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Repo Car Auctions Huntersville 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.

Dealer Auto Auction Llc
(704) 394-0326
6100 Brookshire Blvd
Charlotte, NC
 
Dealers Auctions Inc
(704) 489-1590
912 Dove Ct
Denver, NC
 
Adesa Auctions
(704) 587-7653
11600 Fruehauf Dr
Charlotte, NC
 
Lake Norman Hyundai
(877) 818-5224
20520 Chartwell Center Dr
Cornelius, NC

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McKnight Hall At UNCCs Cone Center
(704) 552-6500
9201 University City Blvd
Charlotte, NC

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Sadisco Of Charlotte
(704) 394-1941
6500 Rozzelles Ferry Rd
Charlotte, NC
 
Adesa Impact
(704) 788-4421
5100 Merle Rd
Concord, NC
 
AutoBell Car Wash Inc of Huntersville
(704) 948-4585
411 Gilead Rd
Huntersville, NC
 
Auto Ventures
(704) 895-0717
18610 Statesville Rd
Cornelius, NC

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Sunset Motors
(704) 597-0399
6826 Old Statesville Rd
Charlotte, 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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