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Repo Car Auctions Des Moines IA

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 INC
(877) 550-1262
1914 Euclid
Des Moines, IA
 
Des Moines Auto Auction Llc
(515) 285-8911
1530 E Mckinley Ave
Des Moines, IA
 
West Central Auto Auction Inc
(515) 987-1700
3277 Ute Av
Waukee, IA
 
M & M Auto Brokers
(515) 282-0623
1338 21st St
Des Moines, IA

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Integrity Automotive Group
(515) 277-0050
2500 Euclid Ave
Des Moines, IA
Car Makes
All
Hours
M-F 10 AM to 6 PM
Prices and/or Promotions
All

Copart Inc
(515) 262-1900
3300 Vandalia Rd
Des Moines, IA
 
Adesa
(515) 986-5532
1800 Gateway Dr
Grimes, IA
 
Stock Motors Inc
(515) 277-5000
1101 SW 63rd St
Des Moines, IA

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Car City Inc
(515) 278-4184
4550 Merle Hay Rd
Des Moines, IA

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Auto Outlet
(515) 299-4741
2423 Euclid Ave
Des Moines, IA

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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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