1) When buying a new car, the value of the car falls as soon as you drive it off the showroom floor. With repossessed cars, that value has already taken the plunge and it loses value more slowly.2) Depending on the brand, you save a lot of money on a repossessed car. Some brands lose value faster than other brands.3) When buying a relatively new re

Many people think that obtaining a car loan after repossession is impossible. While it is undoubtedly difficult, if you take the time to improve your credit score and develop excellent credit habits, it is possible to obtain a reasonable deal on a car loan after a six month to one year period has elapsed.

 Step 1: Keep an eye on listings in local papers Often police auctions will advertise upcoming dates along with a listing of items and vehicles for sale. Step 2: Look online. Step 3: Discover the terms of the sale. Step 4: Examine auction listings.