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Repo Car Auctions Princeton NJ

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.

Copart Auto Auctions
(609) 918-1720
108 N Main St
Hightstown, NJ
Baker Chrysler Jeep Dodge
(609) 921-2222
1045 U.S. Highway 206
Princeton, NJ
Alignment Repair,Auto Body Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Van Dealers,Used Trucks Dealers,Auto Dealers

Peruzzi Pontiac Buick GMC Sales and Service
(215) 943-6000
165 Lincoln Highway
Fairless Hills, PA
Clutch Repair,Radiator Repair,Retail Tire,Tune up Repair,Truck Dealers,Auto Dealers

Dick Greenfield Dodge & Isuzu
(609) 895-1111
Us Highway 1
Lawrenceville, NJ

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Arena Auto Exchange Sales
(609) 888-0134
2466 S Broad St
Trenton, NJ

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Adesa Auctions New Jersey
(908) 725-2200
200 N Main St
Manville, NJ
Progressive Automotive Inc
(732) 545-7295
545 Georges Rd
North Brunswick, NJ
AC and Heating Repair,Auto Inspection,Auto Repair,Diagnostic Services,Auto Dealers

Royal Chevorlet Inc
(732) 356-2460
1548 US Highway 22
Bound Brook, NJ
Radiator Repair,Tune up Repair,Truck Dealers,Used Car Dealers,Auto Dealers

C J Motors
(609) 882-0003
1459 Princeton Ave
Ewing, NJ

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Fennessey Buick Inc
(908) 725-3020
Us Hwy 202 206
Somerville, NJ

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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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