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Repo Car Auctions Makawao HI

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.

Aloha Auto Auction
(808) 244-8466
1464 Lower Main St
Wailuku, HI
Steve's Auto Quick Fix Inc
(808) 572-4866
Kahului 96768
Makawao, HI
Word Of Mouth Rent-A-Car
(808) 877-2436
PO Box 24
Makawao, HI
Mid Pac Petroleum, LLC
(808) 572-6350
3310a Old Haleakala Hwy
Makawao, HI
Federated Auto Parts-Auto Supplies
(808) 572-8588
1043 Makawao Ave Ste 101
Makawao, HI
United Auto Parts Inc
(808) 572-7265
Pukalani Terrace Ctr
Makawao, HI
Ryan Souza State Farm Home Life Auto Insurance Pukalani
(808) 573-9100
12 Kaupea St Ste 102
Makawao, HI
D & D Towing
(808) 573-5700
30 Kapii St
Makawao, HI
Maui Transmissions
(808) 573-0600
3411b Old Haleakala Hwy
Makawao, HI
(808) 572-9044
2860 Liholani St
Makawao, HI

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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