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Repo Car Auctions Cape Girardeau MO

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.

Insight Car-go Services
(573) 243-9812
318 E Main St Ste C
Jackson, MO

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Insurance Auto Auctions
(877) 550-1262
1155 Eldon
Springfield, MO
 
Mid Mo Auction Co & Auto Sales
(417) 991-2898
20100 Kingsbrook Rd
Lebanon, MO
 
166 Auto Auction
(417) 882-1667
2944 W Sunshine St
Springfield, MO
 
Q Csa Auto Auctions
(573) 374-8176
144 Sherman Rdg
Gravois Mills, MO
 
Bening Motor Co
(573) 243-8500
4153 E Jackson Blvd
Jackson, MO

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Royal Auto Auction
(816) 461-2525
8912 E Us Highway 40
Kansas City, MO
 
Kansas City Auto Auction
(816) 452-4084
3901 N Skiles Ave
Kansas City, MO
 
St Charles Public Auto Auction
(636) 947-0770
216 Spring Dr
Saint Charles, MO
 
Sedalia Auto Wholesale Inc
(660) 347-5646
16000 Highway 50
La Monte, MO
 
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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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