Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Gallatin TN

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.

Nashville Auto Auctions
(615) 773-3800
8400 Eastgate Blvd
Mount Juliet, TN
 
Abc Nashville
(615) 847-7400
631 Burnett Rd
Old Hickory, TN
 
Copart Salvage Auto Option
(615) 449-6195
1001 Stumpy Ln
Lebanon, TN
 
Autoplex
(615) 824-5552
760 W Main St
Hendersonville, TN

Data Provided by:
Mosley Motor Co
(615) 431-0518
118 Old Shackle Island Rd
Hendersonville, TN
 
Auction Car Outlet
(615) 758-9530
14345 Lebanon Rd
Old Hickory, TN
 
Abc Auto Auction
(615) 847-7400
631 Burnett Rd
Old Hickory, TN
 
Baker Motor Co
(615) 452-4363
441 W Main St
Gallatin, TN

Data Provided by:
MOSLEY MOTOR COMPANY
(615) 481-2443
118 OLD SHACKLE ISLAND ROAD
HENDERSONVILLE, TN
 
Green Light Car Sales
(615) 431-0786
416 West Main Street
Hendersonville , TN
 
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