I bought a car last year. Sadly, I did not have a blog then. Alas, all of my mostly useless information never made it to the internet. Thankfully, I now have a diary blog. As you might imagine, I did an unhealthy amount of research before buying. I'll spare you the spreadsheets; but, in 4-door sedan world, it seems that you get the most most "bang for your buck" (factoring in depreciation, fuel expense, insurance cost, car longevity, upkeep, maintenance, etc.) by buying a 4-6 year old luxury model (Acura, Lexus, Infiniti) with 50,000-100,000 miles. Also, you can get great deals on bank/credit union-repossessions (make sure to make a ridiculously low offer). If you are in the market, here's a list of a few credit unions I found that take the time to list their repos online:
Amarillo:
https://www.educationcu.com/vehicles_for_sale.shtml
http://www.accesscu.org/repos.php
http://www.acfcu.org/ASP/whatsnew.asp
http://www.tpfcu.com/PicRepoList.pdf
Borger:
http://www.borgerfcu.com/reposessions.php
Pampa
http://www.pamcelfcu.com/autosales.asp
Wichita Falls
http://www.texomacu.com/repos.html
Lubbock:
http://www.mycreditunion.net/chooseautos.asp
Abilene
https://www.abileneteachersfcu.org/site/vehicle.html
http://www.firstabilenefcu.org/sale.html
OKC
https://www.tinkerfcu.org/aV3_Web_Site/Auto_Center/Repos/Repos.html
http://www.weokie.org/aV2_Web/online_inventory/Online_Inventory.php
Dallas:
http://www.dallascu.org/home/auctions
http://www.cuoftexasautomall.com/
http://www.lonestarcuonline.org/home/info/autos
http://fca.flex-internet.com/mainpage.php?PageName=fcacuRepos
http://www.yourfederalcu.com/repos.html
http://www.swacuflash.org/pdf/Repos.pdf
Austin
https://www.velocitycu.com/vehicle_sale.html
https://www.gtfcu.org/services/for_sale.asp
https://www.ccutx.org/products-services/pre-owned-vehicles-for-sale/
http://www.startxcu.com/?Cabinet=Main&Drawer=Main&Folder=Loans&SubFolder=Repossessions
Tuesday, July 6, 2010
Random car buying thoughts...
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We're in the market for a 4-door and this is great. I've also found some good deals on craigslist, but this will help tremendously.
ReplyDeleteIn your experience, do these cars usually go for around what it's listed at or can you offer quite a bit lower?
How a repo works:
ReplyDeleteSnoop Dog still owes $20,000 on his 2006 Escalade. The Dizzle can't pay his monthly loan payment. The bank repos the Escalade. Bank sells the Escalade for $13,000 (hopefully quickly to get it off of the books). Snoop now owes the bank $7,000.