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Repo Car Auctions Jacksonville NC

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.

Sanders Ford
(910) 478-4111
1135 Lejeune blvd
Jacksonville, NC
 
Harris Auto Sales
(910) 355-2009
1363 Piney Green Rd
Jacksonville, NC

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Seaside Auto Sales
(910) 327-6403
2105 NC Hwy 172
Sneads Ferry, NC

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Insurance Auto Auctions
(877) 550-1262
60 Sadisco
Clayton, NC
 
INSURANCE AUTO AUCTION
(877) 550-1262
171 Carden
Graham, NC
 
Stevenson Pre-Owned
(910) 353-1515
2043 Lejeune Blvd
Jacksonville, NC

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Bob's Auto Ctr
(910) 346-3776
2150 N Marine Blvd
Jacksonville, NC

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Davis Auto Sales
(910) 326-4710
102 Norris Rd Ste 24
Swansboro, NC

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Insurance Auto Auctions
(877) 550-1262
415 Madeline Trask
Castle Hayne, NC
 
Dunn Auto Auction
(910) 892-5136
611 Spring Branch Rd
Dunn, NC
 
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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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