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Repo Car Auctions Lewiston ME

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.

Morong Brunswick
(207) 725-4323
314 Bath Rd
Brunswick, ME
Services
Auto Parts,Oil Change and Lube,Alignment Repair,Auto Repair,Brake Repair,Clutch Repair,Electrical Repair,Mufflers Repair,Radiator Repair,Retail Tire,SUV Repair,Transmission Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Rowe Kia
(207) 784-2321
699 Center Street
Auburn, ME
 
74 Auto Sales
(207) 225-2174
12 Beals Pond Rd
Turner, ME

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Acadia Auto Auctions
(207) 941-2345
123 Essex St
Bangor, ME
 
Copart Salvage Auto Auctions
(207) 499-7255
136 Kennebunk Pond Rd
Lyman, ME
 
Scott Thayer Auto Sales
(207) 783-3336
89 Washington St N
Auburn, ME

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Charlie Duval Auto Sales
(207) 225-3656
1448 Auburn Rd
Turner, ME

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Allen Pond Auto Sales
(207) 946-3023
76 Sumner Rd
Leeds, ME

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Northeast Auto Auction Inc
(207) 439-9300
6 Ranger Dr
Kittery, ME
 
Morong Brunswick
(207) 725-4323
314 Bath Rd
Brunswick, ME
Services
Auto Parts,Oil Change and Lube,Alignment Repair,Auto Repair,Brake Repair,Clutch Repair,Electrical Repair,Mufflers Repair,Radiator Repair,Retail Tire,SUV Repair,Transmission Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

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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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