Fleet News

Repossessed cars go under hammer at Cars Direct

CARS Direct and Woodchester Credit Lyonnais have launched a monthly programme of finance company repossession sales. The first of the sales saw over 100% of CAP clean achieved on all the 55 vehicles and Cars Direct says it aims to realise the same sales returns for repossessed cars as it does for former fleet vehicles.

The initial auction included models from Porsche, Mercedes, Jaguar and BMW. Among the highlights were a 1993 Carlton which sold for 108% CAP clean, a 1992 Senator which went for 126% of CAP clean and a 1990 MR2 which sold for 147% of CAP clean.

Cars Direct and Woodchester Credit Lyonnais say they will ensure where possible that vehicles are sold with comprehensive documentation and fully-warranted mileage. All will be sold using Cars Direct's 'hammerless' auction method.

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