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Repo Car Auctions Newport KY

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 AUCTNS INC
(877) 550-1262
10100 Windisch
West Chester, OH
 
Columbia Development
(513) 721-3000
250 East Fifth Street
Cincinnati, OH

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Jim's Scrap Service Inc.
(513) 921-9302
1025 Summer Street
Cincinnati, OH

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Thomas Trucking Inc.
(513) 731-8411
2300 Seymour Avenue
Cincinnati, OH

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The Bay Emm Vay Store Inc. dba The BMW Store
(513) 271-8700
6131 Stewart Road
Cincinnati, OH

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Public Auto Auction
(513) 679-7910
8200 Reading Rd
Cincinnati, OH
 
Thomson-MacConnell Cadillac Inc.
(513) 221-5600
2820 Gilbert Avenue
Cincinnati, OH

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J.W. Express Inc.
(513) 241-7400
2735 Spring Grove Avenue
Cincinnati, OH

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Just Saab Cincinnati
(513) 527-4300
6323 Madison Road
Cincinnati, OH

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Walt Sweeney Ford Inc.
(513) 922-4500
5400 Glenway Avenue
Cincinnati, OH

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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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