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Repo Car Auctions Hockessin DE

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.

INSURANCE AUTO AUCTIONS INC
(877) 550-1262
417 Old Airport
New Castle, DE
 
Insurance Auto Auctions
(302) 322-1808
417 Old Airport Rd
New Castle, DE
 
NuCar Chevrolet
(302) 322-2438
174 N Dupont Hwy
New Castle, DE
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Auto Dealers

Del Toyota
(610) 383-6200
2945 E Lincoln Hwy
Coatesville, PA
Services
Auto Body Repair,Van Dealers,Auto Dealers

Jeff DAmbrosios Mitsubi
(610) 251-0900
1223 E Lancaster Avenue
Downingtown, PA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

New Castle Auto Auction & Consignments
(302) 326-2437
415B Old Airport Rd
New Castle, DE
 
NuCar Mazda
(302) 322-2438
172 North Dupont Highway
New Castle, DE
Services
Alignment Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Auto Dealers

Piazza Acura Of West Chester
(610) 399-9500
1330 Wilmington Pike
West Chester, PA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Roberts Auto Mall
(610) 269-8200
19 Park Lane
Downingtown, PA
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

C & H Auto Sales
(302) 654-6700
2000 Newport Gap Pike
Wilmington, DE

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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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