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Repo Car Auctions Joplin MO

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.

Carthage Ford Mercury Auto
(417) 358-4037
2920 S Grand Avenue
Carthage, MO
Services
Truck Auto Body,Auto Dealers

Tri-Star Auto
(417) 623-9000
3116 N Lone Elm Ave
Joplin, MO
 
Auto Glass Outlet
(417) 621-0020
2520 N Rangeline
Joplin, MO
 
Auto Appearance Plus
(417) 626-7587
1108 W 4th
Joplin, MO
 
66 Truck & Foreign Salvage
(417) 781-8160
3835 W 7th St
Joplin, MO
 
Ralph King Body & Frame Inc
(417) 623-7659
2010 W 10th St
Joplin, MO
 
Car-Mart
(417) 659-8474
3404 E 7TH St
Joplin, MO

Data Provided by:
Ed's Automotive
(417) 624-2600
1841 S. Central City Rd
Joplin, MO
 
Dent Shop Inc
(417) 623-8864
818 E 9th St
Joplin, MO
 
Touch-Up Shop
(417) 623-3687
902 E 4th St Ste 110
Joplin, MO
 
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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