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Repo Car Auctions Christiansburg VA

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.

Christiansburg Auto Auction Llc
(540) 381-1377
2000 Roanoke St
Christiansburg, VA
 
Shelor Motor Mile
(540) 382-2981
2257 Roanoke St
Christiansburg, VA
Services
Auto Repair,Clutch Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Golden Rule Auto Sales
(540) 639-3922
3049 Radford Rd
Christiansburg, VA

Data Provided by:
College Motors Inc
(540) 953-2070
1604 S Main St
Blacksburg, VA

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Auto Auction Tysons
(703) 442-0100
8590 Leesburg Pike
Vienna, VA
 
Radford Auto Auction Inc
(540) 639-9011
4002 Mud Pike
Christiansburg, VA
 
Thompson Chrysler Dodge
(540) 639-3938
3431 Radford Road
Christiansburg, VA
Services
Alignment Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Truck Auto Body,Tune up Repair,Auto Dealers

Rob N Son Motors Inc
(540) 382-2242
109 Depot St NE
Christiansburg, VA

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College Motors
(800) 433-3243
3611 Mccoy Rd
Blacksburg, VA

Data Provided by:
Bellingham Public Auto Auction
(360) 647-5370
7823 Wards Rd
Rustburg, VA
 
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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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