What are repossessed cars and why are they usually cheaper? REPOs are cars embargoed by the lender because the owner failed to make the repayments to the auto loan. They're typically cheaper since lenders want to liquidate these assets and recoup their expenses, not necessarily profit from these cars. Also, as secondhand cars, they would have depreciated and the previous owner paid a chuck of the original value already. Repo cars are on an "as-is where-is-basis" and not every car is gonna be wor
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What are repossessed cars and why are they usually cheaper? REPOs are cars embargoed by the lender because the owner failed to make the repayments to the auto loan. They're typically cheaper since lenders want to liquidate these assets and recoup their expenses, not necessarily profit from these cars. Also, as secondhand cars, they would have depreciated and the previous owner paid a chuck of the original value already. Repo cars are on an "as-is where-is-basis" and not every car is gonna be wor
1.4K viewsJun 5, 2024
FacebookCharm de Leon
More people behind on car payments, many surrender cars before they get repossessed
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