Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Boulder City NV

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.

Las Vegas Auto Auction
(702) 737-8333
1580 E Sahara Ave
Las Vegas, NV
 
Frank'S Towing
(702) 451-4208
1580 E Sahara Ave
Las Vegas, NV
 
Instant Auto Sales
(702) 565-7437
1613 N Boulder Hwy
Henderson, NV

Data Provided by:
Moturis, Inc.
(702) 597-5978
1600 S Boulder Hwy
Henderson, NV
 
Findlay Cadillac-Saab
(702) 558-2657
993 Auto Show Dr Valley Auto
Henderson, NV
 
Aa Action Towing Inc
(702) 737-9100
1580 E Sahara Ave
Las Vegas, NV
 
Elliott Imports Auto Service
(702) 454-4700
255 Elliott Road, # B7
Henderson, NV
Services
AC and Heating Repair,Auto Dealers

Nationwideautos.com
(702) 262-9100
1628 Athol Ave
Henderson, NV

Data Provided by:
Findlay RV
(702) 435-2500
310 N Gibson Rd
Henderson, NV
 
JSL Group, Inc.
(702) 568-1511
150 N Gibson Rd Ste
Henderson, NV
 
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