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Repo Car Auctions Columbia SC

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.

Goodwill Car Auction
(803) 407-5881
7138 Broad River Rd
Irmo, SC
 
Mid State Auto Auction
(803) 359-9437
5363 Augusta Rd
Lexington, SC
 
Auto Image Inc
(803) 227-3660
4967 Two Notch Rd
Columbia, SC

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South Carolina Automobile Dealers Association
(803) 252-0205
526 Hampton St
Columbia, SC

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The Automotive Advisor Car Buying Service LLC
(803) 261-7300
PO Box 50702
Columbia, SC
Car Makes
All
Hours
8:30 AM - 6:30 PM
Prices and/or Promotions
New, Pre-Owned, CPO, Lease, Purchase, Trade

Copart Salvage Auto Auctions
(803) 794-3252
4324 Highway 321
Gaston, SC
 
Jim Moore Cadillac Inc
(803) 779-3822
2222 Main St
Columbia, SC

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Five Star Automotive
(803) 799-0050
201 S Assembly St
Columbia, SC

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Palmetto Wholesale Auto Sales
(803) 735-8880
3801 Two Notch Rd
Columbia, SC

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United Car Sales
(803) 782-7190
5311 Forest Dr
Columbia, SC

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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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