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Repo Car Auctions Jessup MD

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
7140 Virginia Manor
Laurel, MD
 
Auctions Usa
(410) 579-6992
7269 Washington Blvd
Elkridge, MD
 
Gunther Tertel Dba Avarage Auto Auction
(410) 579-1005
7275 Washington Blvd
Elkridge, MD
 
Ins Auto Auctions Inc
(410) 354-3344
3131 Hawkins Point Rd
Curtis Bay, MD
 
Hillmuth Auto Repair Columbia
(410) 381-1124
6810 Oak Hall Lane
Columbia, MA
 
Premier Public Auto Auction
(301) 483-4888
9595A Lynn Buff Ct
Laurel, MD
 
Elkridge Auto Auction
(410) 579-1005
7281 Washington Blvd
Elkridge, MD
 
Ins Auto Auctions Inc
(301) 419-2865
7131 Virginia Manor Ct
Laurel, MD
 
Cowan Distribution Services
(513) 272-1134
5100 Duck Creek Road
Baltimore, MD

Data Provided by:
Easterns Automotive Group
(301) 776-0001
9950 Washington Blvd N
Laurel, MD

Data Provided by:
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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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