Generally, repossessed cars are practical vehicle choices especially among people who want to purchase a good car at a cheap price. Although repossessed cars are very similar to seized cars, the latter are often taken from criminals and therefore, there is a greater chance of them having defects. Repossessed cars are sold directly by the banks who own them as well as at auctions. Repossessed cars are sold directly by the banks who own them as well as at auctions.
The repossessed cars are kept in a warehouse; the homes repossessed, and then auctioned off in a hurry. These auctions sometimes have a few people attending; therefore these repossessed cars are sold for bargain prices. You will be surprised to know that some of these repossessed cars are in brand new condition. Repossessed cars are excellent choice when it comes to second hand vehicles. Most repossessed cars are in very good condition, some being only months old.
When a car is repossessed, these facts are often overlooked and repossessed cars are usually stripped of all items. These repossessed cars are seized and then sold to the highest bidder. Repossessed cars are often sold at a discount price for obvious reasons, mostly because it is technically not a new car and up for only a resale. Repossessed cars are sold at auction which is advertised.
Another thing to note, a lot of repossessed cars are actually taken up by other car dealers and sold as a 2nd hand car. Repossessed cars and repo trucks also have other benefits: against popular belief, repossessed cars are, of course, used cars, but most of the times they're in great condition.