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Repo Car Auctions Bridgeport CT

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.

Maritime Motors of Fairfield
(203) 259-5221
985 Post Road
Fairfield, CT
Services
SUV Repair,Auto Dealers

Five Corners Auto Sales
(203) 368-0804
7 Wayne St
Bridgeport, CT

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Steven's Auto Supermarket
(203) 876-6484
717 Bridgeport Ave.
Milford, CT

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Colonial Scion Inc
(203) 882-0011
475 Boston Post Rd
Milford, CT

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Jes Motors
(203) 732-0069
133 Wakelee Ave
Ansonia, CT

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Bridge Haven Ford Truck Sales Inc
(203) 877-3281
401 Old Gate Lane
Milford, CT
Services
Clutch Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

C & C Automobiles
(203) 375-8504
1201 Barnum Ave
Stratford, CT

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Napoli Indoor Auto Outlet
(203) 490-8887
241 Boston Post Rd
Milford, CT
 
Jordan Remodeling
(203) 926-1111
201 lenore dr
shelton, CT
 
Al's Auto
(203) 397-1918
371 Derby Ave
West Haven, CT

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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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