Cheap repo'ed cars - the "too good to be true" rule?

[Reardy Mister]

Im referring specifically to http://cars-salesltd.com

Sure, there's no warranty, but you buy one for many of these cars easy enough. So wheres the catch? Has anyone used them before? Surely if they were that good, everyone would buy from them?



ETA: Try that.

Edited by Reardy Mister on Monday 12th March 00:38

[RWD cossie wil]

Link does not work?

[muppets_mate]

Link opens up the AutoTrader home page?

[RWD cossie wil]

Linking fail

[Baryonyx]

There was a place near me used to sell repossessed cars. I was never that keen on the idea of buying one.

On one hand, you knew it hadn't been part-ex or sold to a trader because it was fked and the owner wanted rid of it. But then you must consider that it was often the owner's pride and joy, hence why it was still in their possession when the bailiffs came! And to that end, the old owner may want it back, having likely been upset to see it go. Easy enough to find out where it went too...!

There were some decent cars coming through that trader's hands, though as you say, there were no dealer facilities to speak of and they were sold without a fresh MOT or any warranty, because the company selling the cars was, I believe, a debt collection agency rather than a motor trader. I think a lot of the tat they seized was auctioned and most of the cars they got hold of were interesting in one way or another. As I mentioned, there were a few decent cars repossessed, including old M3's, some Ford Cosworth stuff, Mercedes SL and S class cars, an Audi A8 and S8 etc etc. The prices were fairly cheap, but you had none of the 'security' you might expect from a dealer. They've long since stopped trading, though it takes me back as I remember a colleague saying a Sierra RS Cosworth 4x4 that they had for sale for £5000 'pushing it' price wise despite being in great condition!

[sparkybean]

So if you click the link it takes you to auto trader, but if you paste it into your address bar it works fine. Hmmm...

[diddles]

Reardy Mister said:

So wheres the catch?

The catch is that it's a scam.

[anonymous-user]

1 question, how come all the car photos are at different locations?

and this-

http://www.scamwebsites.co.uk/scam-websites-blog.h...

[Reardy Mister]

The Spruce goose said:

1 question, how come all the car photos are at different locations?

and this-

http://www.scamwebsites.co.uk/scam-websites-blog.h...

Ah.

Nuff said. Cheers chaps.

[POORCARDEALER]

FYI finance repos that are undamaged with docs do strong money in auction...the dont seem very cheap these days

[AutoClouseau]

You have to do your homework like on any other car purchase. Some people have looked after the car and perhaps reason for the repo is, the company has gone under, so car goes as well having been financed under the company name, it might even have being under a service contract, (depends on how long its been in arrears, as people realise if it goes in for some work, it may not come back out to them!)
Others, where people have been ducking and diving the repo calls just run them into the ground, waiting for the inevitable knock at the door, from which, anything that needs spending on the car hasn't. Its not over common for brake wear indicator, service due lights to be lit, along with tyres even race drivers would prefer not to use on a sunny day.
As far as cheap, I think its a myth really, as finance companys want to get as much back as possible and the days where you could do a back office deal are over. When going back to ip's and private customers for any shortfalls, you have to be seen to have sold at market valve, hence they sometimes go through the block a few times,with the reserve lowered each time, the only difference is with lease repos, where the value is irrelevant, as the rentals outstanding are just that.