Was looking to buy a excavator has anyone ever try to buy a repossessed machine wanted to know if it was a pain in the but.
Once the machine has cleared all repossession legal proceedings, it will be sold pretty much as a used machine like anything else. This also depends on whether or not it was dealership backed financing or MFG backed financing on the repossession end results. We don't do dealership financing, only MFG backed financing so were not involved with repossession directly. Once the machines are cleared, then they go up for dealership auctions and if no one purchase it from there, I would assume they just send it regular auctions. Don't know. Also don't know how other brands handle this.
Some times people are looking to sell their iron outright and take a huge hit just to be free ad clear of their debt with the machine also. But buyer beware, make darn sure the machine is free and clear after you purchase it... like contact the financing company that is holding the note yourself and make arrangements with them about pay off.