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Repo Car Auctions Madison AL

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.

INSURANCE AUTO AUCTIONS INC
(877) 550-1262
16164 Ennis
Athens, AL
 
Dealers Automobile Auction Of Huntsville Llc
(256) 232-0201
26125 Us Highway 72
Athens, AL
 
Auto Agents Inc.
(256) 683-7810
514 Greenacres Drive
Huntsville, AL
Hours
24 Hours
Prices and/or Promotions
Varies - $99-$499

River City Auto Sales Inc
(256) 340-1557
3420 Highway 31 S
Decatur, AL

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Danny's Quick Lube Tire And Service Center
(256) 498-5239
4188 Hwy. 231
Morgan City, AL

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Midway Auto Auction
(256) 232-9336
30234 Us Highway 72
Madison, AL
 
Hiley Mazda, Audi and VW
(256) 270-9952
6555 NW University Dr.
Huntsville, AL
 
Yes U Can Used Cars Inc
(256) 585-3011
1211 Jordan Ln Nw
Huntsville, AL

Data Provided by:
Smith Motors
(256) 350-9937
3211 Highway 31 S
Decatur, AL

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Dexter's Auto Sales
(256) 751-3500
3139 Highway 31 SW
Hartselle, AL

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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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