Is it wise to buy a repossessed car?
I am thinking of purchasing a car and a came across a company that specialises in repossessed vehicles. Is this wise or am I buying into trouble?
Asked on 10 April 2015 by
Answered by
Honest John
Another reader was considering a distance buy from a company specialising in selling reposessions. This seemed foolhardy to me. You need to do your own HPI check because a check done by the vendor is not guaranteed to you.
You need to make sure you get all the keys otherwise the person from whom the car was repossessed may still have one and could trace the car and take it back. And you need a guarantee that there is no logbook loan type of mortgage on the car which HPI cannot check for.
You need to make sure you get all the keys otherwise the person from whom the car was repossessed may still have one and could trace the car and take it back. And you need a guarantee that there is no logbook loan type of mortgage on the car which HPI cannot check for.
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