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Repo Car Auctions Hemet CA

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.

Gosch Toyota
(951) 658-3188
450 Carriage Circle
Hemet, CA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers,Used Car Dealer

Gosch Ford L M
(951) 658-1370
150 Carriage Circle
Hemet, CA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers,Used Car Dealer

Dch Honda Of Temecula
(951) 699-4444
26755 Ynez Road
Temecula, CA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers,Used Car Dealer

DCH Auto Group
(951) 676-0010
26845 Ynez Road
Temecula, CA
Services
Auto Repair,Clutch Repair,Auto Dealers,Used Car Dealer

Beaumont Powersports LLC
(951) 845-4882
680 Beaumont Avenue
Beaumont, CA
Services
Motorcycle Fabrication,Auto Dealers

Diamond Valley Honda
(951) 765-2700
300 Carriage Circle
Hemet, CA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Auto Dealers

Auto Mall Collision Center
(951) 699-1302
26895 Ynez Road
Temecula, CA
Services
Truck Auto Body,Auto Dealers

Toyota of Temecula Valley
(951) 694-0575
26631 Ynez Road
Temecula, CA
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Dch Acura Of Temecula
(951) 699-1515
26705 Ynez Road
Temecula, CA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers,Used Car Dealer

PEDDER NISSAN
(951) 766-1446
41491 E. Florida Ave
Hemet, CA
 

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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