If you’re seriously in need of a car, but can’t buy a new one (let’s face it, few people today can) you don’t need to despair. There is a very cost effective option that surprisingly few people know about - bank repossessed cars. People might be sceptical when they hear the term, thinking that there is something “wrong” with these cars, but in truth they are usually in great condition. Bank repossessed cars are ones where the previous driver couldn’t fulfil his payments, or took too long to do so. In these cases the bank or financial institution responsible for the loan repossesses the car in order to sell it privately (to car dealerships for example) or publicly (at auctions for example). These cars have to be sold quickly, seeing as how the bank wants to limit its losses and recover the remaining amount in as short a time as possible.