Repo Car Auctions Fresno CA
AC and Heating Repair,Brake Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers,Used Car Dealer
Transmission Repair,Auto Dealers
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers
Motorcycle Fabrication,Auto Dealers
Truck Auto Body,Van Dealers,Auto Dealers
SUV Repair,Auto Dealers
Truck Parts,Auto Dealers
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Truck Dealer,Van Dealers,Auto Dealers
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...
Miata Club Meeting
Dates: 12/18/2014 – 12/18/2014
Carrow's Restaurant Fresno
4280 N. Blackstone Avenue
San Joaquin Valley Miata Club
Monthly Club Meeting
Dates: 12/7/2014 – 12/7/2014
Applebee's Neighborhood Grill Clovis
98 Shaw Ave.
Clovis Independent 4 Wheelers
Meeting starts at 6:30pm, but arrive at 5:30 for drinks and 6:00 to order dinner.