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Repo Car Auctions Merrimack NH

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
75 Lowell
Salem, NH
 
Downtown Auto Sales
(603) 668-6597
485 Elm St
Manchester, NH
 
Interstate Auto Auctions
(603) 893-7777
20 Hampshire Rd
Salem, NH
 
Best Honda Cycle Center
(603) 889-0161
579 Amherst Street
Nashua, NH
Services
Motorcycle Fabrication,Motorcycle Repair,Truck Dealers,Used Car Dealers,Auto Dealers

Autofair Toyota Of Manchester
(603) 624-1800
33 Auto Center Rd
Manchester, NH
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Auto Auction Of New England Inc
(603) 437-5700
8 Action Blvd
Londonderry, NH
 
Capital Auto Auction Inc
(603) 622-9058
190 Londonderry Tpke
Manchester, NH
 
Insurance Auto Auctions Inc
(603) 893-2300
75 Lowell Rd
Salem, NH
 
Dobles Chevrolet Inc
(603) 669-8480
1250 S Willow Street
Manchester, NH
Services
Clutch Repair,Auto Dealers

Townsend Sales and Service Inc
(978) 597-8955
340 Main Street PO Box 531
Townsend, MA
Services
Clutch Repair,Radiator Repair,SUV Repair,Tune up Repair,Truck Dealers,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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