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Repo Car Auctions Fort Wayne IN

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.

Indiana Auto & Truck Auction Inc
(260) 489-2776
4425 W Washington Center Rd
Fort Wayne, IN
 
G & G Auto Sales
(260) 456-1884
2804 E Pontiac St
Fort Wayne, IN

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Shaver Autos
(260) 490-4000
7405 Lima Rd
Fort Wayne, IN

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Auto Liquidation Ctr Inc
(260) 749-1000
350 Lincoln Hwy W
New Haven, IN

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Superior Auto Inc
(260) 244-7979
1349 E State Road 205
Columbia City, IN

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Barodge Auto Pool Inc
(260) 489-3846
3833 Goshen Rd
Fort Wayne, IN
 
Bart's Car Store Inc
(260) 435-1824
5510 Illinois Rd
Fort Wayne, IN

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Best Buy Auto Sales
(260) 470-4254
9714 Stowaway CV
Fort Wayne, IN

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R & L Auto Sales
12826 Us Highway 33 N
Churubusco, IN

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Insurance Auto Auctions
(877) 550-1262
25631 State Road 2
South Bend, IN
 
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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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