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Repo Car Auctions Moundsville WV

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.

A & B Auto Sales Inc
(740) 671-3030
5310 Guernsey St
Bellaire, OH

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Schooler's Custom Auto
(740) 635-1212
106 N 5th Street
Martins Ferry, OH

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INSURANCE AUTO AUCTIONS INC
(877) 550-1262
200 Auction
Buckhannon, WV
 
Capitol City Auto Auction
(304) 965-2277
5100 Elk River Rd
Elkview, WV
 
Fayette Auto Auction
(304) 465-5823
917 Main St
Oak Hill, WV
 
A & B Kia
(740) 671-2020
5310 Guernsey St
Bellaire, OH

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Economy Auto Sales
(740) 633-6500
317 Hanover St
Martins Ferry, OH

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Ripley Auto Auction Inc
(304) 372-7595
414 Church St
Ripley, WV
 
Kanawha Valley Auto Auction
(304) 925-9220
159 Campbells Creek Dr
Charleston, WV
 
Winchester Auto Dealers Exchange Inc
(304) 229-4400
12828 Winchester Ave
Bunker Hill, WV
 
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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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