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Repo Car Auctions Beeville TX

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.

INSURANCE AUTO AUCTION INC
(877) 550-1262
2535 Mount Houston
Houston, TX
 
INSURANCE AUTO AUCTION
(877) 550-1262
14651 Gateway
El Paso, TX
 
INSURANCE AUTO AUCTION
(877) 550-1262
204 Mars
Wilmer, TX
 
Insurance Auto Auctions
(877) 550-1262
701 81st
Odessa, TX
 
Direct Auction Car & Trucks
(972) 732-9550
3235 Skylane Dr
Carrollton, TX
 
INSURANCE AUTO AUCTION
(877) 550-1262
4701 Agnes
Corpus Christi, TX
 
INSURANCE AUTO AUCTION
(877) 550-1262
1000 Dalton
Austin, TX
 
Insurance Auto Auctions
(877) 550-1262
2535 Mount Houston
Houston, TX
 
Insurance Auto Auctions
(877) 550-1262
227 Loop 1604
San Antonio, TX
 
Beaumont Dealers Auto Auction Inc
(409) 866-5677
12151 Highway 90
Beaumont, TX
 

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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