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Still Doin Time
Join Date: Nov 2004
Location: Nokesville, Va.
Posts: 8,225
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In order to legally take possession of the vehicle, the lien holder would have already gone through many hoops to repossess and then offer the car for sale. At that point that entity wants their money out of it quickly and cleanly.
It does not matter what the prior owner / borrower owes at that point. The lien holder sells the car for what they can quickly then they go after the last owner(s) for the difference of what the car sold for plus balance of loan, plus fees , plus anything else they can (state by state) recoup their losses for.
If the car is very high dollar or rare there will be more effort and time spent getting the highest offer.
But beware!!!!!!! Buying vehicles at the impound lot almost always precludes any type of test drive, testing other than sitting in it and starting it. There is no warranty and typically the lot adds their own fees for the final transaction that you cannot opt out of. This is what buyers need to be concerned with
So beware............
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'15 Dodge - 'Dango R/T Hauls groceries and Kinda Hauls *ss
'07 Jeep SRT-8 - Hauls groceries and Hauls *ss Sold
'85 Guards Red Targa - Almost finished after 17 years
'95 Road King w/117ci - No time to ride, see above
'77 Sportster Pro-Street Drag Bike w/93ci - Sold
Last edited by asphaltgambler; 07-25-2019 at 03:14 PM..
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