Repossessed Cars To Be Sold Off
Banks Forced To Cut Their Losses
Mays Landing, NJ –
The downturn in the
economy has driven
the vehicle repossession rate to record high
levels. High repossession rates can be a
crisis for many banks.
When the bank repossess’ a vehicle they are
forced to incur the cost
of repossession of the
vehicle and the cost of
getting these vehicles
to auction in order to
sell them off. If the vehicle does not sell at the
auction the bank has to
return the vehicle to the
storage lot and then attempt to sell at the next
auction. Enormous
transportation, storage
and security expenses
are incurred with this
process. It has become
harder for the banks to
keep up with the repo
rate due. Dealers now
have access to the tremendous amount of
low mileage lease returns that come back
every month and all
the rental car companies now sell their fleet
directly to dealers. It
is easier for a dealer to
take a lease return or
off rental vehicle and
re-sell it rather than to
deal with a repo. This
is what has created a
crisis for the banks; too
many repos, no one to
buy them. The longer
these cars sit, the bigger
the losses are for the
banks. “Well that is all
about to change now”
according to Glenn B.
Riedel, General Sales
Manager at Shore Toyota.
“The auctions and
banks have asked us
to help and I think we
can,” says Riedel as

he sits in his office at
Shore Toyota on the
Black Horse Pike, “we
will be selling auction
bought, repossessed vehicles and trade-in cars
and even some rental
fleet vehicles. This is a
bargain hunter’s dream
come true. You can
come in and take on
payments on over 100
late model used vehicles, at bargain basement prices. Vehicles
can be sold for their
outstanding balance
to the banks. You can
save up to 50% off of
original MSRP^ prices.
These savings are absolutely incredible. No
haggling; each vehicle
is clearly marked for
quick sale, first come,
first sold.”
A Real Bargain
“This is a once in a lifetime opportunity for
someone to come in
and get a real bargain,”
adds Glenn B. Riedel.
“Our staff has even
told their families and
friends to come down
and we’ve notified
some local churches
and charities to come
down as well to take
advantage of these
low prices. We want
to make sure the local
community benefits
from this event. You’ll
find all kinds of cars,
trucks, vans and sport
utilities from 6 months
old to 6 years old.”
“We will also be offering CarFax History Reports on every vehicle.
You can drive home
with confidence. If I
were in the market for a
quality pre-owned certified vehicle, I would
definitely come down

credit negative equity
can be carried forward
with any trade which
means we can pay off
your trade no matter
E-Z Auto Credit
In order to move these how much you owe.
vehicles, Shore Toyota
endeavors to achieve a
This event will
100% credit approval
be held at
rate. All you will need
is a proper down payTOYOTA
ment. Disposed bankruptcies, prior repos, 4236 Black Horse
charge-off, tax liens, Pike. For further
every credit applicainformation
tion will be accepted.
You can come in and
drive away in a quality late-model vehicle
like a 2012 Hyundai Friday, March 17th
Accent for only $149 through Monday,
per month* with a $49 March 20th. This event
down payment. If you is open to the general
work, you can drive. public only!
We want these vehi- No dealers please.
cles moved. This event
will take place Friday,
March 17th through All purchases exclude
Monday, March 20th tax, title & registration
only at Shore Toyota. fees. *Finance example
avail. on a pre-owned
Top Dollar Paid 2012 Hyundai Accent,
for Your Trade
Wholesale representa- VIN #CU039089, 4
tives will be on hand for cyl, auto, 65,284 mi.
this event. Wholesalers Finance for $149 per
have been authorized month for 72 months
to offer very liberal with a $49 down
trade-in allowances payment @ 3.9%
toward the purchase
of one of these vehi- APR. Total payments
cles. This is a perfect $10,728. ^Discount
opportunity to trade in example avail. on a
and trade up at unheard pre-owned 2015 Toyof savings. Trades can ota Corolla LE, VIN
be made to lower your #EJ016597, 4 cyl, auto,
monthly payments. 38,171 mi., Original
Your trade will be your
down payment. In most MSRP: $20,580, Sell
cases you can just sign Price $10,290. Suband drive with a trade, ject to approved Tier
just add tax, title and 1 Credit approval. SeDMV processing fees. verity of credit will afJust bring your title and fect down payment and
payment book if any,
and Shore Toyota will APR. Bankruptcies
make the deal happen must be discharged.
for you. With approved Offers expire 3/20/17.

early for the best selection. I may not have
bargains like this ever

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