Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Grants Pass OR

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.

Miller Auto Sales
(541) 474-7721
1792 Dowell Rd
Grants Pass, OR

Data Provided by:
Insurance Auto Auctions
(877) 550-1262
4415 158th
Portland, OR
 
Towers Auto Auction
(503) 981-7777
280 S Pacific Hwy
Woodburn, OR
 
Portland Auto Auction
(503) 737-3100
3000 N Hayden Island Dr
Portland, OR
 
Brasher'S Cascade Auto Auction
(503) 492-9200
23585 NE Sandy Blvd
Troutdale, OR
 
Insurance Auto Auctions
(877) 550-1262
1000 Bethel
Eugene, OR
 
Insurance Auto Auctions
(877) 550-1262
14335 Tualatin Sherwood
Sherwood, OR
 
Brasher'S Northwest Auto Auction
(800) 905-3901
90485 Auction Way
Eugene, OR
 
Copart Auto Auctions
(503) 981-2910
2885 National Way
Woodburn, OR
 
Abs & Auto Buyline Systems
(541) 736-8883
3521 Franklin Blvd
Eugene, OR
 
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