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Repo Car Auctions Jacksonville FL

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.

Insurance Auto Auctions
(877) 550-1262
14492 New Kings
Jacksonville, FL
 
Copart Auto Auction
(904) 764-8615
5007 New Kings Rd
Jacksonville, FL
 
Americas Auto Auction
(904) 764-7653
11982 New Kings Rd
Jacksonville, FL
 
H T Auto Sales & Svc
(904) 399-1118
4030 Saint Augustine Rd Ste A
Jacksonville, FL

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Victoria Motors
(904) 348-3888
3776 Beach Blvd
Jacksonville, FL

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Insurance Salvage Solutions Llc
(904) 355-7010
60 Stockton St
Jacksonville, FL
 
Spectrum Auto Auctions
(904) 387-6541
1616 Cassat Ave
Jacksonville, FL
 
Jerry Hamm Chevrolet
(904) 398-3036
3494 Philips Highway
Jacksonville, FL
Services
SUV Repair,Truck Service Station,Auto Dealers

George's Auto Sales
(904) 396-5069
2937 Phillips Hwy
Jacksonville, FL

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Easley's Us1 Auto Sales
(904) 730-3757
4357 Phillips Hwy
Jacksonville, FL

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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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