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Repo Car Auctions Hastings MN

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.

Auto Depot
(651) 437-8588
12044 120th St S
Hastings, MN

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Import Auto Enterprises
(651) 225-9699
830 Robert St S Ste 2
Saint Paul, MN

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Earl Street Auto Sales
(651) 771-5031
803 Earl St
Saint Paul, MN

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Insurance Auto Auctions
(877) 550-1262
1336 Jackson
Saint Paul, MN
 
Northstar Auto Auction
(952) 445-5544
4908 Valley Industrial Blvd
Shakopee, MN
 
Wernet Enterprises Inc
(651) 457-1613
7375 Concord Blvd
Inver Grove Heights, MN

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Heartland Auto Sales
(651) 793-5125
1236 Arcade St
Saint Paul, MN

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120 Autos
(651) 787-9700
4747 Geneva Ave N Ste 3
St Paul, MN

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Insurance Auto Auctions
(877) 550-1262
1280 Jackson
Saint Paul, MN
 
A Cs International Classic Car Auctions
(651) 633-9655
2008 County Road C
Saint Paul, MN
 
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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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