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Repo Car Auctions Cocoa FL

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.

Cocoa Auto Auction
(321) 636-2886
500 Cox Rd
Cocoa, FL
 
Mike Erdman Cadillac
(321) 453-2050
445 East Merritt Island Causeway
Merritt Island, FL
Services
Fuel Injection Repair,Radiator Repair,Auto Dealers

Qablawi Auto Sales
(321) 637-0900
1206 N Cocoa Blvd
Cocoa, FL

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Lathem Auto Sales
(321) 636-6633
3520 N Cocoa Blvd
Cocoa, FL

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Pineda Bait And Tackle
(321) 254-2366
5800 N Wickham Rd
Melbourne, FL

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Space Coast Auto Auction Of Melbourne
(321) 242-1833
2870 Electronics Dr
Melbourne, FL
 
Mike Erdman Toyota Scion
(321) 453-1313
1545 E Merritt Island Causeway
Merritt Island, FL
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Van Dealers,Auto Dealers

Automaster
(321) 631-7688
875 N Cocoa Blvd
Cocoa, FL

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Ryans Auto List
(781) 588-2392
Harbor Pines Dr
Merritt Island, FL
Car Makes
All

Family Auto Mart
(321) 242-0328
1900 Aurora Rd
Melbourne, FL

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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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