repo

truckwife · May 23, 2004

My husband and I read about someone getting a good deal on a repossed
expediter truck. We are not trying to take advantage of someone elses
misfortune but if it has already been repoed we would like to check on maybe taking over payments on one like this. Could someone give a website or phone number to one of these locations that have these trucks in their possesion.

Hope this doesnt sound Bad
TenTen

ATeam · May 23, 2004

I wouldn't be overly concerned about the feelings associated with purchasing a reposessed truck. As you stated, the truck has already been reposessed. The truck may have been reposessed due to a driver's misfortune. More likely, it was reposessed due to a driver's mis-management. Either way, you have no duty but to yourself when you purchase a reposessed truck.

Every once in a while a repo or a driver that is trying to avoid a repo and the bad credit rating that would accompany it shows up in the Free Classifieds section of this web site (www.expeditersonline.com). Check it out. Maybe you'll get lucky.

If it is a situation where a driver needs to sell now to avoid a credit disaster, you'd be doing him or her a favor by helping cash out of the truck. That driver needs what you have (money). You want what the driver has (low priced truck). It would be a fair exchange.

It's interesting to note that with the economic turnaround of recent months, truck repos have dropped by about 50%. Fuel price increases, if sustained, may take things in the other direction.

In your own business planning, you can learn a great deal from people that lose their trucks. Think hard and plan ahead so YOU won't be the next person to sell a truck you don't really want to sell.

Larry · May 23, 2004

I purchased a repossessed 1998 Freightliner FL70 about 3 years ago. I made an offer to the finance company for about $10,000 less than they had listed for the truck. (I have no idea if they really expected to get that price.)

A few years ago, Freightliner dealers were storing repo's for the financial arm of Mercedes and being paid a flat monthly fee for keeping the truck. When the truck was sold, the dealer got another small fee. I found out what the dealer offered the finance company (which had been refussed). I asked the dealer what they knew about the condition of the truck and then had a mechanic (family member) go over the truck on my behalf. I then made an offer and after a slight bit of negotiating, I got the truck. I wish I knew then what I know now about CAT 3126 engines, but really have no complaints. The truck has over 450,000 miles and runs strong. (I just have this nagging fear that this little 250hp is going to quit on me.) The truck is not use for expediting, but do travel from Minn. to Maine to Florida with my business.

When buying a repo (or any used vehicle), you have to depend on others and your instinct. Have the truck evaluated by an independent mechanic. See if you can get any history on the truck from the dealer. A lot of the service work (especially warrenty) should be on file. Don't be bashful with the seller. They are not your friends, but rather are looking out for themselves. You can become friends after the sale.

Don't go to Iowa to test drive a truck you plan to use in Pennsylvania. Put the truck under load (or up a mountain) when test driving. Any used truck is going to require mechanical work. The farther out of warrenty, the more work you will be paying for or doing yourself.

Go through the archives of this web site and you will find a lot of useful information from Weave and others about wrenching on a truck.

Good Luck & Drive Safe

geo · May 23, 2004

ask for maintance records if they can't give them to you stay away from that truck

expeditesales · May 24, 2004

http://www.expeditersonline.com/hotnews/censored.jpg

dieseldiva · May 25, 2004

>I have 3 units in stock that you can assume the loan without
>a down payment. You would however need to come up with 2
>payments to take possession. All 3 units are 2003 model year
>with warranty.
>
>Don Portice
>Alumi-Bunk

Gee, I really would love to post ALL the negatives concerning this company to warn others but I know it would be censored within the hour. Funny how this free advertising post isn't touched, I guess if it survived 24 hours it must be here to stay!!

Of all the things I've lost in my life, I think I miss my mind the most!!

Lawrence · May 25, 2004

DD,

Anything for you!

:* :* :*

Lawrence,
Expediters Online.com

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davekc · May 25, 2004

I have bought several trucks that were repos. Going straight to the bank is the most economical. You are buying a truck on the failure of a previous owner. Very much like expediting in the fact you are (or your company) capitalizing on the mistakes or misfortunes of a particular company and needs there freight delivered faster than what would be industry standard.
I quess I am terrible, but I am not feling too guilty.
Make sure you have them completely inspected, including a dyno test to ensure they are not trashed. Most repos come with no records. Same at auctions.
Forget doing a oil sample test as it may not be accurate, unless you know EXACTLY when it was changed. Newly changed oil will tell you nothing.

Larry · May 26, 2004

You are correct. The best way to get results from oil analysis is to be able to compare to previous oil tests. Then you can get an idea of what is going on in that engine. 99% of the time a truck is reposessed because the owner is losing money and unable to keep up with payments. That also means they are probably not keeping up with preventative maintenance. You really need the maintenance records.
Drive Safe

RichM · May 27, 2004

My biggest concern about a repo is that if the owners couldn!t make the payments,did they do any maintenance. I would want to see maintenance records and if none could be found I would back away.You many think there is some warranty left but if the scheduled maintenance was not performed,the manufacturer may not honor their warranty,and who could blame them. Now someone who wants to sell a truck in order to get out of the business is a different story.
It!s a risky decision to buy a repo,I would buy it from a truck dealer and get guarantees and warranties in writing.