One Response for "Where can I find repossessed sports cars?"

1. ElGrande January 27th, 2010 at 5:21 am

   The first answer is spam.

   There are indeed auctions for exotic vehicles, but you’re not going to go out and find a bargain… if that is your motive. Young kids come on here all the time and ask if they can find some magic auction where they sell exotics for $10,000. Doesn’t happen.

   Usually, these cars are paid for with cash. Most folks that own them do not finance them, so they’re hardly ever repo’d in the literal sense, they are usually taken when a lender or court seizes assets. If the car is auctioned off to pay for whatever debt is owed, they usually don’t go for bargain-basement prices. And, the folks that purchase these cars in this manner know what they’re doing. These folks then turn around and sell these vehicles at market prices.

   So, sorry… sites like you want do not exist.

   If you’re serious, find yourself an auto broker that attends these auctions, tell them what you want and your reserve price… they’ll try like heck to locate one or get one at auction. But if you walk in there and tell them you want a new Lambo for $50K, they’ll laugh at you and wish you a good day.

   Hopefully (and based by your other questions, you haven’t done this) you’ve researched everything involved with owning an exotic. Maintenance costs on exotics are extremely expensive. Insurance is outrageous (and you don’t call Geico for that). If you enjoy spending $350 on an oil change, have at it. Need new brakes? Cough up $4000.

   I will give you credit, though… unlike the kids who come on here asking this same question over and over, at least you spelled “repossessed” correctly.