How to Buy a Repo VW

The best place to get a repossessed -- or repo -- car is at an auction. However, car auctions are not usually not advertised. If you are looking for a repossessed VW, you will need to do some additional work to find potential auction facilities that may have the specific VW you're looking for. You will need to examine various sources, such as the bank and local car dealerships. With some persistence, you purchase a repo VW of your choice at a good discount.

Instructions

1

Go online to check the resale value and performance reviews of all VW cars. A good source is "Kelley's Blue Book." It will give you an idea of how much you would expect to pay for a pre-owned or used VW, based on vehicle specifications like interior packages.

2

Decide how much you can afford to pay for the VW. Auctions do not offer financing options. Winning a bid means putting down at least 10 percent of the sale price on the day of the auction and paying the remaining balance using cash, money order or credit card the following day or shortly thereafter.

3

Conduct a search for repossessed VWs. A good place to start is with the auto loan department at a bank. You can ask the representative about whether the bank has VWs in its inventory of repo cars. You can also ask the bank about which auction facility it uses to sell its cars. This may require some finesse on your part, since banks do not like to advertise their repos. Alternatively, ask a used car dealership about car auctions in the area. Explain to the car dealer that you are looking to buy a repossessed VW. Car dealers use auctions to buy cars at wholesale.

4

Bring an auto mechanic who specializes in VWs with you on the day of the auction. On auction day, you will have a limited amount of time to inspect vehicles. A mechanic can point out defects or issues, such as a rolled back odometer, that your untrained eye may not see.