Repossessed or end of lease or Great deals
Discussion
Nickbrapp said:
They either go into auction with BCA or back into the dealer network
Auctions are rarely open to the public,
Also you won’t get a good deal as they will want the book value for the car so if it’s been repossessed early it’s worth more
Not totally accurate. The lenders generally auction reposed cars, this will be via multiple auction houses as it shows the asset achieved market value. Auctions are rarely open to the public,
Also you won’t get a good deal as they will want the book value for the car so if it’s been repossessed early it’s worth more
Auctions were historically open to the public, it is only since late March you need to be in the trade to bid, more because private buyers will treat it like eBay and wings if the condition is not right or try and bump paying. Some funders also request that bidders need to be a certain trade card holder to access an auction.
Cars at the end of a finance agreement will often get settled if their is consumer equity rather than returned to the funder. These cars can go anywhere, likewise finance companies can offer their end of contract cars via lots of closed trade only sales, SOR to online retailers etc.
This popped up near me not so long ago, sounds like it does what it says on the tin.
Not sure what the prices are like compared with more regular dealers or private purchases.
https://www.repossessions-uk.com/
Not sure what the prices are like compared with more regular dealers or private purchases.
https://www.repossessions-uk.com/
Edited by Don Phil on Saturday 2nd January 21:21
Don Phil said:
This popped up near me not so long ago, sounds like it doesn't what it says on the tin.
Not sure what the prices are like compared with more regular dealers or private purchases.
https://www.repossessions-uk.com/
https://www.repossessions-uk.com/vehicles/details/2003-lotus-elise-mk2-2001-on-type-49-16v/598Not sure what the prices are like compared with more regular dealers or private purchases.
https://www.repossessions-uk.com/
How does a car like that end up being repossessed? Honda swapped Elise aren't exactly common or new enough to be on PCP.
Owned by Synetiq who are a large vehicle breakers and salvage company. Have been around a few years, selling on trade terms so no warranty.
Advertising as a repo could make it sound better than something else but who really goes looking for repossessed cars as they tend to be less well looked after and would put some buyers off if they new the truth, like ex rentals.
Advertising as a repo could make it sound better than something else but who really goes looking for repossessed cars as they tend to be less well looked after and would put some buyers off if they new the truth, like ex rentals.
WonkeyDonkey said:
https://www.repossessions-uk.com/vehicles/details/...
How does a car like that end up being repossessed? Honda swapped Elise aren't exactly common or new enough to be on PCP.
Says 'massive history file' - wouldn't expect that on a reposssion. Maybe it came from a garage that went bust?How does a car like that end up being repossessed? Honda swapped Elise aren't exactly common or new enough to be on PCP.
kb900 said:
Thanks all for comments
I just checked Porsche UK has increased price of a Macan by at least 10%. I cant believe they are selling so many cars that they can afford to increase the price so much. Even after Brexit
because everyone looks at monthly price..I just checked Porsche UK has increased price of a Macan by at least 10%. I cant believe they are selling so many cars that they can afford to increase the price so much. Even after Brexit
not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
grudas said:
because everyone looks at monthly price..
not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
I dont think that is the right way to buy a car....(monthly repayment) just buy a second hand car for cash. Especially with 0% being paid on savings.not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
Monthly payment might be ok if you have a job but, what happens if you lose it?
kb900 said:
grudas said:
because everyone looks at monthly price..
not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
I dont think that is the right way to buy a car....(monthly repayment) just buy a second hand car for cash. Especially with 0% being paid on savings.not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
Monthly payment might be ok if you have a job but, what happens if you lose it?
kb900 said:
grudas said:
because everyone looks at monthly price..
not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
I dont think that is the right way to buy a car....(monthly repayment) just buy a second hand car for cash. Especially with 0% being paid on savings.not many buy a 50k+ car cash/full sum.
very rare actually.
even people with money often finance at low apr as money can be put elsewhere and earn more.
Monthly payment might be ok if you have a job but, what happens if you lose it?
Not many people have access to that kind of cash, therefore the need to finance it becomes greater.
It's a similar concept to buying a house. Not many people have 200 grand lying around, so they finance it through a mortgage.
The difference of course is that, in recent years, houses don't depreciate.
As for payments being OK unless you lose your job, well that applies to everything - including your mortgage!
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