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Repo Car Auctions Mansfield OH

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.

South Illinois Auto Center & Auction
(419) 589-8945
100 Illinois Ave
Mansfield, OH
 
Lou's Auto Sales
(419) 747-4628
660 Hanna Rd
Mansfield, OH

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Pro Car Auto Group
(419) 589-8044
1327 Ashland Rd
Mansfield, OH

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Crest Auto Sales
(419) 683-1450
521 E Main St
Crestline, OH

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MyTee Products
(888) 705-8277
491 US HIGHWAY
ASHLAND, OH
 
Cal Hans Ford Mercury Inc
(419) 994-4155
506 East Washington Street
Loudonville, OH
Services
Fuel Injection Repair,Radiator Repair,SUV Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Joyce Buick Gmc Used Cars in Ohio
(877) 235-1243
1400 Park Ave W.
Mansfield, OH
 
Hall's Auto Sales
(419) 589-5240
1657 Ashland Rd
Mansfield, OH

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Greenlight Motors
(419) 468-7070
410 N East St
Galion, OH

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Loudonville Motor Co
(419) 994-4171
310 W Main St
Loudonville, OH

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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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