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Repo Car Auctions Killeen TX

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.

I 35 Auto Auction Of Belton
(254) 939-0100
212 E Loop 121
Belton, TX
One More Last Chance Auto
(254) 526-4817
4503 W Stan Schlueter Loop
Killeen, TX

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Reliant Motors
(254) 634-6066
111 S 10th St
Killeen, TX

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Budget Used Cars
(254) 634-2601
117 N Gray St
Killeen, TX

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Patriot Pontiac-Gmc-Buick
(254) 547-1700
1501 E Highway 190
Copperas Cove, TX

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Killeen Auto Brokers
(254) 526-4889
805 E Rancier Ave
Killeen, TX

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(254) 526-0425
907 n. 8th st
killeen, TX
Drive 1-A Claude Hodge Motor
(254) 634-4555
121 E Veterans Memorial Blvd
Killeen, TX

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Cleo Bay Honda Used Cars
(254) 634-0859
4100 E Stan Schlueter Loop
Killeen, TX

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Dennis Eakin 2nd Chance
(254) 939-9400
515 S Main St
Belton, TX

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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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