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Repo Car Auctions Jackson TN

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 Connect Auto Auction
(731) 423-5551
50 Fiberglass Rd
Jackson, TN
 
Mazda of Jackson
(731) 421-1505
721 S Highland Avenue
Jackson, TN
Services
Truck Service Station,Auto Dealers

Golden Circle Ford Lincoln
(731) 664-0873
1432 Highway 45 Bypass
Jackson, TN
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Auto City Usa
(731) 664-8113
766 Vann Dr
Jackson, TN

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robertson lawn service
(731) 422-5452
26 riley cove
jackson, TN
 
Jackson Madison County Auto Auction
(731) 783-4500
38 Graves Loop Rd
Medina, TN
 
Robinson Toyota
(731) 668-1234
1377 Highway 45 Bypass
Jackson, TN
Services
SUV Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Bobs House of Honda
(731) 668-4191
603 Vann Drive, # A
Jackson, TN
Services
Motorcycle Fabrication,Motorcycle Repair,Auto Dealers

Gwatney Mazda of Jackson
(731) 660-5055
531 Vann Drive
Jackson, TN
 
Blue Moon Auto Sales LLC
(731) 410-8200
3511 N Highland Ave
Jackson, TN

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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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