10 Benefits of Repo Car Sales

1.  Low Prices. One of the most obvious and popular benefits of repo car sales is the low prices. Whether sold through a live or online car auction or just bought directly, these cars sell for a fraction of their retail value. It is common to find prices from 50-75% below value and sometimes even cheaper. A few thousand dollars can buy a nice car, instead of the old clunker being the only thing available at that price elsewhere.

2.  Stretch Your Dollar. At repo auto auctions, many cars are sold for their trade-in or wholesale value or less, whether or not the vehicle has a lot of nice upgrades and features. It is possible to find well-equipped models well within your price range, rather than having to settle for the economy or standard bare-bones one at a dealership. You can end up with a much nicer car for less.

3.  Large Selection. Typically repo cars are auctioned off periodically at large events, so many are sold at the same time. There is a lot of variety in what has been repossessed – from almost-like new cars to those in poor condition in every make and model. You will find a wider selection there than at most dealerships.

4.  Constantly Changing Inventory. The used car inventory at most dealerships tends not to change very quickly, but autos are always being repossessed so each auction has new cars and the possibility for finding a great deal. If you don’t find what you are looking for at the first auction, it is likely you will find it at the second or third.

5.  No Sales Pressure. Buying a car at a dealership can be stressful and frustrating. You can feel pushed into buying before you are ready or when you are not sure if that is the vehicle you want. Haggling over the price and financing is often exasperating and time-consuming. With repo car sales, you bid up to the price you want and if you are the highest, you win. No pressure, no hard-sell tactics; just a straight-forward auction transaction that can be a very refreshing way to buy a used car.

6.  Safe and Secure Buying Environment. With all the online scams and shady car sales, buying from a reputable auction company where you can inspect the vehicle first means you can be confident that you are buying the car you think you are.

7.  Good Investment. Like all used cars, repo vehicles have already depreciated the 1/3 or so they will as soon as they are driven off the lot. Since most experts recommend not paying more than the trade-in value for a repossessed car at auction, you can purchase one and sell it at the private party price and make a nice profit. With some vehicles you can even drive them for a while before selling them and still get more than you paid for it.

8.  Possible Second Income. If you find you enjoy attending repo car sales and finding great deals, you can make a nice additional income by reselling the vehicles you buy without putting in a lot of time. While the specific rules are different in each state, most will let you sell a certain number of vehicles a year without having a dealer license.

9.  Scaleable Business. You can choose to only buy and sell a few repo cars or you can purchase many. Used car dealerships get much of their inventory from repo auctions and you can create a small or large car sales business reselling repos too.

10. Connect with Others. Attending repo car sales gives you the opportunity to meet other people who are buying and selling repossessed vehicles. You can learn from them and possibly meet future buyers for vehicles you find.

Other Interesting Articles To Consider

How to Inspect Repossessed Vehicles

Finding Repossessed Cars For Sale

Seven Secrets to Finding Online Auto Auctions

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