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Repo Car Auctions Clifton Heights PA

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 INC
(877) 550-1262
100 Industrial
Conshohocken, PA
 
Insurance Auto Auctions
(877) 550-1262
217 Blackwood Barnsboro
Sewell, NJ
 
Carriage Trade Auto Auction
(215) 227-7253
1100 Ridge Ave
Philadelphia, PA
 
Carriage Trade Auto Auction
(610) 825-7085
1200 W Ridge Pike
Conshohocken, PA
 
Insurance Auto Auctions
(856) 227-4232
217 Blackwood Barnsboro Rd
Sewell, NJ
 
Insurance Auto Auctions
(877) 550-1262
396 River
King of Prussia, PA
 
Philadelphia Public Auto Auction
(215) 730-9922
5618 Woodland Ave
Philadelphia, PA
 
Insurance Auto Auction Inc
(610) 277-0894
100 Industrial Way
Conshohocken, PA
 
U S Auto Auctions
(856) 662-2886
4106 Marlton Pike
Pennsauken, NJ
 
Capital Auto Auction
(215) 332-2515
5135 Bleigh Ave
Philadelphia, PA
 

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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