Repossessed Cars - Are You Crazy Enough To Buy Repossessed Cars?

After many years service at a big corporate I was used to driving a brand new company vehicle every two years. Handing back the keys presented me with a real challenge but only until I discovered that I should buy a repossessed car.

My last company car was a C Class Mercedes Benz that came fully loaded with all the usual extras such as satellite navigation, onboard trip computer, leather seats and so on. So after figuring out my budget my first idea to find a new vehicle was to visit the Auto Trader website.

The criteria I had in my mind was simple, I was after another Mercedes with four doors (I have kids), full service history and long MOT and Tax. Obviously the vehicle must also meet my budgetary requirements as well.

After a week or two of searching I became increasingly frustrated as I could not find a vehicle to suit. In fact anything I did find was either over 200 miles away from my home or had already been sold by the time I got to speak to the seller.

I only really understood what the issue was when I attended a vehicle auction near my home in desperation. After striking up a conversation with a dealer he explained to me that the market for second hand vehicles had really been impacted by the Credit Crunch. Apparently people where holding on to their vehicles and not buying new autos. This actually made sense with all the news stories I had seen about new car sales being flat.

So I questioned the dealer further and asked his advice. Quite simply he explained that I should buy a repossessed car. The idea seemed absolutely crazy to me. After all why would I want to take someone's snatched back family vehicle? However on further investigation I discovered that many repossessed cars come from organisations as well as private individuals as well.

It soon came apparent that my local vehicle auctioneers even sold whole fleets of reposed vehicles on behalf of the official receiver (this is the office that deals with failed companies in the UK).

So applying the same criteria I searched through all the lots and was amazed and delighted to pick up a Mercedes for nearly $1000 under my initial budget. It was in metallic black, had blue tinted windows with a prestige interior of grey leather.

Who is crazy enough to buy repossessed cars? Well I know I am from now on, in fact I am sure this is the only way I will source all my vehicles in future.