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Repo Car Auctions Glasgow KY

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.

Glasgow Auto Auction Inc
(270) 651-7990
217 Industrial Dr
Glasgow, KY
 
Insurance Auto Auctions
(877) 550-1262
710 Woodford
Bowling Green, KY
 
Glasgow Auto Auction Inc
(270) 651-7990
217 Industrial Dr
Glasgow, KY
 
Mid America Auto Auction Inc
(502) 454-6666
3515 Newburg Rd
Louisville, KY
 
Kentuckiana Auto Storage Pool
(502) 458-9000
4420 Poplar Level Rd
Louisville, KY
 
S & J Auto Sales
(270) 773-5174
409 S Dixie Hwy
Cave City, KY

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Insurance Auto Auctions
(877) 550-1262
1701 Lane
Paducah, KY
 
Bowling Green Auto Auction
(270) 781-0043
452 Greenwood Ln
Bowling Green, KY
 
Cars & Things Auto Auction
(270) 586-8288
370 Trotters Ln
Franklin, KY
 
Martins Auto Sales & Auction
(270) 618-4200
1755 Franklin Rd
Scottsville, KY
 
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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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