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Repo Car Auctions Conover NC

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.

Dealers Auctions Inc
(704) 489-1590
912 Dove Ct
Denver, NC
 
JR's Auto Wholesale
(828) 466-3118
2017 NW Blvd
Newton, NC

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Oakland Motors
(828) 313-0000
4976 Midway Sand Rd
Hickory, NC

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Nissan of Hickory
(888) 324-5041
1555 Hwy 321 North
Hickory, NC
 
d&k auto sale
(828) 855-9181
216 hwy 70 sw
hickory , NC
Car Makes
all makes and model
Hours
8:00 to 6:00
Prices and/or Promotions
best prices in town

Statesville Auto Auction
(704) 876-1111
145 Auction Ln
Statesville, NC
 
Swanny's Auto Sales
(828) 466-3151
2800 N Main Ave
Newton, NC

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Auto Sports
(828) 256-2155
2751 Springs Rd NE
Hickory, NC

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Quality Cars of Hickory
(828) 327-0011
50 Highway 70 SW
Hickory, NC
 
Hoyle Auto Sales
(828) 632-9689
568 W Main Ave
Taylorsville, NC

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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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