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Repo Car Auctions Aiken SC

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.

Augusta Auto Auction Inc
(803) 279-3234
1200 E Buena Vista Ave
North Augusta, SC
 
Barnes Used Cars
(803) 278-3345
838 Edgefield Rd
Belvedere, SC

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Courtyard Marriot
(334) 552-2869
1469 Swanee Quintet blvd
augusta, GA
 
Insurance Auto Auctions
(877) 550-1262
912 Poinsett
Greenville, SC
 
Charleston Auto Auction
(843) 719-1900
651 Precast Ln
Moncks Corner, SC
 
Ladd Britt Auto Sales
(803) 649-1038
2270 Whiskey Rd
Aiken, SC

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Waller Auto Co
(803) 266-7062
13073 Main St
Williston, SC

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Esm Used Cars
(803) 266-4301
10301 US Hwy 78
Elko, SC

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Insurance Auto Auctions
(877) 550-1262
430 Tannenbaum
Ravenel, SC
 
County Auto Auction
(843) 669-7000
3213 E Palmetto St
Florence, SC
 
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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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