Car repossession?

Question

I'm looking to buy a used car that I like but when I looked at its history report, it shows that it has been repossessed about 4 years ago. It's had 2 owners since then, total of 4. I really want to buy it but I just want to clarify: buying a car that has been repossessed in the past won't affect me at all?

Answer 1

i wouldn't buy a repo car unless it was DIRT cheap, cause the owners will drive the c**p out of it knowing that the bank will end up taking it anyway...

Answer 2

Unless it shows a salvage title, or odometer roll back, or flooding, or commercial use, don't worry about the history report.  A repossession won't affect you in any way.

The most important thing is to get it checked mechanically before you buy it.

Answer 3

Repossessions in the past should have no effect on you or the car now -- unless the reason for the repossessions was that the car had serious problems and the owners couldn't sell it for what it should have been worth without the problems. You should definitely get a mechanic to check this vehicle for hidden problems.

Answer 4

Its gonna bring you problems or already has alot.

if someone cant afford to make the payment they probably cant afford the maintenance

Answer 5

It would only affect you if you defaulted on your  payments and

it was repossessed a fifth time.  Are you worried about it's mechanical condition?

Previous owners has nothing to do with your credit