Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Eau Claire WI

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.

Western Wisconsin Auto Auction Inc
(715) 723-1100
3272 County Highway P
Chippewa Falls, WI
 
Insurance Auto Auction
(877) 550-1262
W-10321 State 16
Portage, WI
 
Insurance Auto Auctions
(877) 550-1262
N70W25277 Indian Grass
Sussex, WI
 
Greater Milwaukee Auto Auction
(414) 362-1049
8711 W Brown Deer Rd
Milwaukee, WI
 
Tn State Auto Auction
(608) 744-2020
1911 State Road 80
Cuba City, WI
 
Al's Auto Sales
(715) 875-4221
E9338 150th Ave
Mondovi, WI

Data Provided by:
INSURANCE AUTO AUCTION
(877) 550-1262
2591 Casaloma
Appleton, WI
 
Hansen & Young Auto Auction
(715) 837-1016
1264 5th Ave
Prairie Farm, WI
 
Davon'S 3 Price Car Lot & Auto Auction
(866) 757-3643
7000 N Teutonia Ave
Milwaukee, WI
 
Midstate Auto Auction
(920) 674-6080
W5481 W Junction Rd
Jefferson, WI
 
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide