Repo Car Auctions Muskegon MI
Grand Haven, MI
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers
Byron Center, MI
Howard City, MI
Grand Haven, MI
Fuel Injection Repair,Radiator Repair,Tune up Repair,Van Dealers,Used Car Dealers,Auto Dealers
North Muskegon, MI
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...
9th Annual 28th Street Metro Cruise
Dates: 8/23/2013 – 8/24/2014
Contact Name: Gregg Howard
Michigan EMS EXPO
Dates: 4/24/2014 – 4/27/2014
DeVos Place Grand Rapids
303 Monroe Ave. NW
Michigan EMS EXPO is an event that is dedicated to the sector emergency medical services. This event aims to provide relevant information about this sector to emergency and critical nurses. This event will prove to be a great networking platform that will bring together EMS and clinical providers under one roof.Michigan EMS EXPO will be an event that will be of great significance for EMS professionals. This is one of the most perfect platforms for the showcase of the latest products, innovations and technologies that pertain to this sector. This is a great opportunity to come across industry peers and get to know about the resources of each other.