How To Buy An REO – Top 17 Questions Answered

How To Buy An REO – Top 17 Questions Answered:

'via Blog this'

FREE List of MISSOURI Bank & Credit Union Repo Sales - Cars, Boats, ATV's, Trucks, RV's, Motorcycles, Airplanes, REO Real Estate, Auctions, and More.

Missouri repossessions

1ST FINANCIAL FEDERAL CREDIT UNION REPO

ACADEMIC EMPLOYEES CREDIT UNION REPO

ALLIANCE BANK REPO (Real Estate)

ALLIANCE CREDIT UNION REPO

ARVEST BANK REPO (Real Estate)

BANK OF BOLIVAR REPO (Real Estate)

BANK OF ST. ELIZABETH REPO(Real Estate)

BANK STAR REPO (Real Estate)

BLUE CROSS BLUE SHIELD KC CREDIT UNION REPO

BLUE RIDGE BANK & TRUST CO REPO

BOONE COUNTY NATIONAL BANK REPO

BRANSON BANK REPO (Real Estate)

BRANSON BANK REPO (Vehicles)

CENTRAL BANK REPO

CENTRAL BANK OF LAKE OF THE OZARKS REPO

CENTRAL COMMUNICATIONS CREDIT UNION REPO

CENTURY CREDIT UNION REPO

CITIZENS BANK OF NEWBURG REPO

COLUMBIA CREDIT UNION REPO

COMMUNITY FINANCIAL CREDIT UNION REPO

CONSERVATION EMPLOYEES CREDIT UNION REPO

CSD CREDIT UNION REPO

DE SOTO MO PAC CREDIT UNION REPO

EDUCATIONAL COMMUNITY CREDIT UNION REPO

ELECTRO SAVINGS CREDIT UNION REPO

EMPLOYMENT SECURITY CREDIT UNION REPO

FIRST CENTRAL BANK REPO

FIRST COMMUNITY CREDIT UNION REPO (Real Estate)

FIRST FINANCIAL CREDIT UNION REPO

FIRST NATIONAL BANK REPO

GATEWAY METRO FEDERAL CREDIT UNION REPO

GOETZ CREDIT UNION REPO

GREAT SOUTHERN BANK REPO (Real Estate)

HAWTHORN BANK REPO

HEALTH CARE FAMILY CREDIT UNION REPO

JEFFERSON BANK OF MISSOURI REPO

LEAD BANK REPO (Real Estate)

LEADCO COMMUNITY CREDIT UNION REPO

MAZUMA CREDIT UNION REPO (Real Estate)

MECE CREDIT UNION REPO

MID MISSOURI CREDIT UNION REPO

MIDWEST CREDIT UNION REPO

MISSOURI CREDIT UNION REPO

NEIGHBORS CREDIT UNION REPO

NORTHWEST MISSOURI REGIONAL CREDIT UNION REPO

OZARK BANK REPO (Real Estate) 

OZARK MOUNTAIN BANK REPO

PEOPLES COMMUNITY BANK REPO

RG FEDERAL CREDIT UNION REPO

RIVER REGION CREDIT UNION REPO

ROCKWOOD BANK REPO (Real Estate)

SHOW ME CREDIT UNION REPO (Bottom of page)

SOUTHEAST MISSOURI COMMUNITY CREDIT UNION REPO

THE BANK OF MISSOURI REPO (Real Estate)

UNION BANK REPO (Real Estate)

UNITED CREDIT UNION REPO

UNITED LABOR CREDIT UNION REPO

VANTAGE CREDIT UNION REPO

WEST COMMUNITY CREDIT UNION REPO

Click here to search additional Nationwide Bank REO (Real Estate Owned) Properties

Above are different banks and credit unions which may have bank repo cars for sale throughout Missouri. Foreclosed assets, including boats, recreation vehicles, homes, cars, and pickups are currently on the market in Jefferson City, Kansas City, and other cities all around the state. Creditors that originally repossessed the actual collateral property or home are usually happy to sell items at a sizable price reduction, as their specialty is lending, rather than automobile and home sales. Each individual financial institution may have their own approach to marketing repo property.

How to Buy a Repossessed Car | eHow.com

How to Buy a Repossessed Car | eHow.com:

How to Buy a Repossessed Car

By an eHow Contributor

If you're in the market for a used car, someone else's financial misfortune could turn into a spectacular deal for you. Most auto loan companies try to re-sell the cars they repossess in order to recoup their losses. If they sell the car for more than the owner owes on it, the owner will get the difference. If it's sold for less than what's owed, the owner will have to pay. Either way, repossessed cars are often sold at considerable discounts off the Blue Book price and knowing how to buy them can save you a lot of money.

Instructions

1. • 1
     Call local auction houses and get the times and dates of upcoming repossessed car auctions. Most repossessed cars are sold via auction.
   • 2
     Contact local banks and ask whether they sell repossessed cars. Rather than paying the expense of an auctioneer, some small lenders choose to sell the cars themselves, either through a website or through their own on-site sale.
   • 3
     Call local used auto dealers. Both new and used auto dealers sometimes put repossessed cars back on the lot. Ask the dealers you call whether this is the case and whether they can show you some repossessed stock.
   • 4
     Browse the local newspaper for listings of repossessed auto auctions. Many times, banks and auction houses will take out large ads in the interior of the paper or list the upcoming sales in the auctions section of the classified ads.
   • 5
     Make sure you bring the correct form of payment to buy your car. When you call businesses that may have repossessed cars to sell, ask them what methods of payment they accept, so you'll know in advance what arrangements you need to make.
   • 6
     Examine the car thoroughly before you make an offer to buy it. Ask for a vehicle history report, if one exists. Also, be sure to check under the hood, look under the car, and inspect the interior for defects. If it's possible to take the car for a test drive before making an offer to buy it, do that to get an idea of how the car sounds and handles on the open road.

Tips & Warnings

• Be sure to take any car you're thinking of buying out for a test drive, and thoroughly examine its interior and under the hood, looking for subtle defects that may turn into big problems later on. You should also investigate the vehicle's history through a CarFax report, which you can get if you have the car's VIN number (see Resources below).

FREE List of IOWA Bank & Credit Union Repo Sales - Cars, Boats, ATV's, Trucks, RV's, Motorcycles, Airplanes, REO Real Estate, Auctions, and More.

1ST GATEWAY CREDIT UNION REPO

AFFINITY CREDIT UNION REPO

ALLIANT CREDIT UNION REPO

ASCENTRA CREDIT UNION REO (Real Estate)

ASCENTRA CREDIT UNION REPO (Vehicles)

CAPITAL VIEW CREDIT UNION REPO

CASEBINE FEDERAL CREDIT UNION REPO

CEDAR FALLS COMMUNITY CREDIT UNION REPO

CITIZENS COMMUNITY CREDIT UNION REPO

COLLINS COMMUNITY CREDIT UNION REPO

COMMUNITY 1ST CREDIT UNION REPO

COMMUNITY CHOICE CREDIT UNION REPO

DES MOINES METRO CREDIT UNION REPO

DU TRAC COMMUNITY CREDIT UNION REPO

DUPACO COMMUNITY CREDIT UNION REPO

FARMERS STATE BANK REO (Real Estate)

FEDERAL EMPLOYEES CREDIT UNION REPO

FIRST CLASS CREDIT UNION REPO

GUTHRIE COUNTY STATE BANK REO(Real Estate)

IH MISSISSIPPI VALLEY CREDIT UNION REPO

IOWA COMMUNITY CREDIT UNION REPO

IOWA HEARTLAND CREDIT UNION REPO

IOWA STATE BANK REPO

LAURENS STATE BANK REO (Real Estate)

LINN COUNTY STATE BANK REPO

MEMBERS 1ST COMMUNITY CREDIT UNION REPO

MEMBERS COMMUNITY CREDIT UNION REPO

MIDLAND CREDIT UNION REPO

NORTH IOWA COMMUNITY CREDIT UNION REPO

NORTH STAR COMMUNITY CREDIT UNION REPO

NORTHWEST BANK & TRUST COMPANY REPO

NORTHWEST IOWA CREDIT UNION REPO

POWER CO-OP EMPLOYEES CREDIT UNION REPO

PREMIER CREDIT UNION REPO

RIVER VALLEY CREDIT UNION REPO

TELCO TRIAD COMMUNITY CREDIT UNION REPO

THE FAMILY CREDIT UNION REPO

UNI CREDIT UNION REPO

UNITED CREDIT UNION REPO

UNIVERSITY OF IOWA COMMUNITY CREDIT UNION REPO

VERIDIAN CREDIT UNION REPO

Click here to search additional Nationwide Bank REO (Real Estate Owned) Properties

On this page you can find a list of organizations inside Iowa that have repo cars for sale, foreclosed houses, repossessed real estate property, mobile homes, in addition to watercraft. Credit unions and banks throughout Des Moines, Cedar Rapids, as well as other towns have excellent deals for investors who are curious. Since the financial institutions are generally not in the real estate and auto industrial sectors, they may be ready to offer the reclaimed home at low prices to recoup losses on loans. Note that the process for selecting repossessed property will vary in accordance with the procedures of a given bank.

Buying REO property from a bank.

Good advice on buying REO's.

10 Tips for Regret-Free Car Buying - MSN Autos

10 Tips for Regret-Free Car Buying - MSN Autos:

'via Blog this'

10 Tips for Regret-Free Car Buying

Spending too much for anything is a downer — especially a car. Here's how to beat the dealer at his own game.

By Sam Foley of MSN Autos

There's really no such thing as a professional car buyer, but there are 268,300 professional car salesmen in the United States, according to the Bureau of Labor Statistics. And while you may go into a dealership shopping for a new car only a half-dozen to a dozen times in your life, these guys are selling that many cars each week, so you can take it for granted that they know more than you about buying a car.

There's no doubt that most salesmen want to get you into a car that you'll be happy to own . It's in their interest to make you as comfortable as possible with the buying experience so that you'll recommend them to your friends, and then come back yourself when it's time to trade in for a new vehicle. But that doesn't mean they're not in the business for the money. It's a car salesman's job to make as much profit on each sale as he can get away with.

The car dealer has the home-field advantage, but with some preparation and savvy negotiating, you can place yourself in a much better bargaining position than the average rube off the street. Here we give you 10 tips for dealing with the savvy car salesman.

Tip 1. Browse with no intention of buying

The first time you go to a dealership, you shouldn't be looking to buy. Tell dealers that you're just looking and don't let them talk you into anything. Better yet, drop by on a day when the dealership is closed. You can roam around the lot and inspect the window stickers with no pressure whatsoever. Take notes on what you like, then return home and do some serious research.

Tip 2. Find out what the dealer paid for vehicle

You can't know the dealer's hand in a casino, but you can in a car dealership. "Knowledge is key," says Michael Royce, a former car salesman who now runs the website Beatthecarsalesman. "One of the most important pieces of knowledge a car buyer needs is the invoice price (the dealer's cost) of the car he wants to buy. Fortunately, the Internet makes getting that vital info easy."

Plenty of websites can give you the invoice price of any vehicle, so plan to negotiate up from there, not down from the sticker price. Make sure to get the invoice price that includes all the options you want, not just the base price of the vehicle — the options have a dealer markup, too.

Tip 3. Get an online price quote

In fact, get a few of them. Most dealerships have an online sales department that will get you a quote within two to three days. You can also use services such as Autobytel.com and PriceQuotes.com to cross-shop multiple dealers. You're under no obligation to pay the quoted price, and it can be a potent bargaining chip with other dealerships.

Tip 4. Get your paperwork in order

Print out the invoice price on the exact model you want with an itemized list of the options you're considering. Also, research any manufacturer incentives and rebates that apply to the car you're shopping for, and subtract those from the invoice price. If you are interested in financing, find out your credit score ahead of time; everyone is entitled to one free credit report each year from each of the three major credit reporting agencies. Also, shop a loan by researching the rates at competing banks and local credit unions. Write down all the numbers and bring all the documents to the dealership. If the dealer can't match or beat those rates, tell him you'll finance the car another way.

Tip 5. Forget about leasing

"Dealerships love to push leasing because it is so profitable for them, but leasing is almost always a bad idea," Royce says. "In a lease, you are simply renting the vehicle for a set period of time. Once that term expires, you must return the vehicle to the dealership with nothing to show for your years of payments."

Tip 6. Don’t talk financing or trade-ins until you’ve settled on a price

Click to enlarge picture

A dealer isn't doing you any favors if he gives you a deal on the new car, and then offers you $1,000 below market value on your trade-in. The new car, the trade-in and financing are three separate negotiations — treat them as such. It's always in your interest to get the best possible price on each transaction; that's why you should do your research ahead of time. If the dealer isn't hitting the numbers you brought with you, shop or sell elsewhere.

Tip 7. Don’t fail the test drive

Taking a new car out for a spin can be an exciting experience, but don't get too giddy. If the salesman sees that you've formed an emotional attachment to the vehicle, it may put him out of the mood to compromise. "The fact is that analytical car buyers pay less for their new cars than emotionally charged buyers," Royce says. So stay calm, ask questions and pay attention to the behavior of the car. Take your time and inspect the environment of the vehicle, make sure that it's comfortable and that the controls make sense to you. You're going to spend a lot of time in this car, so it's OK to nitpick.

Tip 8. Take a close look at the fees

Before you sign anything, take a close look at all the numbers on each contract to ensure they are what you agreed upon. Don't be surprised to find a number of fees on the sales contract, but be aware that some are standard, some are negotiable and some are simply outrageous.

Expect to pay sales tax, a destination charge, title and registration fees, and a modest documentation fee ($50 to $100 is reasonable, but don't be surprised if dealers in some states charge up to $300). Advertising charges, which are fees charged to the dealers by manufacturers, often get passed right on to customers. Feel free to push back on these, or at least demand a further break on the price of the vehicle. Then there are things like the "dealer prep fee," which Royce characterizes as an outright scam. "All vehicles must be prepped before being placed on the dealership lot," he says. "So you shouldn't pay extra for it."

Royce also warns against "market value" dealer markups on popular cars. "This can be anywhere from $500 to thousands of dollars," he says. "It only works if you agree to it." If dealers refuse to eliminate this fee, maybe you should consider a less popular car.

Tip 9. Don’t buy into pointless dealership services

As if predatory fees aren't bad enough, there are useless extras hawked by dealers, including rust-proofing, window VIN etching, fabric protection and paint sealant. All are utter scams. The truth is that all modern cars already have rust protection from the factory. VIN etching can be done yourself with a kit, but it is hardly the theft deterrent it's claimed to be. Fabric protection can also be done yourself with a spray can, and paint sealant is just a liquid wax you can buy at an auto parts store for $10. You don't need any of it.

Tip 10. Be ready to walk away

Don't forget that your entire leverage with the auto dealer lies in your ability to walk out the door. No car salesman is going to take a loss on a sale, but even a few hundred dollars is better than a dead deal. You don't need to be obnoxious about it, but be firm in what you're willing to pay and accept in the negotiations. If he's smart, the dealer will come to terms that are acceptable, make the deal quickly and try to pull a fast one on the next sucker. But if he insists on trying to gouge you, then gather your things and politely say goodbye.

The Seven Car Shopping Tips That Count - AutoTrader.com

The Seven Car Shopping Tips That Count - AutoTrader.com:

'via Blog this'

The Seven Car Shopping Tips That CountSource:The Car ConnectionJuly 9, 2007

The battle to get the price on your new vehicle starts long before you step in the showroom. Contrary to what your brother-in-law says, or your "friend in the business," buying a car for the best possible price takes time and research. What should you do before you even think of dropping by the local dealer? TheCarConnection.com recommends at least seven things before you sign on the dotted line:

Avoid six-year loans. These have become popular tools to get people into cars they might not otherwise be able to afford by lowering the monthly payment. However, stretching out the payments does not make the car more affordable in reality. The principal balance remains the same, and when you add in the interest/financing costs (and the depreciation in value over time of the car), people taking out six-year loans often end up "upside down" - owing substantially more on the loan than the car is worth. If you can't afford a car without buying into a six-year loan, buy a less expensive car.

Never talk monthly payment. Some people make the mistake of going into a dealership and telling the salesman they want to pay "no more than X dollars per month" - and the salesman is only too happy to oblige (see above). By focusing on the small picture (the monthly payment) you can easily lose track of the big picture (the total sale price plus finance charges). Focus on getting the best price for the car and the lowest possible financing first; worry about how much that works out to per month second.

Shop financing before you shop for the car. Even a great deal on a new car can be ruined if you buy into less-than-great financing. Before you start shopping for the car, you should look into how you'll pay for it. Many people have access to credit unions, which can offer more attractive rates than banks or the automakers' captive finance arms (GMAC, Ford Motor Credit, etc.). Never, ever go see the finance guy at the dealer without having looked into your options beforehand. Many people don't realize it, but you can haggle the financing just as you haggle the price of the car itself. Show the dealer's finance guy what your credit union (or bank) is offering and see if he'll beat it. If not, go with your best offer. A few calls now can save you a lot of grief later on.

 Get an insurance quote before you commit to buy. This is another area where unforeseen "peripheral costs" can turn around and bite you. It can cost a great deal more to insure a high-performance sports car or expensive luxury sedan than an ordinary family-type car - especially if you have a ticket or two on your driving record. And in every case, it will add to the bottom line if you're trading in an eight-year-old beater for a brand-new anything. Since insurance costs can be as high as $1000 annually or more, it's important that you factor these outlays into the total cost of ownership before you commit to buying. Ditto annual fuel bills. Take the EPA estimates you find on the car's window sticker and fold that into your calculations as well. If the combined monthly outlay exceeds your comfort level, you'd be wise to look into a less expensive model.

Look into depreciation rates. If you plan to sell or trade your new car down the road, how well it holds its value should be an important consideration taken into account before you buy the thing in the first place. Some makes/models are absolute disasters, losing half their original value in three or four years. Some do much better; the industry average is roughly 20 percent annually. If you plan on driving it until the wheels fall off, higher-than-average depreciation won't matter much (and you can actually score a great deal on such a car new or slightly used, for that very reason). But if you want the car to have decent trade-in value five or six years from now, it will matter a great deal indeed. Researching online and consulting used car pricing guides will give you a very good idea about which brands and individual models tend to hold their value well. Or not so well.

Know your trade-in. Don't just focus on getting the best possible price on your next new car; be equally sure you know the fair market value of your current car - so that you don't get taken on the trade-in. Consult used car pricing guides (National Automobile Dealers Association, Kelly Blue Book, etc.) to find out the retail/wholesale price range for your vehicle. You want to get as close to the retail value (and as far from wholesale) as possible. It's also a smart move to thoroughly clean the car up, inside and out - to make it as presentable as possible. Bringing a dirty, sad-looking trade only gives the dealer ammunition to nitpick it to death - and throw a lowball offer your way. 

Take it for a real test drive. Not just a quickie around the block - as many people make the mistake of doing. A short drive will not tell you how the seat will feel after a couple of hours on the road. And you won't know the car has inadequate power for safe merging/passing unless you take the time to do some freeway driving. Family members who will be spending time in the car should also get the chance to try the car out with you. Otherwise, you'll be living with their complaints (and maybe a sore backside if the seats turn out to be too hard) for the next several years. Insist on an at least an afternoon's test drive before you buy. Most dealers will accommodate this entirely reasonable request. If not, better to walk away and try someplace else. Otherwise, you're buying a pig in a poke.

HowStuffWorks "10 Car Shopping Tips"

HowStuffWorks "10 Car Shopping Tips":


10 Car Shopping Tips
»
Start the Countdown |
Hybrid Cars Image Gallery
See more pictures of hybrid cars.
Knowing what you want -- or need -- before you start making the rounds of dealerships can save both time and money. It's human nature to go looking for a practical family vehicle like a minivan, but be distracted in the showroom by a flashy sport sedan that costs more. Also, more buyers than ever are climbing out of passenger cars and into light trucks -- sport-utility vehicles, minivans, and pickups. Light trucks now account for 55.5 percent of new vehicle sales. Whatever the model, if emotion drives you to an impulsive purchase, you are likely to pay more and suffer regret later.
While the nation's economic recovery has been sluggish during the past year or two, new vehicle sales remained reasonably strong, topping 16.86 million units in 2004. That was an increase of just 1.5 percent compared to 2003, according to the National Automobile Dealers Association (NADA).
With so many brands and types of vehicles to choose from, consumers have more possibilities than ever. So, automakers have to fight for every sale. Record-high incentives in the form of cut-rate financing and/or cash rebates, which averaged more than $3100 in 2003, certainly helped move the metal. Raj Sundaram, president of the Automobile Lease Guide, predicts average incentives near $3600 in 2005.
Affordability remains a key issue among shoppers, especially since the average cost of a new vehicle reached $28,050 in 2004 (according to NADA). Fortunately, initial price increases for 2005 were largely moderate. Many manufacturers are expected to continue offering tempting incentives on some or all of their models during the months ahead.
Overall vehicle affordability has actually been improving steadily, according to monthly estimates by Comerica Bank. In 2004, the average new vehicle cost $28,050, approximately 22.4 weeks of median family income. On average, new vehicles were more affordable in 2004 than they'd been in the previous 25 years.
Even if cars are more affordable these days, it makes good sense to explore all your options and make informed, practical decisions. In this guide, we’ll arm you with some key survival tips.

FREE List of Minnesota Bank & Credit Union Repo Sales - Cars, Boats, ATV's, Trucks, RV's, Motorcycles, Airplanes, REO Real Estate, Auctions, and More.

ACCENTRA CREDIT UNION REPO

BANK CHEROKEE REO (Real Estate)

BORDER STATE BANK REO (Real Estate)

CENTRAL MINNESOTA CREDIT UNION REPO

CITIES CREDIT UNION REPO

CO-OP CREDIT UNION REPO

DULUTH TEACHERS CREDIT UNION REPO

ELECTRIC MACHINERY EMPLOYEE CREDIT UNION REPO

ELECTRUS FEDERAL CREDIT UNION REPO

FIRST ALLIANCE CREDIT UNION REPO

FIRST NATIONAL BANK OF BAGLEY REPO

FIRST NATIONAL BANK OF MENAHGA REO (Real Estate) (bottom of page)

FIRST NATIONAL BANK OF WALKER REPO (Real Estate)

FIRST NATIONAL BANK OF WALKER REPO (Vehicles)

FIRST STATE BANK OF WYOMING REO (Real Estate)

FULDA AREA CREDIT UNION REPO

GLENWOOD STATE BANK REO (Real Estate)

GRAND MARAIS STATE BANK REO (Real Estate)

GREAT RIVER FEDERAL CREDIT UNION REPO

GREATER MINNESOTA CREDIT UNION REPO

HERMANTOWN FEDERAL CREDIT UNION REPO

HIGHLAND BANK REO (Real Estate)

HIWAY FEDERAL CREDIT UNION REPO

LAKE STATE FEDERAL CREDIT UNION REPO

LAKES STATE BANK REO (PDF)

MEMBERS COOPERATIVE CREDIT UNION REPO

MINNESOTA POWER EMPLOYEES CREDIT UNION REPO

NORTHERN COMMUNITIES CREDIT UNION REPO

NORTHRIDGE COMMUNITY CREDIT UNION REPO

NORTHWOODS CREDIT UNION REPO

REPOSSESSORS INC

ROYAL CREDIT UNION REPO

SOO LINE CREDIT UNION REPO

ST. CLOUD FEDERAL CREDIT UNION REPO

STATE BANK OF FARIBAULT REO (Real Estate)

STEARNS BANK REO

TCF FINANCIAL REO (Real Estate)

TRUSTAR FEDERAL CREDIT UNION REPO

TWO HARBORS FEDERAL CREDIT UNION REPO

UNITED EDUCATORS CREDIT UNION REPO

VILLAGE BANK REO (Real Estate)

WEST FINANCIAL CREDIT UNION REPO (PDF)

WOODLANDS NATIONAL BANK REO (Real Estate)

Click here to search additional Nationwide Bank REO (Real Estate Owned) Properties

On this page you can see several banks and credit unions which may have repo cars for sale in Minnesota. Foreclosed property, such as watercraft, RVs, houses, cars, or trucks are presently available in St. Paul, Minneapolis, as well as other cities all over the state. Creditors that originally repossessed the particular secured property are regularly prepared to sell items for a sizable price reduction, since their department is in lending, but not vehicle or realty. Every financial institution has a different approach to selling repossessed goods.