Repossessed cars

I have always been fascinated by the possibility of buying bank repossessed cars as an alternative to buying a brand new car because of the simple fact that cars really lose a big chunk of their value once you drive it home and why not buy it afterwards so that you can get it cheaper right?

I know there maybe repossessed cars out there that have already been thrashed by their previous owners so aside from bringing along a trusted mechanic to avoid those that are already junk, why not buy repossessed cars that are still within the manufacturers warranty so that problems can still be fixed at no cost right?

For example, what if I happen to find a 2 year old repossessed Hyundai Getz that is covered by 5 years warranty, it would be a good buy since I can still have any problems fixed by dealership right? Sounds good to me!

Now I just need to find banks that have bank repossessed cars for sale here in the Philippines. So far I have found two listings of bank repossessed cars for sale and these contain BPI repossessed cars and RCBC Savings Bank repossessed cars. Check out the repossessed cars here.

Feel free to let me know if you also find other banks that offer repossessed cars for sale. Thanks!