BBC news reports that John Kufuor, the ex prime minister of Ghana has had 3 of his cars repossessed. Read the full article here.
Posts Tagged ‘buy a repossessed car’
Ghana’s Ex PM has Car Repossessed
Sunday, April 26th, 2009Ferrari – The Most Repossessed Sports Car
Sunday, April 26th, 2009According to an article published by Top Gear Australia, a large number of sports cars are increasingly being repossessed, with the Ferrari being the leader in repossessions amongst the Super Car range. Read the full article here.
Repossessions Hit 12 Year High
Sunday, April 26th, 2009According to the Guardian newspaper, repossessions have now hit a 12 year high in the housing market. No doubt the number of cars being repossessed has increased by a huge amount also. Read about it here.
What is a Default Notice / Court Summons?
Sunday, April 26th, 2009Before a car is repossessed a default notice will be sent out by loan company and if this is not complied with, court proceedings take place.
If a buyer fails to keep up repayments as per the agreement of the purchase of a car a lender will initially send out reminders of payment. Following this a default notice will be sent to the owner.
A default notice is a formal notification of arrears. A default notice will stay on a person’s credit file for 6 years and will make it extremely difficult to obtain any further credit. For this reason it should treated as a priority and dealt with immediately.
If payments are in arrears the loan company MUST serve you with a default notice before any court action or legal proceedings take place. A default notice will provide details for immediate payment and if this payment is made there will be no further action taken. There is usually a time frame of 7 days when a default notice is issued before court proceedings.
Court Proceedings
After sending a default notice, the lender can start the process to recover the money by issuing a claim form. If you receive a claim form, you will know that the lender has started proceedings in the county court. This claim form will make it clear who is taking you to court, the amount of arrears and proposed action.
To avoid court action, it is advisable to contact the lender to establish a mutually acceptable agreement. Court action will result in the registering of a County Court Judgment or CCJ against you and the issuing of an Order by the court that the debt is repaid either immediately or by installments. So long as the debt is for less than £25,000 you will be able to apply to the Court for a Time Order to give you more time to repay the debt.
If you have been requested to repay the full amount, you can apply to the court to vary the order to a monthly payment you can afford. Filling in a N245 form, which can be obtained either from the court, or downloaded online, can do this. Generally there is a fee of £30 to be included with the Variation form; however, this can sometimes be waived if you are on a low income.
The N245 Varied Order form is your opportunity to inform the court of an offer of repayment you believe you can afford to pay each month. The court will pass the form onto your creditor for them to decide if the offer is acceptable or not, If the creditor refuses your offer, the court will take a look at your details and set a repayment the court believes you can repay. If the creditor accepts your offer, the order will be made for the amount you said you could pay.
A County Court Judgment will be registered on your credit file and will remain there for 6 years. However, if you repay the judgment before the 6 years are up, you can apply for a Certificate of Satisfaction. There is a cost of £10 for court fees. This will then be placed on your credit file that will be seen by any lender you use to apply for credit.
To prevent a County Court Judgment from being registered on your credit file, you need to repay the full amount requested within one month.
7 Ways to Avoid Your Car Being Repossessed
Saturday, April 25th, 2009
As a result of the current economic climate in the UK, an increasing number of people are finding making repayments on car loans difficult and as a result their cars are being repossessed. Having your car repossessed can often be a huge financial strain as loan companies resell or auction the repossessed car as quickly as possible for a knockdown price and then chase you to pay the difference. If your car has been repossessed or you have been served with a default notice finding useful information can often be difficult.
But could this whole situation have been avoided in the first place? Below are some top tips on avoiding car repossession:
1) SHOP AROUND – When you first go ahead with a purchase its important to check the market. There are many companies offering different rates and different terms. Shopping around can get you the best deal and ultimately save you money so payments can be more affordable during more difficult times.
2) DECIDE WHICH IS THE BEST TYPE OF LOAN FOR YOU – Secured loans, hire purchase car credit are all different types of loan. Check carefully which is most suited to you and your budget to avoid your car being repossessed.
3) DON’T BE PUSHED INTO ANY DEAL – When buying a car or getting a loan for a car you can easily be pushed towards the wrong option for you by commission hungry salesmen. Don’t commit to anything until you have done your research. There is no harm in asking for a day or two to think about your final decision.
4) CALCULATE THE TOTAL AMOUNT TO BE REPAID – Although repayments may be low how much are you actually paying by the end of the agreement? Buyers often overlook how much they will end up paying and ultimately end up paying much much more.
5) CAN YOU AFFORD THE REPAYMENTS? – Are you buying over your budget? Is this really what you can afford. Sometimes the desire for having a nicer car than your budget can afford will bring problems when making repayments.
6) CHECK THE SMALL PRINT – When signing any agreement it is imperative to check the small print thoroughly and know your rights. Remember these contracts have been drawn up by cunning lawyers who are paid by the loan companies to make the deal seem more attractive and get the most out of you if you default on payments.
7) SPEAK TO THE LOAN COMPANY – If you are struggling with repayments, DO NOT HIDE. Often just speaking to the loan company can be the best way to avoid having your car repossessed. They may be able to adjust your repayment schedule or allow you time to come up with the funds.
If you found this article useful please feel free to find more information on car repossession or where to buy a repossessed car.
BUY A REPOSSESSED CAR – UK SOUTH EAST
Friday, April 24th, 2009
Here are some links to auctions or recommended sites for buying repossessed cars in the South East of England:
» British Car Auctions Blackbushe
BCA brings more repo car buyers and sellers together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations.
» British Car Auctions Paddock Wood
BCA brings more car buyers and sellers together with an enormous range of sales each year including: Repossessed Vans, Repo Cars, Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations.
» Barons (Auctioneers) Ltd
Regular auctions of Classic, Collectors and Historic cars at Sandown Park Exhibition Complex, Esher, Surrey. See website for auction calendar.
» Manheim Auctions Wimbledon
Manheim Auctions has a national network of auction centres that cover the length and breadth of Britain and offers over 50 sales each week! In addition we offer the latest online sales channels and a comprehensive range of products and services. Good site for finding repo cars and repossessed vans.
» Hobbs Parker Car Auctions
Buying and selling made simple. Around 125 sales each year. General car auctions every Monday and Wednesday evening except Bank Holidays,
Commercial vehicle auctions every other Thursday. 4WD, Diesel and MPV Vehicles auctions on the first Wednesday of each month. For special Repossessed Sports and Performance Car auctions please see website.
» Motorway Car Auctions
Specialists for imported repossessed Japanese vehicles. In excess of 350 vehicles are available at each auction. Vehicles for sale include repo sports cars, 4×4’s and people carriers. Auctions are held every Tuesday and vehicles can be viewed on the day of auction. A snack bar is available. MCA is a trade only auction. Address – Eastern Docks,Southampton, SO14 3QN. Tel – 023 80710234
» Eastbourne Car Auctions Ltd
Contractors to over 50 large fleet customers and many household names use our services to dispose of their fleet vehicles. Over 600 cars offered each week including court order repossessed cars and vans. Auction days – Wednesday and Friday.
» Shoreham Vehicle Auctions
We operate from a 4 acre site with 30,000 sq ft of under cover viewing area, incorporating 2 auction halls and a canteen. Currently holding 2 auctions a week, Monday and Thursday with up to a 1000 Cars, Vans and Hgv’s from Blue Chip companies, finance and leasing companies, local councils nationwide and many more. Good place to pick up a cheap repossessed car.
» West Oxfordshire Motor Auctions Ltd
Repossessed Car and Van Auctions are held on a Tuesday and Thursday evening from 6.30pm – 9.00pm. Reliable stock sourced from main dealers, fleet disposals and local authorities. Refreshments available.
» Coys
For many years now, Coys Auctions have led the world-wide market in classic car prices, constantly achieving record prices for our customers.
» Dingwall Motor Auctions (Croydon)
We hold several auction sales a week, to give you a greater opportunity to find the vehicle that suits you. We always have a large selection of repossessed cars and commercial vehicles. Auction days – Monday, Wednesday and Friday.
» Southampton Motor Auction Millbank
Each week, we see a variety of repossessed vehicles passing through our auction hall – all makes, models, sizes and prices. We have three auctions per week with potentially up to three hundred vehicles available for sale.
BUY A REPOSSESSED CAR – UK EAST MIDLANDS
Friday, April 24th, 2009
Here are some links to auctions or recommended sites for buying repossessed cars in the East Midlands of England:
» British Car Auctions Derby
BCA brings more car buyers and sellers together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Repossessed Finance & Leasecars and vans and more, at 22 UK locations. UK leader in repo cars, repossessed cars and vans.
» Northern Motor Auctions Ltd
Northern Motor Auctions hold sales every Monday and Thursday starting at 6.30pm. Approximately 100 cars at each sale. ADDRESS – Stirling Business Park, Park Farm Road, Scunthorpe, DN15 8QP. TEL - 01724 867880
» British Car Auctions Measham
BCA brings more car repossessed buyers and sellers together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations.
» British Car Auctions Measham Commercials
BCA brings more car buyers and sellers together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations. We have a constant fleet of repossessed vans and other commercial vehicles.
» British Car Auctions Nottingham
BCA brings more car buyers and sellers together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations. Repo cars for sale here.
» Newark Motor Auctions
Over 200 vehicles sold every week. Complete price range – £25 to £25,000.
» Manheim Auctions Leicester
Manheim Auctions has a national network of auction centres that cover the length and breadth of Britain and offers over 50 sal
es each week! Hundreds of repossessed vehicles are sold every week. In addition we offer the latest online sales channels and a comprehensive range of products and services.
» Manheim Auctions Mansfield
Mansfield is an 8-acre site offering around 150 – 200 Vans. All sales are fully catalogued and marketed to over 500 buyers. The site offers a full valeting service and trade name deletion, reconditioning, a collection and delivery service and collection and return service from airports and stations. Mansfield also have restaurant facilities and free customer parking.
» Manheim Auctions Mansfield Commercials
Mansfield is an 8-acre site offering around 150 – 200 Vans. All sales are fully catalogued and marketed to over 500 buyers. The site offers a full valeting service and trade name deletion, reconditioning, a collection and delivery service and collection and return service from airports and stations. Mansfield also have restaurant facilities and free customer parking.
» Manheim Auctions Northampton
Northampton is a 6.5-acre site able to store 130 vehicles under cover and offers 40,000 vehicles per year, specialising in main agent part exchanges and trade and fleet cars. The site has restaurant facilities and free customer parking and also offers a collection and delivery service, refurbishment & reconditioning, valeting and Manheim Assured.
» Chesterfield Car Auctions
Part of the Bawtry Auction Group since 1985, Chesterfield Car Auctions specialise in vehicles under £2,000. Chesterfield has developed a loyal following with private customers and traders in the pursuit of value for money vehicles. Auction days – Monday, Wednesday and Friday.
» The Fleet Auction Group Ltd – Coalville
Comprehensive stock, sourced from a variety of national fleet vendors and vehicle manufacturers at the best repossessed auction. Centrally located, with 3 auction halls on our purpose-built 12 –acre auction complex, secure customer parking for 500 vehicles and with full restaurant facilities. Fleet cars auctions Monday and Thursday, LCV, LGV and plant on alternate Wednesdays. We operate a strict trade-only policy.
» Manheim Auctions Mansfield Motorbikes
Manheim Auctions has a national network of repossessed auction centres that cover the length and breadth of Britain and offers over 50 sales each week! In addition we offer the latest online sales channels and a comprehensive range of products and services.
BUY A REPOSSESSED CAR UK – LIST BY DAY
Friday, April 24th, 2009
Here are some links to auctions or recommended sites for buying repossessed cars or vans named by day. You can click on the name of the auction for more information:
Monday Repossessed Car and Van Auctions
Aberdeen SMA Group
Ashford Hobbs Parker
Bedford BCA
Birmingham BCA
Blackbushe BCA
Brighouse BCA
Chelmsford Aston Barclay CA
Chesterfield Bawtry Auctions
Colchester Manheim
Coventry Manheim
Croydon Dingwall CA
Derby BCA
Doncaster Bawtry Auctions
Edinburgh BCA
Glasgow BCA
Kinross SMA Group
Leeds Manheim
Leeds SMA Group
Livingston SMA Group
Manchester Stoodley
Merthyr Tydfil Auctioneers
Middlesbrough Manheim
Newcastle SMA Group
Newport BCA
Newport Auctions
Peterborough BCA
Preston BCA
Redditch Arrow Auctions
Shoreham VA
Southampton A1 Imports
Wimbledon Manheim
Tuesday Repossessed Car and Van Auctions
Birmingham Car Auctions
Bourne County Carauctions
Brighouse BCA
Bristol Manheim
Colchester Manheim
Coventry Manheim
Donnington The Auction Group
Edinburgh BCA
Ferryhill Durham County CA
Glasgow Manheim
Haydock Manheim
Knottingley Manheim
Leeds Premier Motorauctions
London BCA
Manchester Manheim
Manchester Belle Vue BCA
Mansfield Manheim
Measham BCA
Newcastle BCA
Northampton Manheim
Paddock Wood BCA
Poole South Western Vehicle Auctions
Stirling Scottish Car Auctions
Walsall BCA
Westbury Motorauctions
Witney West Oxfordshire Motor Auction
Wednesday Repossessed Car and Van Auctions
Ashford Hobbs Parker
Birmingham Manheim
Blackbushe BCA
Bridgwater BCA
Bristol Manheim
Chelmsford CA
Chesterfield Bawtry Auctions
Colchester Manheim
Coventry Manheim
Croydon Dingwall CA
Derby BCA
Doncaster Bawtry Auctions
Donnington The Auction Group
Eastbourne Car Auctions
Glasgow Manheim
Glasgow Central Car Auctions
Glasgow BCA
Haydock Manheim
Kinross SMA Group
Leeds Premier Motorauctions
Leeds Manheim
Manchester Stoodley
Manchester Belle Vue BCA
Mansfield Manheim
Merthyr Tydfil Auctioneers
Middlesbrough Manheim
Newcastle SMA Group
Newport Auctions
Newport BCA
Nottingham BCA
Peterborough BCA
Preston BCA
Redditch Arrow Auctions
Rotherham Manheim
St Helens Motorauction
Tewkesbury BCA
Washington Manheim
Wimbledon Manheim
Thursday Repossessed Car and Van Auctions
Aberdeen SMA Group
Bedford BCA
Birmingham BCA
Birmingham Car Auctions
Blackbushe BCA
Bourne County Carauctions
Brighouse BCA
Bristol Manheim
Colchester Manheim
Derby BCA
Ferryhill Durham County CA
Glasgow BCA
Gloucester Manheim
Knottingley Manheim
Leeds Premier Motorauctions
Leeds Manheim
Leicester Manheim
Leominster Brightwells
Livingston SMA Group
London BCA
Manchester Manheim
Mansfield Manheim
Newcastle BCA
Newport BCA
Northampton Manheim
Preston BCA
Shoreham VA
Walsall BCA
Westbury Motorauctions
Witney West Oxfordshire Motor Auction
Friday Repossessed Car and Van Auctions
Birmingham BCA
Birmingham Manheim
Blackbushe BCA
Bridgwater BCA
Brighouse BCA
Chelmsford CA
Chesterfield Bawtry Auctions
Colchester Manheim
Croydon Dingwall CA
Doncaster Bawtry Auctions
Eastbourne Car Auctions
Glasgow Central Car Auctions
Glasgow Manheim
Glasgow BCA
Haydock Manheim
Kinross SMA Group
Knottingley Manheim
Leeds Premier Motorauctions
Manchester Stoodley
Manchester Belle Vue BCA
Measham BCA
Middlesbrough Manheim
Newcastle SMA Group
Newport Auctions
Nottingham BCA
Paddock Wood BCA
Peterborough BCA
Poole South Western Vehicle Auctions
Rotherham Manheim
Tewkesbury BCA
Washington Manheim
Westbury Motorauctions
Wimbledon Manheim
Saturday Repossessed Car and Van Auctions
Birmingham Car Auctions
Gloucester Manheim
Leeds Manheim
London BCA
Manchester Stoodley
Merthyr Tydfil Auctioneers
Sunday Repossessed Car and Van Auctions
Glasgow Manheim
BUY A REPOSSESSED CAR – UK NORTH EAST
Friday, April 24th, 2009
Here are some links to auctions or recommended sites for buying repossessed cars in the North East of England:
» British Car Auctions Newcastle
BCA brings more car buyers and sellers of repo cars and vans together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations.
» Manheim Auctions Washington
Manheim Auctions has a national network of auction centres that cover the length and breadth of Britain and offers over 50 sales each week! In addition we offer the latest online sales channels and a comprehensive range of products and services.
» Manheim Auctions Washington Commercials
Manheim Auctions has a national network of repossession auction centres that cover the length and breadth of Britain and offers over 50 sales each week! In addition we offer the latest online sales channels and a comprehensive range of products and services.
» Scottish Motor Auction Group Newcastle
Scottish Motor Auction Group is first for price and first for service. Every auction site has modern purpose built facilities for buyers and sellers alike, and our professionally planned auctioneering programme means that you are never a day away from a sale.
»Manheim Auctions Middlesbrough
Manheim Auctions has a national network of auction centres that cover the length and breadth of Britain and offers over 50 sales each week! In addition we offer the latest online sales channels and a comprehensive range of products and services. Middlesborough’s top location for buying repossessed cars.
Newcastle Motor Auctions
Silverdale Road, Newcastle, Staffordshire ST5 2TA. TEL: 01782617930
BUY A REPOSSESSED CAR – UK LONDON
Friday, April 24th, 2009
Here are some links to auctions or recommended sites for buying repossessed cars in the London area:
» British Car Auctions London Enfield
BCA brings more car buyers and sellers together with an enormous range of sales each year including: Manufacturer sales, General sales, Prestige & Performance, 4×4 and Diesel, MPV, Ministry of Defence, and Fleet, Finance & Lease, and more, at 22 UK locations.
» Docklands Auctions 2000 Ltd
We have three Car, Commercial and Bailiff auctions a week, held on Tuesday, Thursday and Saturday. Our auctions are selectively timed to ensure a high level of both public and trade buyers.
» Bonhams
Bonhams hold regular international auctions of Automobilia, Collectible Motor Cars and Collectible Motorcycles.
