how come there so many repossessed cars ?
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if you notice lately there are so many repossessed cars being auction by banks and financial institutions...
if u see the classified, sometimes u see a long list of vehicles....
if u go pasir panjang warehouse u also can see a lot of veh at the carpark under rain and sun..... turf city also u can see so many cars at the carpark and the end of the complex....
why is this happening ??
actually i guess most of the buyers buy without doing the correct and serious mathematics calculations....
dunt forget not only ur installment figures but also parking fees, erp, petrol, servicing, accessories... etc etc
what abt others opinion ? i just wanna knoe coz as a human being... its quite funny to see others in their fanciful cars but they scrimp until they skip their meals etc........
this is just a mirror to remind ourselves that budgeting is important... -
Like you've said; some must have bought a car without doing a thorough calculation of maintenance costs. Some, bought the car while in good professional health ( with a job ) then when they lose the job, they lose almost everything else.
Then there are some, who can actually afford to keep the car, but because of gambling desires/addiction, lost everything - sometimes even family. There are also those who're wet behind the ears, young wanna-be who dreams of owning a car, and jumps right into it, without thinking ( forget calculations ). Then, shit hits the fan for these people.
Lifestyles, depending on which you choose, is a potential money-trap. -
heng i am working in a financial institution so i can keep a sane mind when comes to buying cars as i am resposible for the repo of the cars...hahahhaha
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So these repo cars are up for sale to the public like you and me?
How do we go about buying it, if interested? -
Can..!! Juz look ou in the papers for those auctions lor
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hi huoye,
Is repos car worthy to buy?
Is it possible to buy at a lower price than 2nd hand price?
Anyway to know what is the condition of the repos car for sale/auction?
Thank you! -
easy to buy, but harder to maintain.
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1) repo vehicles may be juz a few months old.so its almost brand new.
2) there is no condition to buy the vehicle
3) yes it is cheaper cuz mostly dealers will get from us and den sell it outside for a few k more so if u can bid like $500 more den them den u save a few k.
4) u can ask them where is the vehicle located and for a photocopy of a logcard. Den u can go view the vehicle and work out how much u think is worth for the vehicle
and hor i may haf a STI coming in soon duno wan buy anot less den 6mths old i may get it at abt 90k-95k. Heart damn itchy...........wahahah -
repo vehicles may be juz a few months old.so its almost brand new.
thanks for your infor.
Only a few months old? How come? U mean those people cant afford their installment within a year?
the only way to see if the condition is alright is by physical look at the car and thru the logcard? -
yup they cant afford the installments. some first few mths already cannot liao....
And for condition u got to physcially look at it... while the logcard is for u to know the paper value of the car, COE, OMV , and some specs like how many litres, auto or manual.....blah blah blah...........
so unless if the car is paid in full if not i wun bother to admire the guy and his car...... seen too many of this type rubbish cases -
why do ur company sell directly to the public?
Or u only sell to car dealer? -
we auction in the papers,so as to get the highest bid.
it does not matter if its private or dealers......the highest bidder win...
In this case its better for my company as we recoup more of our losses and also its more fair to our hirer too...... -
i see....
so in your opinon, repos car can actually be a good buy la as long as one know how to see the condition of the repos car?
Thank for sharing this infor
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so next time when i saw a nice car like rex or evo zoom pass me, one more question will come to mind...
when is this car gonna get repo???
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they cant pay the bank loan lor... it is easy to get a car but maintence wise is another story...
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if we're successful in bidding for the car, do we have to pay it in full?
or can arrange for installments? -
dont forget to keep a lookout for the car i want hor ... if you sell it away again ... i will smash your carOriginally posted by huoye:we auction in the papers,so as to get the highest bid.
it does not matter if its private or dealers......the highest bidder win...
In this case its better for my company as we recoup more of our losses and also its more fair to our hirer too......
... btw STi and 307 ... which you getting ... MAKE UP YOUR MIND !!! 
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you can arrange for installments of cosOriginally posted by blunt_knife:if we're successful in bidding for the car, do we have to pay it in full?
or can arrange for installments? -
No $$$ mah........dats y cant make up mind............ and yes of coz u can pay by instalments....but u will get the financing company to pay for u to us in full den u pay ur company in instalments lor
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but generally repo cars are in a very sorry stae.
semetimes the owners hide the car so tt the financers cannot find. some like park in the jungles and forest of singapore even though we claim we dunt haf jungles...hehehe..
repo cars usually chialat in conditions... but dealers buy them and refurbish like new n people like u and me become attracted and we buy... but do we know what r we buying ??? hahhahah
feel like ---- after pple tell u thats a repo car...... -
Have u ever went to look at repo-ed vehicles???
Not all r in sorry condition and further some may be even less than half a yr old....
And wad has it got to do wif dealers?? u can go buy a repo-ed vehicle if u wan.... u can even get to view the car first but no test drive... -
Houye...Originally posted by huoye:Have u ever went to look at repo-ed vehicles???
Not all r in sorry condition and further some may be even less than half a yr old....
And wad has it got to do wif dealers?? u can go buy a repo-ed vehicle if u wan.... u can even get to view the car first but no test drive...
When and where is the next auction?
kindly advise, I like to take a look...Thanks...