Used car buying advice, reposession, whats the implications?

HI folks, I have been offered a used car for sale, at a very good price, and as the old saying goes if its too good to be true etc etc, well its a finance repo, but i was wondering what the actual implications of buying a finance repo actually are. I mean I know its had a possible smelly person in it, and they may not have used evian in the screen wash but what else? Its not like its been stolen or anything, but im thinking it may well have been driven like it was nicked when they knew it was going to be repo'd.

Thanks guys

18 Comments

the person may just be saying its a repo to cover for a theft?

but if it drives well and its defo a repo then look under the bonnet and if alls well take it.

make sure its hpi clear as well.

Original Poster

the service history is with the solicitor now, and ive been given details of the finance company to confirm the repo.
wouldnt the fact its been repod mean there is no outstanding finance so would be hpi clear...................i assume?

who is selling a repo anyway? because do the repossers not own that item until debt has been paid off or such like?

Original Poster

its a dealership, which must have an arrangement with the finance house i guess. I half know of the finance house that it was repo'd by so may give them a bell and check things are on the level. I was just wondering if there was something that would go against buying the car or indeed selling it on once im bored.

no i dont think there would be; providing you got the v5 its your car so all sorted. i would phone the finance house and just check that everything is above board. :thumbsup: good luck/

How much is the car and what model is it.

Also add in the price of a private plate£200.00/500.00.
All you need is last owner to see it and torch it ?????

Original Poster

its a boxster s on a w plate for 9k, seems a good price in my book, i already had the plate swap in mind but mainly to make cash out of the one on the car now haha

If it's all good on the hpi and it's got all the paperwork then why not.

Be aware though, most repossessions won't have any service books etc, and there's also a chance if they couldn't afford to pay for it they may well have neglected to maintain it properly too.

I'd also say to get the plate on retention and another plate on the car quickly.

Good luck.

I would of thought all the finance would of been paid off a W reg??

What miles are on it? It don't seem that cheap to me, If you want to give me the spec and miles I can do you a glasses guide valuation.


search.autotrader.co.uk/es-…r=B

Banned

Chiptivo;6557165

I would of thought all the finance would of been paid off a W reg??



why?

could be 3rd or 4th owner by now with a loan on it.........

Original Poster

jtx;6557254

What miles are on it? It don't seem that cheap to me, If you want to give … What miles are on it? It don't seem that cheap to me, If you want to give me the spec and miles I can do you a glasses guide valuation.http://search.autotrader.co.uk/es-uk/www/cars/PORSCHE+BOXSTER/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-10-240-4294966163-4294967131/advert.action?R=200938342172373&distance=81&postcode=b288qz&channel=CARS&make=PORSCHE&model=BOXSTER&min_pr=2000&max_pr=&max_mileage=&vehicleYearOfManufacture=2000&vehicleRegLetter=B


its a boxster s with 79k on it and in apparently great nick, no real extras just a 6 stack disc and wind deflector

markhodges1975;6557560

its a boxster s with 79k on it and in apparently great nick, no real … its a boxster s with 79k on it and in apparently great nick, no real extras just a 6 stack disc and wind deflector



http://farm3.static.flickr.com/2504/4005311835_b1bec6d7f7.jpg

Porsche not listed on glasses:|

Price seems about right, not particularly cheap though imo.

Original Poster

nah been looking for a while, and going about 10.5k as a rule for these. Not the perfect spec for me but reckon its the right price

Fair enough, I'm not too up on Boxster prices of late, just seen a few in auctions. I'd buy on condition and paperwork not miles or year or extras. Insist on a jetwash (buy a token if need be) I had a seemingly mint condition one for a few days that leaked like hell:oops:
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