Tips on Buying Credit Union or Bank Repos Directly without Dealers, Commissions, or Fees

When shopping for a car, buyers have a lot of options

. Buyers can visit local Dealers and view new and used inventory. They can look online and see auto auction sales websites. One of the places many people forget to look is their local Banks or Credit Unions. Buying from a Bank of Credit Union has many advantages. First you don't have to pay a commission or fee. Essentially you are buying from a "private party". Eliminating the commission gives you the peace of mind that you are getting a wholesale price. There is also no pressure. Banks and Credit Unions are not in the car business. They are able to sell them for a lot less. All of their vehicles are usually "priced to sell quick". An added benefit is that Banks and Credit Unions can finance your new purchase onsite. Many of these financial institutions will provide special financing terms to help the cars sell. The only downside to buying from Banks and Credit Unions is finding your local inventory. Many of them don't even sell repossessions to the public and it would take too long to call each one to ask about current inventory. Fortunately for deal seekers, there is a free list of the Banks and Credit Unions that do sell to the public located at RepoFinder.com. Basically RepoFinder is a collection of links to your local Banks and Credit Unions websites where they feature their inventory. It is very simple to use. Just click on your State and a list of financial institutions will be displayed. Click on the links and you will be directed to the website that they list their repossessions. It may take some leg work to search listings, but if you are serious about getting a good deal RepoFinder cannot be beat. In the end you still need to do your due diligence and compare prices. Not every car will be right for you. Feel free to offer lower than the asking price. A lot of times you might just get it.

Tips on Buying Credit Union or Bank Repos Directly without Dealers, Commissions, or Fees

By: Mike Dudical

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