Repossessed Cars: Types of Cars

Many buyers of cars rave about the amazing deal they picked up. Not only can they buy repossessed cars at knockdown prices but there is also access to a wide range of ex-demonstration, company, fleet and ex-rental cars. You too can reap the benefits of buying a bargain used car if you follow the tips which are laid out below.

Most important when buying any prospective car is to try and establish how well the car had been taken care of previously.

Questions to Ask?
Was the oil changed on time?
– Was the car given routine services and maintenance?
– Were repairs made immediately when required?
– Was the car ever involved in an accident?

As a buyer of repossessed cars, being able to find the answer to these questions can help you find the bargain repossessed car that you have been looking for at a superb price. It’s important to be extra careful and following the correct steps can ensure you pick up a bargain repossessed car.

Types of Used Cars
Cars which are available in auction, are often classed as repossessed but can go by a variety of names. It’s important to learn the terms so that you get a better idea of what type of car you are buying and what to look for whne inspecting a vehicle.

1. Company Car
Company cars are usually bought by a company or organisation as new and then driven by an executive of the company for a period of time. Company cars are often
sold on in auction after a few years use but have often accumulated many miles during that time.

2. Demonstration / Demo / Ex-Demo Cars
Demo or ex-demo cars are usually used by a dealership for customer test drives. They have often been driven by the sales staff, dealership staff or customers. These cars aften nearly new and are fairly low mileage.

3. Rental Cars
Rental cars end up at auctions after 2 or 3 years use by a rental company. Again these can be high mileage vehicles but many experts insist ex-rental vehicles are good value if in good condition.

4. Repossessed Cars
When an owner is struggling to keep up with car repayments, the car can be repossessed and sold on in auction. Repossessed cars can be a great option as they have often been looked after well and are only repossessed once the owner suddenly falls into financial difficulty.

5. Salvage Cars
Salvage cars are damaged vehicles which have not been repaired due to the expense in fixing them so they are sold to salvage companies or auctions for parts. Some salvage cars can prove to be a bargain, as they have been written off as non-roadworthy when in reality they have only little damage and can be repaired.
It’s recommended that you have a good knowledge about cars before attempting to try and buy a salvage car. If you don’t know what you are doing, they can be a risky proposition.

When buying any car, particularly repossessed cars it’s important to check the following:
– Age of vehicle
– Maintenance Records / Service History
– HPI Check / Car History Report
– Number of Previous Owners
– Mechanic Opinion
– Price

Read our guide for buying repossessed cars for further free information.

Tags: , , , , ,

Leave a Reply