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Repo Car Auctions Aiea HI

Repo car auctions are a great source of used vehicles at bargain prices, if you know what you're doing. Repossessed vehicles of all types are available at auction sites all over the country. Learn how it works.

Island Auto Salvage
(877) 550-1262
91-445A Komohana
Kapolei, HI
 
Aloha Auto Auction
(808) 840-8900
1001 Ahua St
Honolulu, HI
 
Copart Auto Auction
(808) 682-8770
91-512 Awakumoku St
Kapolei, HI
 
Servco Auto Leeward Truck
(808) 564-1000
94-729 Farrington Highway, # 1118
Waipahu, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

King Windward Nissan
(808) 235-6433
45-568 Kamehameha Highway
Kaneohe, HI
Services
Radiator Repair,Tune up Repair,Auto Dealers

South Bay Auto
(808) 488-8040
98-360 Kamehameha Hwy
Aiea, HI
 
Insurance Auto Auctions Inc
(808) 682-2858
91-445 Komohana St
Kapolei, HI
 
Servco Pacific Inc
(808) 564-1000
94-729 Farrington Highway
Waipahu, HI
Services
Clutch Repair,Used Car Dealers,Auto Dealers

Cutter Dodge Chrysler Jeep WPH
(808) 564-9500
94-119 Farrington Highway
Waipahu, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Servco Pacific Inc
(808) 564-1490
45-655 Kamehameha Highway
Kaneohe, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Repo Car Auctions

What is a repossessed (repo) car?

When a car owner fails to make on-time loan or lease payments, the bank or finance company will repossess the vehicle — take it back. Typically, the buyer will be given a chance to catch up on payments or be made a payoff offer to recover the vehicle. If the buyer does not or can not get the vehicle back, the bank or lending institution takes it over and will sell it to recover some or all of the loan balance.

Repossessed cars are not the same as seized cars, impound cars, or unclaimed cars typically sold by police or government agencies. Repossessed cars belong to banks, credit unions, and finance companies.

Some smaller banks or credit unions may display repo cars in their own parking lots, with "for sale" signs in the window. These cars can be easily spotted when driving by the bank.

Most banks and finance companies hand over repo cars to a professional auction company. When the auction company sells the car, the bank gets the money, less a commission. Auctions can be public, private, or dealer-only auctions. Repossessed car auctions are sometimes mistakenly called "car forcloseure auctions."

When a bank or loan company sells repossessed cars, it wants to recover enough money to pay off the existing loan balance, plus any expenses for towing and storage and the fees of the professional repo company who picked up the vehicle.

In tough economic times, repossessions become mo...

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