Is it true that you could buy RE-PO cars at auctions for cheap?

Question

I came across some websites who charge $30-$50 so, I could get a membership and get full access to government, bank re-po and police bust vehicles for auction. Is this a scam or maybe real thing? Any suggestions please? If it is true then why wouldn't anyone buy these cars and sell it for profit?

Answer 1

oh yeah, very cheap, and nice too. i know someone who bought a 2004 bmw(perfect condition)for $11,000. the only problem with most repo auctions it that you cant test drive the cars. at the one i go to they let you start the car, creep it forward, creep it backward, and test its controls. a repo auction is a great place to buy a car but one must understand that buying a car from there is taking a gamble because just because a car might run good, doesn't mean the tranny couldn't be out or  something.

Answer 2

If you think about it, the bank or finance company has already had some of the money for the vehicle. They just want to clear their outstanding debt.

Answer 3

Yes you can buy REPO cars cheap, but paying a fee for that type information is for fools.

Read this link    http://www.usedcartips.org/AUCTIONS.html  this site is the best on the Internet.

Answer 4

I've never heard of anyone buying their way into an auction. Most auto auctions are closed to the public and you must present your dealers license to enter.

What these people are probably doing is offering to buy for you but you will not be allowed in to the auction.  Sounds like a scam to me.

Why doesn't everybody do it? Becasue most auction cars are pieces of c**p and need a lot of work.  Not many people are willing to invest all that money, hoping they can get it back when and if the car sells.  

Answer 5

You may get cars with bullet holes in them.  :)  I think you can ask your local police if they are having a seizure auction that is open to the public.  The biggest trick is finding these auctions that are open to the public or getting invited to ones that are not.  There may be tax or legal restrictions on "flipping" these properties or items.  You would do best to find someone that attends these acutions and pump them for info on the pluses and minuses of buying like this.

Answer 6

Because when the guy gets out of jail, he will come after you.  lol

Answer 7

Persenly i would not pay any body money, to anser that questen for me,  

Answer 8

its true but the cars that are usually repoed are junk. that's because people try to hide the cars. i know of 1 example where the person took house pant and painted his car a different color. when they found the car it wasn't worth anything and the guy still had to pay for it. also why pay someone 30 to 50 dollars to get the same lists free either in your local paper or on the internet?

Answer 9

Those membership sites are good depending on which one you go to. They have access to auctions that have really cheap cars. Just give it a good inspection or take a mechanic with you because they are sold in as-is condition. People do buy the auction cars and sell them for a profit but there is a limit to how many you can sell before you need to get a 's dealer's license, which can be pretty expensive.