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Repo Car Auctions Gulfport MS

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
(877) 550-1262
7401 Woolmarket
Biloxi, MS
 
Long Beach Auto Auction
(228) 452-2030
8494 County Farm Rd
Long Beach, MS
 
Gulfport Auto Sales
(228) 539-1102
14275 Dedeaux Rd
Gulfport, MS

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Car Tunes & Used Cars
(228) 435-5174
1661 Pass Rd
Biloxi, MS

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Palmetto Auto Sales
(228) 396-0210
4204 Popps Ferry Rd
Diberville, MS

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Japanese Buggy Works Inc
(228) 868-3129
810 Pass Rd
Gulfport, MS
 
Turan foley Motors Inc
(228) 539-7500
11123 Highway 49
Gulfport, MS
Services
SUV Repair,Truck Service Station,Truck Dealers,Auto Dealers

Chuck Ryan Cars
(228) 864-9706
18012 Pineville Rd
Long Beach, MS

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Casino Motors
(228) 396-3222
10074 3rd Ave
Diberville, MS

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Insurance Auto Auctions Inc
(877) 550-1262
8209 Old Stage
Moss Point, MS
 
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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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