No, junk car buyers will not purchase a repossessed vehicle. A repossessed car means you no longer own it. The lender now has possession, and you cannot sell something you don't own.
Once a vehicle is repossessed, the lender will sell it at an auction to try and recover the loan balance. If the sale doesn't recover the balance then you may owe a deficiency which can be sent to collections and result in a lawsuit.
If you have a vehicle that may get repossessed, you have a few options. The best option is to catch up on your payments. If you can no longer make the payments you can sell the car, try to negotiate with the lender for voluntary surrender, or refinance the loan if you have equity.
Selling before repossession can be beneficial. Junk Car Buyers may offer more than an auction, which can help you avoid repossession on your credit report. You would still need to pay any deficiency, but you control the sale.
