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Repo Car Auctions Prattville AL

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.

United Auto Auction
(334) 265-2695
2556 Birmingham Hwy
Montgomery, AL
 
Manning Motor Co
(334) 290-1700
2231 Cobbs Ford Rd
Prattville, AL

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James Martin Motor Co
(334) 264-7334
412 Bibb St
Montgomery, AL

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Stop And Save Auto Sales
(334) 265-4825
3630 Birmingham Hwy
Montgomery, AL

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K & V Automotive Inc
(334) 293-9821
4220 Birmingham Hwy
Montgomery, AL

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Auto Auction Of Montgomery Inc
(334) 288-3399
6044 Troy Hwy
Montgomery, AL
 
Thoroughbred Motor Cars
(334) 365-2827
1265 S Memorial Dr
Prattville, AL

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Maxwell Motors
(334) 262-3925
410 Air Base Blvd Ste A
Montgomery, AL

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Alozie Auto Sales
(334) 262-4492
3031 Mobile Hwy Ste A
Montgomery, AL

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Dhw Auto Sales
(334) 264-6705
2603 E 5TH St
Montgomery, AL

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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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