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Is it vaiable to buy seized car through bank, What are the pros and cons.

By ARIF on Oct 9, 2009

Answers

  • Expert Hi,
    Buying seized vehicle has the advantage of lower price generally.But in many cases its value will depend upon loan amount left on the vehicle and also according to the estimate by the Banks.Availability is limited, also condition of vehicle cannot be gaurentied provided test drive and general check up is allowed , the decision depends uponthe Bank authority.
    Overall it will be worth buying such vehicle and you have to ensure transperency of deal includning clearence of loan and mainly the reason why the vehicle is seized, also check if there is any legal case going on between Bank and owner.There are instances of unfair deal also.
    Answer by Shiva Shankar on Oct 11, 2009

  • i need seized yellow board cars
    Answer by Shayeeb on Feb 14, 2016

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