If you want to buy bank repossessed cars at the auctions with pre-owned vehicles for sale then there are a few things you need to consider before making a purchase. Remember that these financial institutions are bringing in vehicles due to non-payment and defaults by the previous driver (we refer to the person as the driver because they are not actually the owner in a hire purchase agreement until, or if, the full amount of money owed is paid off). This very often means that the previous driver has been struggling with finances which in turn often means that regular service maintenance and repairs on the vehicle have been neglected.
Having said that it is important therefore, before you buy bank repossessed cars from any of the auctions, to have an idea of what you are looking for to make sure you are not simply purchasing someone elses problem. Most auction houses will allow you to view in warehouses or store garages one or two days before the event. If you are not a mechanical expert, try and take someone along who has some mechanical knowledge to help you find potential problems. In most cases you will be allowed to get into the car, start the engine and examine it thoroughly but not take it for a test drive.
Examine things thoroughly looking for oil leaks and for obvious signs of damage and wear. The radiator and cooling pipes should be free of any leaks and providing the engine is not hot, open the radiator cap and check the condition of the coolant. If everything there is fine it should be a transparent coloured (green, pink or yellow) fluid. Start the engine and take note of how easily it starts and if it idles well. Uneven tyre wear is an indication that the wheel alignment or balancing is out, the suspension is not aligned or that the shock absorbers are worn. Check body work and make sure panels and doors are all aligned and nothing sticks out or looks out of place. These are just a few tips to help you buy bank repossessed cars at the auctions, we will cover more in up-coming features.