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Repo Car Auctions Ionia MI

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.

Auto Salvage Auction
(616) 374-8818
8460 State Rd
Portland, MI
 
Insurance Auto Auction
(877) 550-1262
700100 SW
Byron Center, MI
 
American Auto Auction
(313) 835-0090
9165 Hubbell St
Detroit, MI
 
West Michigan Auto Auction Llc
(616) 877-2020
4758 Division St
Wayland, MI
 
Ludemans Northeastern Auto Auction Llc
(586) 749-3031
29600 26 Mile Rd
Chesterfield, MI
 
Berger Motor Sales Inc
(616) 527-4800
3669 S State Rd
Ionia, MI

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Insurance Auto Auctions
(877) 550-1262
8251 Rawsonville
Belleville, MI
 
Premier Auto Auction
(734) 721-2886
6345 N Hix Rd
Westland, MI
 
Expressway Auto Auction Inc
(231) 937-5868
8930 Maple Hill Rd
Howard City, MI
 
Bay Auto Auction
(989) 891-9570
573 S Tuscola Rd
Bay City, MI
 
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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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Dates: 9/28/2014 – 9/28/2014
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