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Repo Car Auctions Glastonbury CT

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.

INSURANCE AUTO AUCTIONS INC
(877) 550-1262
1462 Saybrook
Middletown, CT
 
Statewide Auto Auction
(203) 237-1975
1756 N. Broad St.
Meriden, CT
 
Liberty Mazda
(860) 240-7406
149 Liebert Road
Hartford, CT
Services
SUV Repair,Used Car Dealers,Auto Dealers

Day Garage
(860) 290-5349
56 Mascolo Road
South Windsor, CT
Services
Truck Auto Body,Truck Dealers,Used Truck Dealers,Auto Dealers

Frank's Auto Credit
(860) 649-3000
285 Broad Street
Manchester, CT
 
INSURANCE AUTO AUCTION INC
(877) 550-1262
47 Newberry
East Windsor, CT
 
Hartford Springfield Auto Auction Coop
(860) 653-5625
153 Rainbow Road
East Granby, CT
 
Harte Nissan
(860) 549-2800
165 W Service Road
Hartford, CT
Services
SUV Repair,Auto Dealers

Crowley R V
(860) 261-3050
9 Barber Street
Bristol, CT
Services
RV and Camper Repair,Auto Dealers,RV and Camper Dealers

Frank's Auto Credit
(860) 649-3000
285 Broad St
Manchester, CT

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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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