Repo Car Auctions Marietta GA
Auto Auction Srv
5901 Peachtree Dunwoody Rd
Days Auto Auction
3611 Cobb Pkwy
Bishop Bros Auto Auction
2244 Metropolitan Pkwy
1925 Cobb Parkway South
SUV Repair,Used Car Dealers,Auto Dealers
New Horizons Outdoors
4429 Bankhead Highway
RV and Camper Repair,Trailer Repair,Truck Parts,Auto Dealers,RV and Camper Dealers
2568 Old Alabama Rd
Manheims Georgia Dealers Auto Auction
7205 Campbellton Rd
1865 Cobb Parkway South
Auto Body Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers
Lou Sobh Ford Inc
1665 Scott Blvd.
Fuel Injection Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers
Oliver Sales & Leasing
990 Cobb Pkwy S Ste B
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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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