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Repo Car Auctions Palmdale CA

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.

Palmdale Honda
(661) 947-1515
1124 E Palmdale Boulevard
Palmdale, CA
Motorcycle Fabrication,Motorcycle Repair,Auto Dealers

Volkswagen Antelope Valley
(661) 274-4700
451 Auto Center Drive
Palmdale, CA
Emissions Testing,Fuel Injection Repair,Mobile Auto Repair,Radiator Repair,Tune up Repair,Van Dealers,Auto Dealers

Dollar Car Sales
(661) 945-1869
43104 10TH St W
Lancaster, CA

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Cool Motors
(661) 729-3295
44663 Sierra Hwy
Lancaster, CA

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California Truck Stop
(661) 723-1774
43507 Sierra Hwy
Lancaster, CA

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Robertsons Palmdale Honda
(661) 265-6000
455 Auto Vista Drive
Palmdale, CA
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Big Family Motors Llc
(661) 949-9900
45201 Sierra Hwy
Lancaster, CA

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Magna Color
(661) 948-8800
45024 North Trevor
Lancaster , CA
5 Star Cars
(661) 951-0046
44715 Sierra Hwy
Lancaster, CA

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Valley Auto Ctr
(661) 951-1100
802 W Avenue I
Lancaster, CA

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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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