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Repo Car Auctions Central Falls RI

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.

Insurance Auto Auctions
(877) 550-1262
160 Amaral
Riverside, RI
 
Copart Auto Auctions
(508) 473-4572
82 Cape Rd
Mendon, MA
 
Fall River Auto Auction & Sales
(508) 673-8850
489 Bedford St
Fall River, MA
 
Mechanic Street Motors
(508) 966-2886
179 Mechanic
Bellingham, MA
Services
Auto Inspection,Fabrication and Restoration,Used Car Dealers,Auto Dealers

Clair Acura
(508) 660-1100
103 Providence Highway
East Walpole, MA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

American Auto Auction
(508) 823-6600
123 Williams St
Taunton, MA
 
Lamb Jim Auto Auction Lynn
(508) 533-9704
489 Bedford St
Medway, MA
 
Danny'S Auction
(401) 647-2558
Route 6
Foster, RI
 
Mechanic Street Autobody
(508) 966-2886
179 Mechanic St.
Bellingham, MA
Services
Auto Body Repair,Collision Repair,Fabrication and Restoration,Truck Auto Body,Used Car Dealers,Auto Dealers

South Easton Motor Sales
(508) 238-1077
RR 138
South Easton, MA
Services
Alignment Repair,Auto Body Repair,Auto Inspection,Engine Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Used Truck Dealers,Used Car Dealers,Auto Dealers

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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