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Repo Car Auctions Fort Morgan CO

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.

Fort Morgan Auto Center
(970) 867-2432
1010 W Platte Avenue
Fort Morgan, CO
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

INSURANCE AUTO AUCTIONS INC
(877) 550-1262
1280 Highway 50
Delta, CO
 
Denver Auto Auction
(303) 343-3443
17500 E 32nd Ave
Aurora, CO
 
Klode Auto
(970) 249-1883
2730 N Townsend Ave
Montrose, CO
 
Loveland Auto Auction Inc
(970) 669-4994
2500 E 13th St
Loveland, CO
 
Korf Chevrolet Buick Pontiac GMC
(970) 842-0405
500 W 8th Ave
Yuma, CO
 
Klode Salvage Distribution Center Inc
(303) 470-5511
8300 Blakeland Dr
Littleton, CO
 
Colorado Springs Auto Auction
(719) 392-3406
500 Willow Spring Rd
Fountain, CO
 
Vad Automotive Body Shop
(303) 940-8227
4390 Kipling St
Wheat Ridge, CO
 
Pyramid Motors & Public Auction
(719) 382-5151
905 S Santa Fe Av
Fountain, CO
 

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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