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Repo Car Auctions New Orleans LA

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.

Auto Auction Of New Orleans
(504) 242-9507
6600 Almonaster Ave
New Orleans, LA
 
Best Chevrolet
(504) 468-9817
2600 Veterans Memorial Boulevard
Kenner, LA
Services
Truck Auto Body,Auto Dealers

Bridge House Used Car Lot
(504) 598-3356
1139 Magazine St
New Orleans, LA

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Rodolfo's Auto Sales
(504) 368-4334
1719 Lafayette St
Gretna, LA

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A/Quality Auto Sales
(504) 846-5005
1420 N Causeway Blvd
Metairie, LA

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Cadillac of Metairie
(504) 885-3000
3100 Lime Street
Metairie, LA
Services
Auto Body Repair,Radiator Repair,Tune up Repair,Auto Dealers

Star Motors Inc.
(504) 525-6633
1820 Canal St
New Orleans, LA

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Benson Saab Volkswagon
(504) 827-1200
3000 Tulane Ave
New Orleans, LA

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College Auto Sales
(504) 263-2004
1400 Romain St
Gretna, LA

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Bon Prix Auto Sales LLC
(504) 828-7909
3724 AIRLINE DR
METAIRIE, LA

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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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