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Repo Car Auctions Culpeper VA

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.

Remington Used Auto Sales Ii
(540) 727-9982
1205 S Main St
Culpeper, VA

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Haynes Outdoors
(540) 672-1111
12555 James Madison Hwy
Orange, VA
Executive Auto Sales
(540) 351-0881
85 S. fifth st
warrenton, VA
Insurance Auto Auctions Inc
(540) 994-6490
1250 E Main St
Pulaski, VA
Sadisco Of Wytheville
(276) 228-7426
161 Hayze Ln
Wytheville, VA
Leathers Auto Sales
(540) 543-2341
PO Box 114
Brightwood, VA

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Appearance Specialties Auto
(540) 347-0080
87 S 5TH St
Warrenton, VA

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Richmond Auto Auction
(804) 232-7355
3800 Deepwater Terminal Rd
Richmond, VA
Harrisonburg Auto Auction
(540) 434-5991
3560 Early Rd
Harrisonburg, VA
Ins Auto Auctions Inc
(804) 798-6091
10390 Sadisco Dr
Ashland, VA
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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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