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Repo Car Auctions Lexington KY

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.

Kasp
(859) 263-2129
5921 Athens Boonesboro Rd
Lexington, KY
 
Gulf Auto Sales and Repair
(859) 233-1118
753 E Seventh St
Lexington, KY
Services
Towing Service,Auto Repair,Brake Repair,Service Stations,Transmission Repair,Auto Dealers

Accent Windows and Doors
(859) 299-3596
1175 E New Circle Rd
Lexington, KY

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Don Jacobs Used Cars
(859) 293-1663
131 W New Circle Rd
Lexington, KY

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Rod Hatfield Chevrolet-Used
(859) 299-6271
651 W New Circle Rd
Lexington, KY

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Copart Auto Auction
(859) 264-7401
5801 Kasp Ct
Lexington, KY
 
Everybody's Auto Sales
(859) 225-1363
530 E New Circle Rd
Lexington, KY

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Key Auto & Finance
(859) 299-0200
569 E New Circle Rd
Lexington, KY

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North Broadway Auto Sales
(859) 293-2353
1720 N Broadway
Lexington, KY
Hours
Monday: 9:00 AM - 5:00 PM; Tuesday: 9:00 AM - 5:00 PM; Wednesday: 9:00 AM - 5:00 PM; Thursday: 9:00

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James Motor Company Mercedes-Benz
(866) 994-9866
2440 Richmond Rd
Lexington, KY
Hours
SalesMon-Fri: 9:00am - 6:00pmSat: 9:00am - 5:00pmServiceMon-Fri: 7:30am - 6:00pmSat: 9:00am - 3:00pm

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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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On the River Car Show
Dates: 9/13/2014 – 9/13/2014
Location:
Paul W. Ogle Riverfront Park Vevay
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