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Repo Car Auctions Columbus OH

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
420 Stimmel
Columbus, OH
 
Dealers Auto Sales
(614) 372-1995
1085 Joyce Ave
Columbus, OH
 
Bobs Auto Auction Restaurant
(614) 491-8571
4700 Groveport Rd
Obetz, OH
 
Ohio Auto Auction
(614) 871-2771
3905 Jackson Pike
Grove City, OH
 
Alph Auto Group
(614) 291-0111
114 E 5th Ave
Columbus, OH

Data Provided by:
INSURANCE AUTO AUCTIONS INC
(877) 550-1262
1601 Thrailkill
Grove City, OH
 
Insurance Auto Auctions Inc
(614) 443-5858
420 Stimmel Rd
Columbus, OH
 
Copart
(614) 497-1590
1680 Williams Rd
Columbus, OH
 
Ricart Hyundai
(614) 836-6251
4255 South Hamilton Road
Columbus, OH
Services
SUV Repair,Truck Service Station,Auto Dealers

College Car Co Inc
(614) 447-0041
3021 N High St
Columbus, OH

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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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