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Repo Car Auctions La Fayette GA

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.

Ford Rent A Car System
(706) 278-1151
925 Shugart Road
Dalton, GA
Electrical Repair,Auto Dealers

Harris Brothers Auto Mall
(706) 858-7777
2221 Battlefield Pkwy
Fort Oglethorpe, GA

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Insurance Auto Auctions
(877) 550-1262
2200 Trade
MacOn, GA
(877) 550-1262
368 Oakridge Church
Tifton, GA
Oakwoods Arrow Auto Auction Inc
(770) 532-4624
4712 Flat Creek Rd
Oakwood, GA
Valley Auto Sales
(706) 638-5898
1697 N Main St
La Fayette, GA

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Fat Daddy's Auto Sales
(706) 657-8801
4790 Highway 136
Trenton, GA

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(877) 550-1262
125 Old Highway 138
Loganville, GA
Insurance Auto Auctions
(877) 550-1262
1930 Rex
Morrow, GA
Perrys Auto Auction
(478) 237-8270
682 S Main St
Swainsboro, GA
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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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