Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Bloomington IN

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.

Auto Credit
(812) 824-6300
5425 S Old State Road 37
Bloomington, IN

Data Provided by:
AllStar Auto Sales
(812) 323-1015
821 S Walnut St
Bloomington, IN

Data Provided by:
Approval Auto Credit Inc
(317) 422-8001
9825 Huggin Hollow Rd
Martinsville, IN

Data Provided by:
Indiana Auto & Truck Auction Inc
(260) 489-2776
4425 W Washington Center Rd
Fort Wayne, IN
 
Lakeside Public Auto Auction
(574) 264-0148
51401 State Road 19
Elkhart, IN
 
Wheels Auto Sales
(812) 331-1524
624 S Walnut St
Bloomington, IN

Data Provided by:
State Auto Sales
(317) 422-7022
8705 Banta Rd
Martinsville, IN

Data Provided by:
Insurance Auto Auctions
(877) 550-1262
25631 State Road 2
South Bend, IN
 
Wolfes Auto Auction
(812) 425-4576
2229 S Kentucky Ave
Evansville, IN
 
Mishawaka Auto Auction
(574) 256-5625
55920 Maplehurst Ave
Mishawaka, IN
 
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide

Local Events

Louisville Concours d'Elegance Show West Baden
Dates: 10/4/2014 – 10/4/2014
Location:
West Baden Springs Hotel West Baden Springs
View Details

Monthly Club Meeting
Dates: 9/11/2014 – 9/11/2014
Location:
Covered Bridge Special Education District Office Terre Haute
View Details

Monthly Club Meeting
Dates: 10/9/2014 – 10/9/2014
Location:
Covered Bridge Special Education District Office Terre Haute
View Details

Monthly Club Meeting
Dates: 11/13/2014 – 11/13/2014
Location:
Covered Bridge Special Education District Office Terre Haute
View Details

Monthly Club Meeting
Dates: 12/11/2014 – 12/11/2014
Location:
Covered Bridge Special Education District Office Terre Haute
View Details