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Repo Car Auctions Leander 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.

Adesa Austin
(512) 873-2400
2108 Ferguson Ln
Austin, TX
 
Premier Auto Sales
(512) 260-0029
1900 N Bell Blvd Ste A
Cedar Park, TX

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True Auto Sales & Svc
(512) 257-2622
450 N Bell Blvd
Cedar Park, TX

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America's Auto Choice
(512) 331-8881
13187 N Highway 183
Austin, TX

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Leif Johnson Superstore North
(512) 335-1934
12931 N Highway 183
Austin, TX

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Lone Star BMW Triumph
(512) 451-7979
10600 N Lamar Boulevard
Austin, TX
Services
Motorcycle Fabrication,Motorcycle Repair,Auto Dealers

Cedar Park Consignment & Bank
(512) 259-7678
1904 N Bell Blvd
Cedar Park, TX

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Apple Sport Imports
(512) 351-7015
10907 Ranch Road 620 N
Austin, TX

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Autofair Used Cars
(512) 440-8900
13038 N Highway 183
Austin, TX

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Black Diamond Imports
(512) 219-9901
13264 N Highway 183
Austin, 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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