My 2015 Mazda 3 was recently totaled. My insurer gave me within KBB value but I'm having a very hard time finding anything near the mileage and good shape mine was in (I bought it new and took care of it). Since I'd rather not wind up paying 1000 under MSRP when it was new for a damaged version of what I had, I'm considering some other options (I've looked at two now that salesmen claimed had no damage that had visible rust and other damage when I arrived at the lot and saw the vehicle in person so I walked away from those based on principle). I found one repossessed that looks to be in decent shape and the seller seems open to a much more reasonable price (the seller is a title loan place, which does seem suspect to me). I haven't had a mechanic inspect it yet, and I would assume a repossessed car has probably not been well maintained. Anyone have experience with repossessed cars? What's the general consensus? Avoid them?
I do have a backup vehicle (a 1995 Jeep Cherokee with 226k miles) so I don't feel I absolutely must buy something quickly but I would like to have something sooner than later. I've read multiple sources that claim used car prices will go down late this year or into next year. I've watched some of Scotty's videos where he doesn't seem to share that view. Any thoughts?
Well you never know about repoed car but generally let's face facts somebody doesn't pay on their car and it gets repossessed I'm assuming they don't do such hot maintenance on it either. But you never know if you do look at a repo car you need to have a guy like me check it out with a fine tooth comb before you buy it could be a decent vehicle but I would always be leery myself
and I would assume a repossessed car has probably not been well maintained
That’s generally the case. I would pass on that.
Thanks for the answer! Confirms what I was afraid of, I think I'll move on from considering it.