Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Mount Pleasant MI

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.

Seeley Auto Sales Inc
(989) 463-2886
7625 N Alger Rd
Alma, MI

Data Provided by:
RVingPlanet
(800) 515-9672
PO Box 2291
Midland, MI
 
Insurance Auto Auction
(877) 550-1262
700100 SW
Byron Center, MI
 
Auto Dealers Auction Inc
(810) 789-3030
3164 W Coldwater Rd
Mount Morris, MI
 
Greater Kalamazoo Auto Auction Inc
(269) 679-5021
900 N Us Highway 131
Schoolcraft, MI
 
Midland Ford Lincoln Mercury
(989) 698-4213
1303 S. Saginaw
Midland, MI
 
Insurance Auto Auctions
(877) 550-1262
8251 Rawsonville
Belleville, MI
 
A & M Auto Auction
(313) 866-9130
91 Manchester St
Highland Park, MI
 
Auto Salvage Auction
(616) 374-8818
8460 State Rd
Portland, MI
 
West Michigan Auto Auction Llc
(616) 877-2020
4758 Division St
Wayland, MI
 
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide

Local Events

9th Annual 28th Street Metro Cruise
Dates: 8/23/2013 – 8/24/2014
Location:
Grand Rapids
View Details

Michigan EMS EXPO
Dates: 4/24/2014 – 4/27/2014
Location:
DeVos Place Grand Rapids
View Details

MFD Classic Motors and USAudiClubMI Ring of Lakes Driver�s School
Dates: 4/25/2014 – 4/27/2014
Location:
Grattan Raceway Belding
View Details