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Repo Car Auctions Louisville 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.

Kentuckiana Auto Storage Pool
(502) 458-9000
4420 Poplar Level Rd
Louisville, KY
 
Clark County Auto Auction
(812) 285-1000
1611 E 10th St
Jeffersonville, IN
 
Tom Gray Auto Sales
(502) 637-8894
1100 E Kentucky St
Louisville, KY

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Sonny Bishop Cars
(502) 966-9040
5102 Preston Hwy
Louisville, KY

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Car Store
(502) 966-2336
6801 Preston Hwy
Okolona, KY

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Mid America Auto Auction Inc
(502) 454-6666
3515 Newburg Rd
Louisville, KY
 
Manheims Louisville Auto Auction
(812) 283-0734
5425 Highway 31
Clarksville, IN
 
Highland Motorsport
(502) 451-2150
1125 Bardstown Road
Louiville, KY
 
Auto Smart
(502) 969-3600
6626 Preston Hwy
Louisville, KY

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Remax Auto Sales
(502) 618-2070
6913 Shepherdsville Rd
Louisville, KY

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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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