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Repo Car Auctions Johnston RI

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
160 Amaral
Riverside, RI
 
Ocean State Auto Auction
(401) 397-2801
10 Industrial Drive
Exeter, RI
 
Mechanic Street Autobody
(508) 966-2886
179 Mechanic St.
Bellingham, MA
Services
Auto Body Repair,Collision Repair,Fabrication and Restoration,Truck Auto Body,Used Car Dealers,Auto Dealers

Fortiers Auto Sales and Service Inc
(508) 674-6846
605 Globe Street
Fall River, MA
Services
AC and Heating Repair,Electrical Repair,Engine Repair,Fuel Injection Repair,Mufflers Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Messina Motors
(401) 831-1551
585 Hartford Ave
Providence, RI

Data Provided by:
Danny'S Auction
(401) 647-2558
Route 6
Foster, RI
 
Copart Auto Auctions
(508) 473-4572
82 Cape Rd
Mendon, MA
 
Mechanic Street Motors
(508) 966-2886
179 Mechanic
Bellingham, MA
Services
Auto Inspection,Fabrication and Restoration,Used Car Dealers,Auto Dealers

Global Auto Medic
(401) 232-7779
159 Putnum Pike
Johnston, RI

Data Provided by:
TOUCH OF CLASS AUTO SALON
(401) 475-5528
40 Sonoma Ct.
Providence, RI
 
Data Provided by:

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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