Above you will see a summary of organizations around Wisconsin that have bank repo cars for sale, foreclosed homes, repossessed real-estate, RVs, and also watercraft. Banks and credit unions around Madison, Milwaukee, and various other towns and cities offer excellent deals for those who are curious. Since the loan companies are generally not making money in the property and automotive sales industries, they are usually ready to sell the reclaimed property or home at discounted costs to recover money lost in loans. Realize that the process for selecting the forfeited items can vary based on the policies of the bank.
Wisconsin Repossession Buying Information:
The State of Wisconsin has a reputation for one of the broadest selections of repossessed homes and vehicles for sale. Wisconsin bank repo’s are also a great way to save a few bucks the nest time you’re shopping for a vehicle or home. The banks are friendly and easy to work with. They’re more interested in customer service and lending than selling cars. Because of this they aren’t there to haggle prices or expose you to hard selling tactics. They simply list the repossessed items “as-is” and then let the public bid. Where you’re buying from a bank it’s also not a bad idea to ask for special financing perks for those you want to finance the new purchase. Bottom line is that it’s a huge value when you remove the commissions and fees but introduce the friendliness and trustworthiness you’d expect to get from a local bank. They aren’t emotionally attached to the vehicles in any way and just want to get them sold fast.
General Repossession Buying Information:
If you’re seriously considering purchasing a repossessed home or vehicle the rules are pretty much the same for any sale. The title on a repo won’t be branded as a repo. The fact that it’s a repo has no bearing on the title status. In fact a lot of cars that dealers buy at auctions were also repo’s at one point. In many cases the banks just ship them off to dealer only auctions to me churned out and remarketed. That being said, with any used car purchase you’ll want to get the facts about the vehicle’s history. Sources like Carfax offer service histories. You can also check for a window decal on the last oil change. Most lube and filter shops keep records too that might be available (assuming they went to the same place regularly). Feel free to let the bank know any concerns you might have too. They aren’t going to guarantee the vehicle but you might be surprised at how many repo’s still have the original warranty intact.
Types of Repossessions in Wisconsin:
Wisconsin’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.