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Repo Car Auctions Hendersonville NC

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.

Asheville Auto Auction Inc
(828) 254-8867
444 Riverside Dr
Asheville, NC
 
Coleman Freeman Auto Sales
(828) 692-6110
1212 Asheville Hwy
Hendersonville, NC

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Woodard Motors Inc
(828) 654-9490
3162 Hendersonville Rd
Fletcher, NC

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Safety Supply Solutions
(828) 650-6520
1871 Hendersonville Road #121
Asheville, NC

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Sourwood Salvage & Auto Sales
(828) 298-8600
2056 US 70 Hwy
Swannanoa, NC

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Hunter Nissan
(828) 697-2222
1340 spartanburg hwy
hendersonville, NC
 
Coleman Freeman Auto Sales
(828) 692-6110
Highway 25 N & Fleming St
Hendersonville, NC

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Ledford's Auto Sales
(828) 654-9960
3090 Sweeten Creek Rd
Asheville, NC

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B & B Auto Brokers Inc
(828) 252-4400
1388 Patton Ave
Asheville, NC

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Speedy Auto Sales
(828) 258-0904
301 Haywood Rd
Asheville, NC

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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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