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Asked: Sep 10, 2009 - 01:00 PM

Status: Closed

What advice is there for someone buying a repossessed credit union car?

Are credit union repossessions safe to buy? What should I be looking out for?

In Buying & Selling > Car Buying > Options
4 answers - 49 days ago

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karjunkie

Date: Sep 10, 2009
Time: 05:34 PM

First off, you should NEVER buy any used car without getting a Carfax report for $30 and paying a qualified mechanic $100 for a complete inspection. That will be the best $130 you ever spent and may save you $$$ and a lot of frustration if the car turns out to be a rolling repair monster! If you go to the maintenance section of Edmunds.com, you can enter the year, make and model of each car and see all the recalls and TSBs issued for that car. Any car with high miles is probably going to need some expensive maintenance service unless the prior owner has done these. Since you cannot get complete maintenance records and then compare what was done to what is required by the manufacturer on a repo car, you will be taking a chance on this. In particular, most cars require a major service at 30K and 60K miles, so try and get a car with the lowest mileage possible and perform any major service as soon as you get it. Good luck on whatever you decide!

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avatar

karjunkie

Date: Sep 10, 2009
Time: 05:34 PM

First off, you should NEVER buy any used car without getting a Carfax report for $30 and paying a qualified mechanic $100 for a complete inspection. That will be the best $130 you ever spent and may save you $$$ and a lot of frustration if the car turns out to be a rolling repair monster! If you go to the maintenance section of Edmunds.com, you can enter the year, make and model of each car and see all the recalls and TSBs issued for that car. Any car with high miles is probably going to need some expensive maintenance service unless the prior owner has done these. Since you cannot get complete maintenance records and then compare what was done to what is required by the manufacturer on a repo car, you will be taking a chance on this. In particular, most cars require a major service at 30K and 60K miles, so try and get a car with the lowest mileage possible and perform any major service as soon as you get it. Good luck on whatever you decide!

avatar

steve_

Date: Sep 18, 2009
Time: 06:05 PM

Credit union or bank repos can be good deals if you follow Karjunkie's advice. I used to cruise the back lot at a local credit union and came close to buying a car that way one time.

I'd deal only with the credit union or bank and avoid any internet sites that claim to help you find a repo deal. Those sites are usually scams.

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mikedudical

Date: Oct 02, 2009
Time: 10:32 PM

Steve is right. The best advice I can give you is to avoid Gov. Auctions because the cars are beat up and online sources try and charge you $50 to get a list of autions. The best repossessions are right under your nose at your local Credit Unions.

Source: 

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mikedudical

Date: Oct 07, 2009
Time: 12:27 PM

The best place to find repossessions at a Credit Union is www.repofinder.com. It's free to use and links you directly to the Credit Unions selling the cars.

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Top Car Buying Options Experts

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1. morin2 145
2. karjunkie 135
3. steve_ 105
4. boomchek 60
5. mr_shiftright 25
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