Here you can see several financial institutions which may have repo cars for sale within Georgia. Repossessed properties, such as boats, RVs, homes, cars, and trucks are offered in Atlanta, Augusta, as well as other cities all around the state. Lenders that initially reclaimed the collateral property are regularly in a position to sell at a sizable discount, as their area of expertise is in lending, but not motor vehicle and home sales. Each financial institution will have a different approach to auctioning repo property.
Georgia Repossession Buying Information:
The State of Georgia has on of the best selections of bank owned repo’s for sale in the nation. Buyers will find that the many friendly banks and credit unions are easy to work with in securing the purchase of a repossessed automobile or home. Georgia bank repo’s are generally going to be cars, trucks, motorcycles, and real estate. Although at times there may be other types of repossessed items for sale too. When purchasing a bank owned asset the process isn’t that much different than buying something from any other local seller.
General Repossession Buying Information:
It’s always a wise idea to spend some time researching anything you plan to buy. Critics of buying repossessed cars will sometimes suggest that the prior owner didn’t take care of the vehicle. That’s neither a fair or accurate statement. For the most part bank and credit union repo’s are newer vehicles that are in great condition. This isn’t to say that a buyer should neglect the process of inspecting the repo car with the aid of a mechanic or other expert. The prices on repossessions can also be considerable lower because the bank isn’t in the business of making a profit on the sale. Their main goal is to cover as much of the underlying loan as possible and clean the repo from their balance sheet. Often times to entice buyers the bank will offer special financing on the sale of a bank owned repo. It can be as low as 0% APR. These are all questions buyers should ask each bank prior to making an offer.
Types of Repossessions in Georgia:
Georgia’s repo page is a free list of bank and credit union repossession sales featuring items such as cars, trucks, ATV’s, RV’s, boats, motorcycles, real estate, and more.