The selling of bank repossessed cars

02 Oct 2010

Bank repossessed cars are an attractive option for the parties involved. The bank or financial institution gets “reimbursed” for the outstanding part of the loan on the vehicle. Potential buyers, on the other hand, get great deals on bank repossessed cars seeing as how banks want to sell the cars as quickly as possible and therefore charge premium rates. There is however a third party that can benefit from bank repossessed cars: those who sell them.