6 Steps to Finding Foreclosed Cars For Sale

There are always a lot of options to choose from when you are looking for a foreclosed car for sale. The important thing is that you find the one that best suits your needs. Following the steps outlined in this article will help you find a car that is well suited to you needs and one that you will be very happy with.

Step 1. This about what type of car you are most interested in. Do you want a sports car or and SUV. A commuter car or a minivan. Deciding upfront on what type of car you want is crucial to helping you find the car that you need. Are you primarily interested in performance, luxury, convenience or price?

Step 2. Now that you know what features you are interested in. The next step is to make a list of needs and wants. You must make sure the car you are interested has all of the needs as well as most of the wants. For instance, if your budget is $10,000 you need to make sure you stay under budget. The might rule out a Porsche that is less then ten years out.

Step 3. You may want to borrow or rent the foreclosed car you are interested in for the weekend. This is a cheap way to keep from making a mistake. If find out the car isn’t for you then you just saved yourself a big mistake.

Step 4. Maintenance and Mileage. Is the car high or low maintenance? What will the monthly gasoline expense be based on the miles I am currently driving? Foreclosed cars for sale may require a contingency of 10% for repairs. If possible, you should plan on having the car inspected before you buy it.

Step 5 . Look for foreclosed cars for sale at auction. Find auctions through banks, and auction companies. Not all repo car auctions are advertise, it may be a good idea to go with someone else the first time to get a better idea of what you are bidding on and the expected selling prices.

Step 6. Win the auction buy being the highest bidder. Have a ceiling bid in place before you bid. In most states the lemon law gives you three days to inspect the car and return it if needs be. Make sure that this law is in place before you bid. Then finalize your purchase and get ready to start enjoying your new car.

Related Articles:

A Guide To Foreclosed Cars

Finding Repo Auto Auctions – Five Places To Look

Repossessed Cars For Sale Tips and Trick to Finding Repo Cars

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