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Repo Car Auctions Minneapolis MN

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
(877) 550-1262
1336 Jackson
Saint Paul, MN
 
Mid America Auction
(612) 788-7886
1025 Broadway St
Minneapolis, MN
 
A Cs International Classic Car Auctions
(651) 633-9655
2008 County Road C
Saint Paul, MN
 
Mid America Auction Services
(651) 633-9655
2008 County Road C
Saint Paul, MN
 
Abc Minneapolis
(763) 428-8777
18270 Territorial Rd
Maple Grove, MN
 
Insurance Auto Auctions
(877) 550-1262
1280 Jackson
Saint Paul, MN
 
Metro Auto Auctions
(651) 641-0944
2576 Doswell Ave
Saint Paul, MN
 
Cj Auto Broker
(866) 976-8874
2008 County Road C
Saint Paul, MN
 
Copart Auto Auctions
(763) 781-1025
3737 E River Rd
Minneapolis, MN
 
Minneapolis Auto Auction
(763) 425-7653
8001 Jefferson Hwy
Maple Grove, MN
 

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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