Why do BANKS Repossess?
Most banks in the United States today do a great deal of business in auto financing. When loans are past due they usually go to the bank collection department. The people who work in this department sit at desks and make telephone calls all day long to people who are past due with their car payments. When problems occur, the account is given to the collection manager who makes a determination on what to do. In a great deal of these cases, the collection manager determines that the best solution is to repossess the car. Depending on how easy he thinks this will be, he might either have one of his collection agents repo the car or call in an outside repo agency. Some banks rely solely on outside agencies to do this kind of work. Other collection departments will attempt to repo a certain percentage of the easy ones and turn the rest over to a professional repo agency. Even a percentage of these usually end up in the hands of an outside repo man.
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Why Are People Going To Car Auctions?
***** Well, first and foremost, there's no doubt that the biggest benefit is "price". Purchasing vehicles at 40% to 60% below retail is fairly common, leaving extra dollars for a vacation, or a child's education, or new items for the home, or whatever.
***** No more car Dealers to contend with. Most people find the process of buying a car about as much fun as root canal. But this way, there's no more stressful negotiating and haggling. Auction buyers have taken over full pricing control.
***** Many people have discovered that they can resell these vehicles on their own to make some nice extra income. Because of the prices paid, people can resell them at very favorable prices. This becomes a win/win scenerio, a very good outcome for both parties.
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Okay, Here's a problem... Where Are These Heavily Discounted Deals?
Yes, public car auctions are hard to find ... and it's a big problem.
Many of them have nothing to do with the internet so you just won't find them on the search engines. Others aren't aware of search engine listing tactics and are buried who knows where in the results.
That's where SellaRepo.com Comes in we find the best deals, companies and auctioneers and place them all in one convient website for the consumer to browse through!
Some make announcements in local newspapers, but if you don't know which paper or when because you don't know it even exists, it's a problem. Some even seem to be word of mouth.
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