Repo or repossessed cars are often acquired at great deals. Buyers can get a repossessed car at a cost lower than the fair market value. If you are unfamiliar with the way that the repossessed car trade works, then buying a repo car can be a little tricky. As a buyer, you must also keep an eye out for the repo car deals. The most important thing that you need to bear in mind when buying a repo car is to be cautious. If the owner fails to pay his monthly dues on the car, then the lender is entitled to repossess the car. Here is a guideline on the ways on how to buy a repossessed car: