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Repo Car Auctions Hammond LA

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
29000 Frost
Livingston, LA
 
Berryland Motors
(985) 370-7000
204 E Pine St
Ponchatoula, LA

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Insurance Auto Auctions
(877) 550-1262
301 Malapart
Lafayette, LA
 
Oak View Auto Auction
(225) 272-5139
13451 Florida Blvd
Baton Rouge, LA
 
Manheims Greater New Orleans Auto Auction
(985) 643-2061
61077 Saint Tammany Ave
Slidell, LA
 
Blackwells Automotive Inc
(985) 542-7702
107 Market Street
Hammond, LA
Services
Electric Car Repair,Auto Dealers

Insurance Auto Auctions
(877) 550-1262
29000 Frost
Livingston, LA
 
Insurance Auto Auctions
(877) 550-1262
15315 Ronald Reagan
Covington, LA
 
Adesa Ark La Tex Auction
(318) 938-4400
7666 Greenwood Rd
Shreveport, LA
 
Bayou State Dealers Auto Auction
(337) 289-9191
134 Galbert Rd
Lafayette, LA
 
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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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