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Repo Car Auctions Lakeland FL

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.

Lakeland Auto Auction
(863) 984-1551
8025 State Road 33
Lakeland, FL
County Auto Auction At Haines City
(863) 956-8320
2698 K Ville Ave
Auburndale, FL
Harris Kirby Fueling Services Inc.
(513) 616-2830
1714 Lorelei Drive
Polk City, FL

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Yerton Auto Sales
(863) 688-8555
1002 E Main St
Lakeland, FL

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Lakeland Automall Ford Mazda
(863) 682-1100
1430 W Memorial Blvd
Lakeland, FL

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Imperial Auto Auction
(863) 607-6000
3300 County Line Rd
Lakeland, FL
Auction Side Auto Sales
(813) 621-8777
104 W Us Highway 92
Seffner, FL
Lakeland Automall Ford Mazda Hyundai Isuzu Sales and Body Shop
(863) 682-1100
1430 W Memorial Boulevard
Lakeland, FL
Alignment Repair,Auto Inspection,Clutch Repair,Emissions Testing,Fuel Injection Repair,Mobile Auto Repair,Paintless Dent Repair,Radiator Repair,SUV Repair,Truck Auto Body,Tune up Repair,Used Car Dealers,Auto Dealers

Herndon Quality Cars
(863) 683-5596
1307 W Memorial Blvd
Lakeland, FL

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Joseph Motors Inc
(863) 665-2800
3003 S Combee Rd
Lakeland, FL

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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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