Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Kalamazoo MI

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.

Greater Kalamazoo Auto Auction Inc
(269) 679-5021
900 N Us Highway 131
Schoolcraft, MI
 
Harold Zeigler Auto Group Inc
(269) 375-4500
4201 Stadium Drive
Kalamazoo, MI
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Prestige Motor Sales
(269) 372-4800
4006 W Michigan Ave
Kalamazoo, MI

Data Provided by:
TC Auto
(269) 544-4567
8419 W Main St
Kalamazoo, MI

Data Provided by:
Midwest Motors
(269) 685-9197
1208 M 89
Plainwell, MI

Data Provided by:
Orrin B Hayes Inc
(269) 345-0167
543 W Michigan Avenue
Kalamazoo, MI
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Metro Toyota Inc
(269) 375-1000
5850 Stadium Drive
Kalamazoo, MI
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Used Car Dealers,Auto Dealers

Bud & Doug Walters Auto Sales
(269) 375-7008
1600 S Drake Rd
Kalamazoo, MI

Data Provided by:
B-line Service Inc.
(269) 382-5463
4305 Portage St.
Kalamazoo, MI
Car Makes
all makes & models
Hours
8-5:30 m-f
Prices and/or Promotions
10,000.00 & under

Insurance Auto Auction
(877) 550-1262
700100 SW
Byron Center, MI
 
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...

Click here to read the rest of this article from Lease Guide

Local Events

Autocross #5
Dates: 9/27/2014 – 9/27/2014
Location:
Tire Rack South Bend
View Details

CLC Museum Annual Fall Festival
Dates: 9/28/2014 – 9/28/2014
Location:
Gilmore Car Museum
View Details