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Repo Car Auctions Lynn MA

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.

Jim Lamb Auto Auction
(508) 533-9700
732 Lynnway
Lynn, MA
 
Quincy Auto Auction
(617) 773-5000
196 Ricciuti Dr
Quincy, MA
 
Atlantic Toyota
(781) 599-4922
671 Lynnway
Lynn, MA
Services
Auto Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Ira Motor Group
(978) 739-8600
99 Andover Street, # B
Danvers, MA
Services
Truck Service Station,Auto Dealers

Hondar House Inc
(617) 547-1950
227 Prospect St
Cambridge, MA
Services
Oil Change and Lube,AC and Heating Repair,Auto Repair,Brake Repair,Clutch Repair,Mufflers Repair,Auto Dealers

North Shore Auto Auction
(978) 356-7600
5 Turnpike Rd
Ipswich, MA
 
Copart Salvage Auto Auctions
(978) 667-6787
55 High St
North Billerica, MA
 
Civic Center Honda Toyota
(617) 539-4460
96 Pauline Street
Winthrop, MA
Services
Emissions Testing,Auto Dealers

Parts
(781) 935-7009
200 Cambridge Road
Woburn, MA
Services
Clutch Repair,Auto Dealers

Albrecht Auto Group
(781) 933-1100
394 Washington St
Ste A1
Woburn, MA
Services
Clutch Repair,Fuel Injection Repair,Service Stations,SUV Repair,Used Car Dealers,Auto Dealers

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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