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Repo Car Auctions Paducah 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 Auctions
(877) 550-1262
1701 Lane
Paducah, KY
 
Tapps Auto Sales
(270) 575-1945
2161 Irvin Cobb Dr
Paducah, KY

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Swinford Used Cars
(270) 442-3735
3505 Clarks River Rd
Paducah, KY

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Vee Dub Motors
(270) 462-3549
11365 Us Highway 60 W
Kevil, KY

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Roy's Used Cars & Equipment
(270) 665-5110
27 Olive St
La Center, KY

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Paducah Auto Auction Inc
(270) 442-9197
2600 John L Puryear Dr
Paducah, KY
 
Chip Wynn Buick-Jeep
(270) 443-1728
3147 Park Ave
Paducah, KY

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Discount Motors
(270) 443-6786
HC MATHIS Box 2746
Paducah, KY

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Heartland Motors
(270) 395-9100
4841 Us Highway 62
Calvert City, KY

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Insurance Auto Auctions
(877) 550-1262
710 Woodford
Bowling Green, KY
 
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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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