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Repo Car Auctions Hilo HI

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.

Hilo Kona Mazda Subaru
(808) 961-4411
1 Keaa Street
Hilo, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Big Island Toyota Suzuki
(808) 935-2920
811 Kanoelehua Avenue
Hilo, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Truck Dealers,Auto Dealers

Island Auto Salvage
(877) 550-1262
91-445A Komohana
Kapolei, HI
 
Aloha Auto Auction
(808) 244-8466
1464 Lower Main St
Wailuku, HI
 
South Bay Auto
(808) 488-8040
98-360 Kamehameha Hwy
Aiea, HI
 
Big Island Toyota Suzuki Scion
(808) 969-1651
811 Kanoelehua Avenue
Hilo, HI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers

Mac Ayan Motors
(808) 935-9100
709 Kanoelehua Ave
Hilo, HI

Data Provided by:
Copart Auto Auction
(808) 682-8770
91-512 Awakumoku St
Kapolei, HI
 
Aloha Auto Auction
(808) 840-8900
1001 Ahua St
Honolulu, HI
 
Insurance Auto Auctions Inc
(808) 682-2858
91-445 Komohana St
Kapolei, HI
 
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...

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