Repossession long term value

[Igs]

Thoughts on buying a '14 M5 that has a repossession on title?

Car is in good condition, but curious how members feel about this.

Maintenance seems to have been followed on a timely bases with no gaps, and was sold at auction right after repossession.

Thanks

[TrevorM3]

buy my 14... mcb over silverstone

[M6-Coupe]

Buy the 2015 or newer

[LA-M55]

Originally Posted by TrevorM3

buy my 14... mcb over silverstone

No

[TrevorM3]

Originally Posted by LA-M55

No

i think you and the guy above you have an internet crush on me.

it's odd, and mildly disturbing.

[LA-M55]

Originally Posted by TrevorM3

i think you and the guy above you have an internet crush on me.

it's odd, and mildly disturbing.

No your just a nerd who sits on the forum and posts like it's your job. You have over 4000 posts. U must not have too many friends or much to do. Do you live in dads basement?

[SpiderM5]

I think typically repossessed cars are bad because they may not have had the money to maintain it properly. But a 14 should have free maintenance so it shouldn't be an issue. It is a mark on the title/carfax so if you're worried about it, so is the next buyer when you sell. For an M5, I didn't want to compromise so I wanted full options and maximum warranty. So I would pass and get a clean car the way you want it.

[Vic55]

Repossessions should not show on titles.... generally manufacturer buybacks report, and total loss/salvage issues do. Ive seen many repos run thru the BMW and other moniker lanes at the auction that were repo's- no branding on those titles.

The main concern I would have with a repo is the condition because they generally are not kept in the same manner as those cars owned by people who pay timely.

[Igs]

Originally Posted by Vic55

Repossessions should not show on titles.... generally manufacturer buybacks report, and total loss/salvage issues do. Ive seen many repos run thru the BMW and other moniker lanes at the auction that were repo's- no branding on those titles.

The main concern I would have with a repo is the condition because they generally are not kept in the same manner as those cars owned by people who pay timely.

The car in question seems to be maintained properly and at the correct intervals based on the carfax report with no gaps. However in order to title the car, the state is asking for the affidavid of repossession and I've seen plenty of carfaxes that show a repossession without an accident, total losses, or anything else linked to said repossession.

So my guess is that it will show up as soon as I title it with the state.

I guess I should clarify that the repossession will show up on Carfax, rather than the title itself. And that alone will drive the value down on a future sale.

[Vic55]

Originally Posted by Igs

The car in question seems to be maintained properly and at the correct intervals based on the carfax report with no gaps. However in order to title the car, the state is asking for the affidavid of repossession and I've seen plenty of carfaxes that show a repossession without an accident, total losses, or anything else linked to said repossession.

So my guess is that it will show up as soon as I title it with the state.

I guess I should clarify that the repossession will show up on Carfax, rather than the title itself. And that alone will drive the value down on a future sale.

Interesting, I have never seen a repo disclaimer on Carfax but I have seen: stolen/recovered, accident, auction sale, manuf buy back, etc.

If you have the carfax can you link me?

[Igs]

Originally Posted by Vic55

Interesting, I have never seen a repo disclaimer on Carfax but I have seen: stolen/recovered, accident, auction sale, manuf buy back, etc.

If you have the carfax can you link me?

The Carfax for the car in question is currently clean, but its being sold through an "internet" dealer with an affidavid of repossession. The state will not title the car to me without the repossession documentation. My concern is that it will come up once I title it and show the documentation.

Saw people post questions about a repossession notice on a carfax, so wanted to see what the M5 board thinks.

[Vic55]

Originally Posted by Igs

The Carfax for the car in question is currently clean, but its being sold through an "internet" dealer with an affidavid of repossession. The state will not title the car to me without the repossession documentation. My concern is that it will come up once I title it and show the documentation.

Saw people post questions about a repossession notice on a carfax, so wanted to see what the M5 board thinks.

I understand the titling process and why the state needs the repo affidavit but I'm fairly certain Carfax does not report repossessions.

If the process goes as it should, you will buy the car and title it. Carfax will report a new title and owner with a date but wont state repossession.

[stealth.pilot]

Originally Posted by Igs

The Carfax for the car in question is currently clean, but its being sold through an "internet" dealer with an affidavid of repossession. The state will not title the car to me without the repossession documentation. My concern is that it will come up once I title it and show the documentation.

Saw people post questions about a repossession notice on a carfax, so wanted to see what the M5 board thinks.

I think you should buy it if the maintenance checks out, the car itself passes independent inspection, and the price is great. I wouldn't care if it was repo as long as it was maintained and looked after.

[M6-Coupe]

Originally Posted by LA-M55

No your just a nerd who sits on the forum and posts like it's your job. You have over 4000 posts. U must not have too many friends or much to do. Do you live in dads basement?

+1
He looks like a stealer trying to bash all cars and sell his cars too

[momos750]

Repossessions do show up on Autocheck and Carfax but do not have any affect on the title.
Typically the Autocheck or Carfax will show the date and location that the repossession took place.
I have personally seen these records on cars I have considered purchasing in the past.
Like others have said above as long as the car was taken care of and serviced per manufactures specs it should not have any affect on resale value.
Having said that I would only purchase the car if it was still under the manufacturers warranty.
Also....try to get all service records from where it was serviced originally. It will take the guesswork out of any future transactions as to whether it was serviced properly.

[GladiatorOwner]

To be clear, you guys are not talking buyback/lemons right? Repos are just cars that owners didn't pay on right? Or something in that vein...

[Igs]

Originally Posted by GladiatorOwner

To be clear, you guys are not talking buyback/lemons right? Repos are just cars that owners didn't pay on right? Or something in that vein...

Correct.

Thanks for the feedback guys, except for the ones that have some weird feud going on.... you guys should kiss and make up.

Thanks

[M6-Coupe]

Originally Posted by Igs

Correct.

Thanks for the feedback guys, except for the ones that have some weird feud going on.... you guys should kiss and make up.

Thanks

We are just friend... trying to have fun. And he is an expert guy in car business and that's why we are pulling his leg to be educated

Sorry for

[mirob]

This one right here shows the repo on the CF.

https://www.carfax.com/VehicleHistor...FV9C50DC773751