Would you buy a repossessed car? (carfax report)

[JEDI]

this is part of the carfax report for this car.

it had 3 owners:
1) rental car company
2) sold at auction to someone then it got repossessed 2 years later
3) sold at auction to dealership, which is now trying to sell it for $7k

I havent visited the dealership yet.

What do you think about the price? or should i not touch it w/a 10' pole?

---------------

03/08/2001 North Carolina
Motor Vehicle Dept.
Charlotte, NC
Registered as
rental vehicle
(major car rental company)

06/05/2002 27,589 Auto Auction
Sold at auction
in Eastern Region
Listed as
a fleet vehicle

06/20/2002 New Jersey
Motor Vehicle Dept.
Hillside, NJ
Title #DB20021710064
Title issued or updated
New owner reported

06/25/2002 Dealer Inventory
New York
Vehicle sold

07/08/2002 27,593 Dealer Inventory
Hillside, NJ
Vehicle offered for sale

08/30/2004 40,174 Kansas
Motor Vehicle Dept.
Topeka, KS
Title #N0363101
Title issued or updated
New owner reported
Vehicle repossessed

09/22/2004 Auto Auction
Sold at auction
in Eastern Region

02/10/2005 Dealer Inventory
Rockville, MD
Vehicle offered for sale

 

[Kelvrick]

Rental car = abused

Guy knowing his car is going to be repossessed = abuse some more

guy selling it = problems surfacing

 

[QuitBanningMe]

Originally posted by: Kelvrick
Rental car = abused

Guy knowing his car is going to be repossessed = abuse some more

guy selling it = problems surfacing

My wife's last three cars have been ex- rentals. No problems. Low mileage, clean, serviced, and remaining factory warranty.

A lot if not most of the used cars you see on dealer lots have been bought at auction having been repo'd, traded, or lease terminations. No real difference between them.

Also notice the repo seems to be a first month default or an unwind.

 

[DAGTA]

My car was a previous rental car. Had it two years now and have been very happy with it.

Go check it out and see what impression you get while driving it.

 

[shimsham]

run away!

rentals arent so bad, but its a jizm.

 

[Goosemaster]

That's basically a corolla that has had an awful life...run away...FAST

 

[jagec]

A $7k Corolla from 2001 ain't bad...but test drive it first, obviously.

 

[Thegonagle]

Too expensive. Knock $3,000 off for all it's been through, and you'll have your good deal.

You could probably get an '01 that hasn't led such a tough life your $7000.

 

[halik]

hahah hell no, i wouldnt touch a rental car

 

[Eli]

That's the least of that car's worries.

RUN away.

 

[QuitBanningMe]

Again nothing really wrong with it. I don't understand the "rough life"comments. The car was a rental for 25000 miles. Then it looks to have been used by the dealership for a while then sold to another. Then it was purchased by an individual. Looks like the deal fell through or a fist month payment repo. Now itis on a dealers lot.

The only reasons not to buy it is little warranty left, it is a chevy prism, or they won't come off the price (average retail). You can find a much better car for the same price with more warranty.

My wife's car, a 2001 Altima w/ 25000 miles (ex rental) was purchased 2.5 years ago for $8000. Well taken care of and 10000 miles of B2B coverage and 30000 powertrain coverage left.

 

[JEDI]

how do you know it's a 1st month repo?

 

[nakedfrog]

Yeah, I'd say drop 3k off the price.

 

[JeffreyLebowski]

for 7 grand you can get a new kia. granted it's a kia, but it will have a factory warranty

 

[franksta]

I bought a reposessed house.

 

[DorkBoy]

Everyone jumps on the abused theory because it was a rental.

I purchased a rental and kept it for 3 years and 60,000 miles never had a problem, bought a repossessed also, same no problems.

 

[osiris3mc]

Definitely lower the price. Do not pay $7k!

 

[JulesMaximus]

There is no fvcking way I would buy that car. You should run away...as fast as you can.

 

[spacejamz]

Originally posted by: DorkBoy
Everyone jumps on the abused theory because it was a rental.

I purchased a rental and kept it for 3 years and 60,000 miles never had a problem, bought a repossessed also, same no problems.

how does this guarantee that no one else will have any problems buying a repo'd rental??

 

[RossMAN]

Originally posted by: JeffreyLebowski
for 7 grand you can get a new kia. granted it's a kia, but it will have a factory warranty

For $10k you can buy a BRAND NEW 2005 Hyundai Elantra GLS manual.

Yeah it's $3k more but probably a lot more reliable than this (possibly abused) former rental car and has a generous warranty as well.

 

[DougK62]

I've never repoed a car that was taken care of.

 

[QuitBanningMe]

Originally posted by: JEDI
how do you know it's a 1st month repo?

It wasn't. I was seeing if anybody was actually reading the history or just jumping to conclusions.

 

[Eli]

It's true, but the same argument can be used the other way..

We simply don't know. That said, you have to admit that being a rental car ups the chance, I'd bet significantly, that the car was abused.

But, it was probably taken good care of. A used car is always going to be a crapshoot.

I was kinda thinking Lease at first, that's even worse than rental....

 

[JEDI]

Originally posted by: RossMAN

Originally posted by: JeffreyLebowski
for 7 grand you can get a new kia. granted it's a kia, but it will have a factory warranty

For $10k you can buy a BRAND NEW 2005 Hyundai Elantra GLS manual.

Yeah it's $3k more but probably a lot more reliable than this (possibly abused) former rental car and has a generous warranty as well.

how do you get $10k for a new elantra?? invoice price + destination charge - $1750 rebate = $11k