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Repo Car Auctions Harriman TN

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.

Adesa Auctions Knoxville
(865) 988-8000
1011 Adessa Pkwy
Lenoir City, TN
 
Paul Benton Suzuki
(865) 483-8488
799 Oak Ridge Turnpike
Oak Ridge, TN
 
Secret City Chrysler-Dodge-Jeep Inc
(865) 482-7670
1005 Oak Ridge Tpke
Oak Ridge, TN

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Imports & More By Randy Mcnabb
(865) 988-4133
10504 Highway 11 E
Lenoir City, TN

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Insurance Auto Auctions
(877) 550-1262
3634 Governor John Sevier
Knoxville, TN
 
Paul Benton Chevrolet
(865) 483-8488
799 Oak Ridge Turnpike
Oak Ridge, TN
Services
SUV Repair,Truck Service Station,Auto Dealers

Import Car Sales
(865) 482-8007
180 Midway Ln
Oak Ridge, TN

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National Auto Warehouse
(865) 245-4524
11060 Terrapin Station Lane
Knoxville, TN
Car Makes
Audi, BMW, Mercedes Benz, Ford, Chevy, GMC, Honda, Toyota, Mazda, Subaru, Volkswagen, Jeep, Land Rover, Nissan
Hours
Monday thru Friday 9am to 6pm and Saturday 10am to 4pm

Insurance Auto Auctions
(877) 550-1262
2801 Asbury Park
Chattanooga, TN
 
Insurance Auto Auctions
(877) 550-1262
3896 Stewarts
Nashville, TN
 
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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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