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Repo Car Auctions La Follette TN

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.

H&H Automotive and Performance
(865) 755-7206
747 N Main St.
Clinton, TN
Car Makes
General Motors
Hours
M-F 8-5
Prices and/or Promotions
65/hr

Insurance Auto Auctions
(877) 550-1262
3634 Governor John Sevier
Knoxville, TN
 
Verastar Of Chattanooga
(423) 624-2102
2801 Asbury Park St
Chattanooga, TN
 
Auction Car Outlet
(615) 758-9530
14345 Lebanon Rd
Old Hickory, TN
 
Marcka Auto Auction
(931) 456-7555
150 Cox Ave
Crossville, TN
 
Insurance Auto Auctions
(877) 550-1262
3896 Stewarts
Nashville, TN
 
Insurance Auto Auctions
(877) 550-1262
2801 Asbury Park
Chattanooga, TN
 
Airport Auto Auction Clean Up Shop
(865) 681-8598
1722 Chandler Rd
Louisville, TN
 
Mid South Auto Auction
(865) 573-7163
7518 Chapman Hwy
Knoxville, TN
 
Abc Nashville
(615) 847-7400
631 Burnett Rd
Old Hickory, TN
 

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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