BrightStar Credit Union selling up to 90 repossessed cars - Sun Sentinel:
BrightStar Credit Union selling dozens of repossessed vehicles
BrightStar to sell repossessed cars
BrightStar Credit Union to sell repossessed cars at all-day event. (DAVID ZALUBOWSKI / AP)
By Donna Gehrke-White
Sun Sentinel
contact the reporter Automotive Industry Credit and Debt
Credit union selling dozens of repossessed vehicles.
BrightStar Credit Union will sell dozens of repossessed cars, trucks, SUVs and minivans at an all-day sale March 28.
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The sale, open to the public, will be from 8 a.m. to 4 p.m. at the Pompano Beach Elks Lodge, 700 NE 10 St., in Pompano Beach. It will also include more than 50 used cars from a local dealership to provide more variety of vehicles, organizers said. In all, about 100 vehicles will be sold.
The cars include a 2011 Honda Accord EX with a sunroof and 30,137 miles and a 2014 Toyota Camry SE with 30,756 miles.
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At the sale, BrightStar will offer interest rates as low of 1.79 percent for up to 60 months. Credit union members can take advantage of no loan payments for the first 90 days.
The credit union's sale will be larger than last June's event, which involved 60 to 70 repossessed cars.
Last year's sale proved to be a hit with consumers so BrightStar decided to return with a similar event that allows both both BrightStar members and non-members to buy cars at auction prices, some of them below Blue Book value. Usually lenders sell repossessed vehicles at auctions or auction websites.
"This is a great way to help our members and others in our community find quality cars at affordable prices and competitive interest rates, while making the car buying experience quick and easy," said Sam Chesser, vice president of marketing at BrightStar Credit Union.
The cars are being sold as-is. For the newer cars, if there is a factory warranty, that will be passed on to the buyer.
Nationwide, the auto loan default rate was slightly up in January to 1.03 percent from a month earlier, according to data released by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices.
BrightStar is one of the largest credit unions in South Florida with more than 55,000 members. BrightStar has branches in Davie, downtown Fort Lauderdale, Hollywood, Lauderhill, Margate, Pompano Beach and Pembroke Pines, with its headquarters in Sunrise.
For more information about the sale, call 954-486-2728 or go to bscu.org/autosale
dgehrke@sunsentinel.com or Twitter @donnagehrke