Common Issues of Repossessed Cars Sold at Car Auctions

07 Aug 2018

Buying a car at auction is exciting and intense. The atmosphere is buzzing, cars are on show and you may even secure the one that you’ve been eyeing at a great price. But, how do you know that you’re getting a good deal on a repo vehicle?

Find out more about repossessed car auctions in Perth with advice from the experts at Xoticar.

 

What Kinds of Cars Get Repossessed?

Put simply, a repossessed car is one that has been taken from its previous owner. Repo vehicles are most commonly taken due to failed loan or lease repayments. If an owner falls behind with their payments and is unable to meet their contract requirements, their financial institution will try to recoup lost money by repossessing the vehicle. Often, these vehicles are in good condition and are able to be resold to a new owner with minimal hassle at auction.

With any vehicle purchase, make sure you chat to the seller or dealer and take a comprehensive look at the condition of the car before going through with a sale.

 

Common Issues to Keep in Mind

If you’re thinking of buying a repossessed car at auction, be aware of the common issues that can sometimes impact repossessed cars. If you have any doubts, simply chat to a professional. The team at Xoticar is more than happy to provide you with as much information and support as possible on our full range of repossessed cars for auction.

 

Unregistered Vehicles

Repossessed cars sold at auction may be unregistered, which means that they might not have a roadworthy certificate. If this is the case, you’ll need to organise both a roadworthy certificate and a way to get it home if you win the auction. Luckily, this is simple enough with trucks, trailers and the option of applying for a permit. The team at Xoticar can assist you in selecting the best option for moving your new car to your home.

 

Illegal Vehicles

While extremely unlikely at reputable auctions, repossessed cars can sometimes be sold illegally. Whether written off, smuggled into the country or severely damaged, illegal cars can cause serious harm to you and other road users.

Make sure that a vehicle’s VIN matches the build plaque in the engine bay, passenger side windshield and registration documents. You can also run a car history check online for added peace of mind.

 

Cars Sold ‘As is’

At repossessed vehicle auctions, cars are generally sold ‘as is’. This means that when you make a purchase, you’re agreeing to accept the car as it currently is – even with faults or flaws that you may not be aware of. At the auction, take a good look at the car and read through its history to learn more about what you’re bidding on.

In order to avoid purchasing a repossessed car with undiscovered issues, Xoticar completes Road Test Reports and inspections to give you a greater understanding of the condition of each car.

 

You Probably Can’t Test Drive

When it comes to buying a new car, the test drive is one of the most important moments. But, at many auctions, test drives aren’t actually allowed. So, how can you feel confident in the quality and performance of your vehicle? Once you’ve got your eye on a car, we recommend taking a similar one out for a test drive whenever possible. This will give you an idea of what driving your potential new car will be like.

At Xoticar, we get each of our vehicles road tested for driveability before each auction. Each car is presented with a Road Test Report so you can gain a comprehensive understanding of the car’s condition and how it drives.

 

Repossessed Car Auctions in Perth

In order to avoid bad luck with repossessed cars, make sure you to go a reputable seller with expertise and demonstrated experience in selling genuine, legal and high quality vehicles. If you’re looking for a classic, muscle or luxury car, explore the range of vehicles available at Xoticar. Our services are also backed by testimonials for your peace of mind. We only stock high quality cars that exceed our strict standards.

For great deals on our huge range of vehicles, attend one of our many auctions to find your next dream car. Contact us on (08) 9313 3200.