Some people have an emotional attachment to their cars. They give them a name, gender and even a personality. Even though it may sound silly to have a personal relationship with a vehicle, it’s not uncommon. According to one study, 70 percent of respondents admitted to feeling “very attached” or “somewhat attached” to their cars.
There are a number of reasons why people get attached to their vehicles. For example, people often go through major milestones with them – weddings, road trips, new babies. Some view their vehicle as a financial investment, while others have had them passed down. Because of this emotional attachment, 36 percent of people say they want their car to go to a good home.
Don’t Want to Deal with a Sentimental Owner? Buy a Repo!
While there’s nothing wrong with having an emotional attachment to your vehicle, things are harder if you’re on the other side. If you’re looking to buy a vehicle that someone is attached to, they may want to charge more because of this emotional investment. They may also be insulted if you try to negotiate.
The good news is that you can purchase a used vehicle at a great price without having to deal with a sentimental owner. Bank-owned vehicles are in possession of banks and lenders – they were taken from owners who could no longer afford them.
And trust us, the banks have no emotional attachment to these vehicles. They make money off lending money, not keeping cars. This gives you the upper hand – you can negotiate a better deal and get a more fair, unbiased breakdown of the vehicle’s condition.
Tips for Negotiating with the Banks
Buying a bank-owned vehicle is a great option if you’re looking for a fast and easy car sale. Here are some tips for negotiating a great deal on a repo.
- Knowledge is power. Know everything you can about the vehicle so that you can negotiate fairly.
- Think about financing early. Having pre-approved financing makes you a stronger candidate. The bank will be more willing to close the deal.
- Read the paperwork. Make sure that the seller isn’t slipping in any additional fees or add-ons.
- Be patient. If you need to walk away from the deal, that’s ok. Even though there are a lot of bank-owned vehicles, buying one of these cars is a process that requires patience.
RepoFinder.com has a full list of bank-owned vehicles like cars, trucks, boats, ATVs, motorcycles and more. When you visit our site, click on your state and find the repos available in your area. It’s free, so find an affordable bank-owned car today!