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Repo Car Auctions Barre VT

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.

Green Light Auto Sales
(802) 476-3815
176 Mill St
Barre, VT

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Insurance Auto Auction
(877) 550-1262
304 Colchester
Essex Junction, VT
 
Seibert S Auction
(804) 233-5757
642 W. Southside Plaza Drive
Richmond, VT
 
White Mountain Auto Broker
(802) 334-7333
531 VT Rte 105
Newport, VT

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Bond Auto Parts
(802) 660-3390
555 Shelburne Rd
Burlington, VT
 
Insurance Auto Auctions
(877) 550-1262
304 Colchester
Essex Junction, VT
 
Brattleboro Auto Auction Llc
(802) 246-1181
224 Old Ferry Rd
Brattleboro, VT
 
Billings Motors Home Sales
(802) 775-3335
130 S Main St
Rutland, VT

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North Country Motors
(802) 334-7117
4518 US Rte 5
Derby, VT

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Right Wheels
(802) 766-2100
3760 Us Route 5
Derby, VT

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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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