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Old April 18th, 2008, 02:18 PM   #1
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What would you offer...


I'm looking at a 2007 Tahoe at my bank that's a repossession. It's listed at $30,700, and it's in great shape, but has almost 40K miles on it. I was thinking about putting a bid in for $20K. It's cloth interior, nothing really extra on it, but it's a really nice driving vehicle, and aside from needing to be vaccuumed a little, can't really find anything at all wrong with it.

Is $20K reasonable?

Should I even bother looking at repo's?

I'd like something that I can travel with, that rides better, and so I can have the ability to work on the 'stang for major stuff, but still be able to get around.
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Old April 18th, 2008, 02:22 PM   #2
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only buy repos from another town
they might want it back
but hold on i don't know the pricings on the new tahoes
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Old April 18th, 2008, 02:24 PM   #3
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kbb in my area, with the lowest options, (like none checked in ) says 25k
prolly would be more in florida i would guess
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Old April 18th, 2008, 02:26 PM   #4
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I'm not sure what Tahoes go for, but my boat was a bank repo.

It was a year old with less than 100 hours. I got it for $22,500.

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Old April 18th, 2008, 02:30 PM   #5
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I was talking to my dad about it, and he was telling me he wouldn't really mess with Repo's. He said that if they don't care enough to pay for their car, then you don't want to know what else they didn't care to do. But it's a military bank, so a lot of times young airmen get cars they can't afford, or people deploy or get divorced or seperate and can't get a job etc etc etc...

So I'm between whether or not I can get a really good deal, or if I might be screwing myself.

I couldn't hear any weird noises, no leaks, everything looks great. I think I'm gonna go ahead and offer the $20K
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Old April 18th, 2008, 02:35 PM   #6
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i dont know much about repos but where do you go about looking into them???
 
Old April 18th, 2008, 02:35 PM   #7
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Ah ha. And I just read that if my offer is accepted, I could have the vehicle inspected at my expense, and can withdraw my offer for any reason at anytime before the closing.

I'll be back. Heading back to the bank.
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Old April 18th, 2008, 02:36 PM   #8
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Originally Posted by mustangrebuilder View Post
i dont know much about repos but where do you go about looking into them???
The bank here just has a portion of their lot full of Repo's, and during the weekend they put them all out front. So I just walked into the bank and asked em about it.
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Old April 18th, 2008, 02:46 PM   #9
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low ball the shit outta them for sure. Its not like a private seller or a salesman where it will get personal if you don't offer them enough. Its an institution so just go low and keep moving it up til you hit the right number.
 
Old April 18th, 2008, 02:52 PM   #10
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I figured $20K was low enough to where I'd get a damn good deal, and one that they would seriously consider, and if they turn it down, then I'll come back with nothing over $22K. If they turn that down too, then oh well. Looks like I'll continue driving my stang
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Old April 18th, 2008, 02:56 PM   #11
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i have only looked at one repo so with my 1 expericne it was an 03 cobra and the machanics just happend to be there and they told me a bit about the car and pretty much told me that the car was ragged to shit. i think it had 30k missing a lugnut car would not stay started. that right there kept me away from any more repos. But im sure if you just look enough you can come by some really good deals like this one might be??
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Old April 18th, 2008, 03:02 PM   #12
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Yeah

It's not really a necessity for me, but I drive from Florida to North Carolina a lot, cause that's where my parents live, and I just wanted something bigger that I can actually fit stuff in, that rides better, and wouldn't have to worry about putting that many miles on my mustang. It's just convenience for me, so if nothing happens, or the inspection sucks, I'm not really gonna be bummed about it
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Old April 18th, 2008, 03:09 PM   #13
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20k...buy another mustang or a nice truck like a silverado or a f-150 lightning
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Old April 18th, 2008, 05:36 PM   #14
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i never thought about looking into repos..will do that in the future
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Old April 23rd, 2008, 01:29 AM   #15
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so whats the word on the tahoe?
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Old April 23rd, 2008, 03:37 PM   #16
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They countered with $26,500, and I countered back with $22,500

They called today and said the manager declined. I told her to let the manager know they're trying to sell a year old vehicle with 40K miles for $3,000 over trade-in value. If they really think it'll sell for more than $23K they're crazy, and they're going to have to lose a lot of money when they take it to a repo auction.


We'll see if they call back. If not, and it's sitting there in the parking lot in a few more weeks, I'll put my $20,000 bid back in.
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