finance rate is then say thank you and hang up. Then you tell the place your at that you can get it a percent lower at your own bank and ask if they can match it. It works for me most of the time.

pfloydss

Has anyone found an 8 at a repo lot or bank other than me?

YaXMaNGTO

I need a beater in case I want to go serious on modding the Goat. A repo could be the ticket...

tajabaho1

yea, my uncle sells cars and he says you can basically buy alot of great cars for great deals at auctions these days cus of repo

he just bough an 04 Porsche carerraS convertible for like 30k!!! it has 10k miles on it and no accidents

so gg

Jedi54

iTrader: (7)

omg Taj, that's one hell of a deal! sooooo tempting.....

ivory8

my grandpa goes to the dealer auctions. now THAT is where you can make some of the best deals around. saw a 93 miata go for little over 500 bucks. perfect project car!

Razz1

I know of a car in Newport Coast, Ca that we ca repo.


Mu ha ha................

Design1stCode2nd

Only thing I've found on the web are websites that want you to pay X amount of $$ for access to their listings. If I could get a second car cheap or a much better car for cheap I'd be interested.

yale02

iTrader: (16)

That is a awesome idea!

yale02

iTrader: (16)

I just realized my brother's speed3 was a repo. He got a sweet deal on that!

pfloydss

Just call the banks and credit unions. They want to get there money and are willing to let them go cheaper than retail to get most their money out of them and then the person who forfeited their load has to pay the balance so the bank never really looses any money. You make a bid or offer and all they can say is no if its to low. I repeat if you are looking to buy a car try calling the banks first and just ask if they have any repos'. They usually do.