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Repo Car Auctions Huntington Station NY

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.

Statewide Auto Auction Inc
(516) 349-0007
155 Terminal Dr
Plainview, NY
 
Oportunity Auto Sales
187 DEPOT RD
Huntington, NY
 
Park Ave Auto Sales Inc
733 PARK AVE
Huntington, NY
 
Apc Sales Corp
50 AUSTIN BLVD
Commack, NY
 
R&R Auto Sales
454 FULTON ST
Farmingdale, NY
 
Autostrasse Car Sales Inc
271 E JERICHO TPKE
Huntington, NY
 
Broadway Auto Sales & Supplies Co
247A BROADWAY
Huntington Sta, NY
 
Enterprise Car Sales
1141 EAST JERICHO TP
Huntington, NY
 
Engelmann Sales Corp
345 ROUTE 25A
Northport, NY
 
Summit Auto Sales
40 SMITH ST
Hicksville, NY
 

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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