Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Henderson NV

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.

Las Vegas Auto Auction
(702) 737-8333
1580 E Sahara Ave
Las Vegas, NV
 
Aa Action Towing Inc
(702) 737-9100
1580 E Sahara Ave
Las Vegas, NV
 
Auction World Inc
(702) 876-2422
4535 W Sahara Av
Las Vegas, NV
 
Elliott Imports Auto Service
(702) 454-4700
255 Elliott Road, # B7
Henderson, NV
Services
AC and Heating Repair,Auto Dealers

Findlay Toyota Used Cars
(702) 898-5000
1050 W Warm Springs Rd
Henderson, NV

Data Provided by:
Frank'S Towing
(702) 451-4208
1580 E Sahara Ave
Las Vegas, NV
 
Interstate Auto Auction
(603) 893-7777
20 Hampshire Road
State, NV
 
Copart Salvage Auto Auctions
(702) 638-9300
4810 N Lamb Blvd
Las Vegas, NV
 
Desert Pontiac-GMC Buick
(702) 558-3300
330 N Gibson
Henderson, NV
 
Findlay Cadillac-Saab
(702) 558-2657
993 Auto Show Dr Valley Auto
Henderson, NV
 
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide