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Old 05 Jul 2007, 05:25 am
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Default Car bids start as low as 90% off the book value

Every day thousands of Americans default on their car loans or lease
payments... as a result, their new or almost new cars get repossessed
by the financial institutions and auctioned off in a hurry, because
the cost of storing the cars outweighs the banks' ability to try to
make the lost money back (same with police auctions, etc.).
Consequently, lucky people who have access to direct sources where the
cars are being sold would find themselves overwhelmed by dirt-cheap
offers that look unbelievable to the average car buyer. This is real
and is being taken advantage of by many car dealers.
So why wouldn't everyone buy a car this way, instead of the usual
going to the dealer or classified ads routine?
Because this is a very protected source of revenue for the majority of
car dealerships and is not advertised to the general public. However,
we have gathered enough information and access rights to be able to
let our members enjoy a multitude of the direct sources where one
could find their next vehicle with up to 90% savings off the book
value price.

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