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Repo Car Auctions Indianapolis IN

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.

Junk Car Buyer
(219) 671-2644
5333 W 46th St
Indianapolis, IN
 
Marion County Auction Llc
(317) 248-0100
1347 S Moreland Ave
Indianapolis, IN
 
Manheim Indianapolis Auto Auction
(317) 862-8622
3110 S Post Rd
Indianapolis, IN
 
Bill's Auto Sales
(317) 638-9165
902 E Washington St
Indianapolis, IN

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Duke Golds Speedway Mazda Subaru Volkswagon Body SHO
(317) 263-0002
1930 W 16th St
Indianapolis, IN

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Kesler Schaefer Auto Auction Inc
(317) 297-6230
5333 W 46th St
Indianapolis, IN
 
Auto Dealers Exchange
(317) 352-0121
8635 Brookville Rd
Indianapolis, IN
 
Olds Inc Commercial Drapery
(317) 257-2450
846 N Senate Ave
Indianapolis, IN

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Falcone Automotive
(317) 263-0002
1930 W 16th St
Indianapolis, IN

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Indy's Unlimited Motors
(317) 377-1111
4325 Allisonville Rd
Indianapolis, IN

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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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