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Repo Car Auctions Bowling Green OH

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.

Ed Schmidt Collision Center
(419) 897-8600
1425 Reynolds Road
Maumee, OH
Collision Repair,Truck Auto Body,Auto Dealers

Woodville Auto Finance
(419) 697-7253
4510 Woodville Rd
Northwood, OH

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Saver Auto
(419) 534-3443
903 N Westwood Ave
Toledo, OH

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(877) 550-1262
2580 Saint Johns
Lima, OH
(877) 550-1262
10100 Windisch
West Chester, OH
D C Motors
(419) 697-4495
3304 Woodville Rd
Northwood, OH

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Rose City Motors
(419) 531-5437
635 S Reynolds Rd
Toledo, OH

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Yark Subaru
(949) 515-4447
6000 West Central Ave.
Toledo, OH
(877) 550-1262
1601 Thrailkill
Grove City, OH
Insurance Auto Auctions
(877) 550-1262
420 Stimmel
Columbus, OH
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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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