Tag Archives: dealers

cars driving on the road

5 Things You Get When You Join RepoFinder Pro

RepoFinder is a nationwide directory of banks and credit unions that have repossessions for sale. These repos are sold to the public, so you do not need a dealer’s license to purchase them. You can use our site for free, allowing you to search for repossessed cars, trucks, RVs, boats, etc. in your state. However, if you find a vehicle that you’re interested in, you can benefit from upgrading your account to Pro status. 

Below are five things you get when you join RepoFinder Pro for just $4.95 a month. No long-term contracts – cancel anytime! 

1. Full access to our Featured Repo list. 

If you want to learn more about any of the used vehicles on our directory, it helps to have RepoFinder Pro. With full access, you can view all information, such as the vehicle’s type, price, location, condition and other details. For example, has it been inspected by a mechanic? This will help you make informed decisions as to which repos you want to bid on at auction

2. Unlimited searches. 

There are no limits on the number of searches you do as a RepoFinder Pro member. This is important because it will probably take time to find a repo that fits your budget and buying criteria. Some people even bid on multiple vehicles before they win. To help narrow your search, use our category buttons. 

3. No sales fees or commissions. 

There are never any sales fees or commissions when you use RepoFinder Pro. We have an easy month-to-month subscription, and you can cancel anytime. At less than $5.00 a month, it’s easy to renew your membership until you find a repo that meets your needs. If you find a vehicle and your bid is accepted, you can cancel your membership – no strings attached. 

4. Access to the largest nationwide bank repo database. 

RepoFinder proudly offers the largest national bank repo database. We know that there are other repo listing sites out there, but none are quite as extensive as ours. You’ll find plenty of repossessions in your state that include cars, trucks, ATVs, RVs, boats and even small aircraft. 

5. No dealer license required. 

With RepoFinder Pro, you can buy used cars and trucks without a dealer’s license. All repos listed on our directory are sold to the public. Other listing sites only sell to auto dealers who plan on buying vehicles in bulk at wholesale prices, which is why they require a special license. 

Feel free to browse our database at any time. It’s free and easy to use! If you find vehicles that you want to bid on or want more information on, you’ll have far more access by upgrading to RepoFinder Pro. With month-to-month subscriptions and a low fee, you have nothing to lose! 

man shopping for cars

Do I Need a Dealer’s License to Buy Repossessions?

If you’re interested in buying a repossessed vehicle for sale, you might be wondering if you need a dealer’s license to do so. Depending on who you buy the repo from, it’s possible that they may require a dealer’s license. But, not every repo seller does.

RepoFinder.com is a nationwide directory of banks and credit unions that sell repossessions to the public. You do NOT need a dealer’s license to buy any of the vehicles listed on our site. Let’s learn more about what a dealer’s license is, when you need it and why RepoFinder does not require one. 

What is a Dealer’s License? 

A car dealer’s license is required to start a dealership business. This license allows you to purchase new vehicles from car manufacturers and used vehicles from auto auctions. The benefit of having this license is that you can buy vehicles on a large scale. So, if you wanted to purchase ten vehicles from a repo auction, you could do so with a dealer’s license. 

To obtain a dealer’s license, you need proof of a federal tax identification number and evidence of your company’s name and location. Additionally, you need proof of insurance to cover all of the vehicles you plan to sell at your dealership. 

Why Would Someone Use a Dealer’s License to Buy Repos? 

Repossessed cars, trucks and recreational vehicles are hot. They are sold at highly discounted prices because the banks and credit unions are trying to recoup their losses. It’s not uncommon for repos to need some basic maintenance and repairs, as many haven’t received this from their owners. But, they tend to be in decent condition with few major problems. 

For this reason, the dealerships love getting repos. They can purchase the cars in bulk at a discounted rate, fix them up and sell them for as much as any other used car on the lot. This is why some repo listing sites and auctions require a dealer’s license. 

Does RepoFinder Require a Dealer’s License? 

RepoFinder sells repossessed vehicles to the public, so you do not need a dealer’s license to purchase a vehicle through our repo listing site. However, it’s important to know that each bank and credit union has different processes for selling repos. Therefore, you’ll want to visit each individual site to know what you need to purchase a vehicle.

For example, some banks will make you go through the bidding process while others allow immediate purchases. We do recommend working with banks that let you see the vehicle before you sign anything. Once you sign the paperwork, the car is yours whether it drives or not. 

RepoFinder.com makes it easy to shop for repossessions in your area. Check back often, as new repossessions are being added all the time!