Repossessed Cars



Thousands of cars are repossessed and become government & bank property through defaulted payments and court repossessions on a daily basis.

Because of the constant influx of vehicles and the enormous expense to store them, these repo cars are often sold as quickly as possible at a cheap price.  This often incurrs huge losses upon the original buyer of the vehicle who was unable to fulfill the agreement made with the finance company.

This website has been produced in order to provide further information regarding repossessed cars including help and advice on what to do if your car is being repossessed.

Having their car repossessed can often have a huge impact on an individual’s life and is becoming more and more common due to the current economic situation within the UK as buyers struggle to make all payments on time.

Singer Kerry Katona recently famously had two vehicles repossessed due to personal financial difficulty, illustrating how the credit crunch is affecting people from all walks of life.

The links section provides links to other websites offering further information on repossed cars and what to do in this situation.

For those of you interested in taking advantage of these low priced repossessed cars we offer a section on where you  can buy a repossessed car and find cheap repossessed cars. Or alternatively you can click on any of the links in the bottom right to find where you can buy repossessed cars in your area.

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Car Repossession explained

If you are facing car repossession or you are currently struggling to make repayments on your car loan, we advise you to firstly contact the finance company and let the know your situation as they may be able to assist you.

If repayments are not being made, the lender has the right to repossess the vehicle. The lender will initially send you a default notice, this will provide you with the opportunity to make repayment. You will usually be given seven days to take action. If you don’t have the money to put things right, you should explain this to the lender. In some cases they will agree to a new repayment structure. In other cases they may not agree on anything less than full payment and will take you to court. At court you can request for more time in order to make repayments, especially if you want to keep the car.

The lender will require a court order if you have repaid more than 50% of the total cost of the loan agreement (This excludes insurance). If you have repaid less than the 50%, the loan company will require a repossession order from the court in order to repossess the car. They are unable to take the car without this, however if they do get permission from you then they are able to take the vehicle. In the long run, it is sometimes better to just give back the car to the company.

If you are facing car repossession we hope this site will be able to assist you in providing advice on what happens and who can help you. If you have any information to add or comments to make we would be interested in hearing from you.


18 Responses to “Repossessed Cars”

  1. Ingrid says:

    I have a situation with a vehicle (2005 Honda Civic) that I co-sign for an Ex-boyfriend in April of 2008. I was never given documents of any kind like the lien contract, registration, insurance of the vehicles and as well the billing statement, I was kept in the dark. When we parted ways he took the vehicle cause he said that I was just the co-signer and not the primary owner. I contacted Honda Financial Services a month after we broke up in August of 2008 and explain them my situation with my Ex- boyfriend I requested information about the vehicle as well where was his new address all this information was denied to me. Since then I thought that I actually had nothing to do with the vehicle. In July of 2010 I decided after 2 years to contact again Honda Financial Services in regards to my credit as Honda was affecting my credit score. My Ex was making the payment but 90% of the payments he makes are all late he has been late for a year straight. On July 27th I received a phone call from Honda Financial Services that car payment is 11 days due. I told the representative why is she calling me when I was told that car was his not mine she reaffirm me the I was the primary owner of the vehicle when the car gets payoff that the title of the car was going to be on my name. I ask her where is the vehicle and she said it was in Nebraska. I called Honda Financial Services and I spoke with a different representative and explain them my situation they discover that car is not register and I was told to report the vehicle to the police and I did. The police told me that the registration of that vehicle had expired since 02-21-09 and was not register in the state of Nebraska. I discover the vehicle was in Aurora, Nebraska I contacted the Aurora police and let them know about the vehicle they found the vehicle and they also know that the car is not register.

    In this situation that I’m in how can I fix this solution without having to go to court and what are my rights as primary owner of this car? What are my options?

  2. phil homer says:

    i purchased a car on hp in jan 2009 the payments are £203.01p per month i have payed now for 17 months i missed one payment of £203.01p but i said i will pay £253.01 which i have for severn months now i have payed with my in installments £3598.07p and a deposit of £1500.00 the purchase price of the vehicle was£6995.00 less deposit is £5495. interest is £1813.35 +£100.00 documentation fee + £60 option to purchase fee total of £7468.35 a third of this is £2489.45 i have just lost my job so i approached the garage and explained and offered them £150.00 for a few months on the 13/8/2010 the director contacted me to take payment i gave him my card details and he said thank you within one hour he turned up at my house with another man and demanded the car back and told me to hurry up as the tow truck was on its way i said why he said my payment did not go through and he has cancelled the agreement straight away i checked with the bank and he has never took no payment . i have payed over a third off he took it with no court order so he has breached the agreement this happened to me some years ago and the finance company had to reimburse me of all my monies i had payed on the agreement is this the same in this case also i have checked the financial services authority website and his licence expired on the 29/1/2009 and he is still issuing car loans under his garage name isnt this illegal when he took my car i was in £56.00 arrears

  3. Ella says:

    This might be useful for someone interested in buying REPO cars in South Africa. I recently stumbled across a website that host the leading Bank’s Repo cars.

    I didn’t realize that buying a car ONLINE can be so easy. Some of the vehicles are being auctioned online, so you don’t even need to be there in person to make an offer! I bought a Daihatsu Sirion in the comfort of my home,with a few clicks of a mouse button!

    The photos online were so thorough that I could even see the engen number and the mileage on the spedometer. So,I made a bid online. My offer was accepted and the competent guys from Myroof.co.za helped me every step of the way through the whole process.

    I would really recommend myroof.co.za. Go check it out sometime!

  4. Thanks for giving such a nice and helpful information. I would like to grab these advantages. i want a cheap repossessed cars. i love to use your services. thanks for sharing

  5. Thanks for the awesome post. Looking forward to staying current with your website. Keep it up with your good work. I will share your blog with my friends. Thanks

  6. Tomas Renda says:

    It’s in reality a great and helpful piece of information. I’m glad that you simply shared this useful information with us. Please keep us informed like this. Thank you for sharing.

  7. Its important that consumers have all the facts so they can avoid having there vehicle repossessed in the first place. Sites like this seem to provide good information..

  8. Lisa H. says:

    Very important and informative thoughts. Drivers and car owners should always take good care of their cars and avoid penalties. This site will surely help those drivers who are currently facing car repossession problems.

  9. casey says:

    I just had my car taken from me from my own dad and i had one payment of $350 left on it and it still had all my school books in the trunk. The worse thing, i had to go to school with no books and then had to buy them again. Talk about not cheap!

  10. Hello…thanks for giving such a nice and helpful information. I want a cheap repossessed cars! Best regards from Germany

  11. gary says:

    I’ve been very big fan of cars myself. Nice Post. BTW, You have not added facebook fan page in your blog yet.

  12. You’ve got great insights about getting mor out of your car, keep up the good work!

  13. Hi, You have published some great information here on repossessed cars. The world economy is taking its toll on individuals and they are not only loosing their homes, but their cars also. Your guidance here is beneficial to all.

  14. Peter Myers says:

    Great article, thank you. Can I perhaps be the first to comment from the other side of the fence – the lender’s?

    My son runs a vehicle finance company and I have a few shares in it. We make our money by helping people to buy cars, not by snatching them back. We always go to great lengths to help clients who experience financial problems and repossession is always the last option we consider.

    When we do have to repossess vehicles – and thankfully it doesn’t happen very often – we almost invariably find that they are in a pretty bad state, often poorly maintained, dirty or damaged through mis-use and usually worth just a fraction of the money still owed against them.

    This recession has hurt a lot of borrowers badly. It hasn’t exactly been a bed of roses for lenders either.

  15. Mixcraft says:

    I wish I had found this website 2 years ago before I had all the troubles with my last vehicle. They said I owed way more on it than I should have – the total had barely come down at all after 4.5 years of paying. I ended up telling them to take it. It was a nightmare, and I will never finance another vehicle without researching and doing my due diligence first. Folks, DO NOT take the first loan terms offered to you without researching your options. I was just so thrilled at being approved that I signed half my life away for that truck. NEVER AGAIN.

  16. I think this is a very good explanation of what a repossessed car is. Made things very clear for me.

  17. Having read this I thought it was extremely informative.

    I appreciate you taking the time and energy to put this article together.
    I once again find myself personally spending a significant amount of time
    both reading and leaving comments. But so what, it was still worthwhile!

  18. That is a great feature, good work , you are really making things easier for all of us, and that’s why we coming back again and again!
    I’m thinking to buy a repossessed car.

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