Repo Car Auctions Pasadena TX
Auto Parts,Auto Repair,Clutch Repair,Speedometer Repair,SUV Repair,Used Car Dealers,Auto Dealers
La Porte, TX
Clutch Repair,Auto Dealers
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...
Dates: 11/28/2014 – 12/1/2014
George R. Brown Convention Center Houston
1001 Avenida de las Americas
Autorama-Houston ranks as one of the premier automobile industry trade shows in the United States. The show is attended by nearly 70000 visitors at each of its editions and serves as an ideal platform for leading professionals in the industry to directly interact with each other and deliberate on the latest happenings in the automotive sector. A large number of eminent companies come to exhibit at the show, displaying different types of vehicles and accessories, including commercial cars, passenger automobiles, garage tools, motor engines and performance systems, repairing services and car lubricants, to the show attendees. Several topical workshops are organized during the show, while the Ridler Award and the Legend Cup being two of the chief highlights of the event. The range of custom cars that are showcased here is extensive and participating companies get ample scope to expand their business networks at the show.
Dates: 12/6/2014 – 12/7/2014
MSR Houston Angleton
1 Performance Dr
Houston Region SCCA