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Repo Car Auctions Racine WI

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.

Metro Milwaukee Auto Auction
(262) 835-4436
561 27th St
Caledonia, WI
 
Dodgeland of Wisconsin
(414) 427-2000
6319 S 108th Street
Franklin, WI
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Middle Town Motors
(262) 653-1074
3416 60th St
Kenosha, WI

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Autosource Motors Inc
(414) 483-9999
3210 E Layton Ave
Cudahy, WI

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Foster Pontiac
(414) 282-5000
3636 S 27th St
Milwaukee, WI

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Hanna Trailers Inc
(414) 762-7950
7575 S Howell Avenue
Oak Creek, WI
Services
Trailer Repair,Truck Parts,Auto Dealers,RV and Camper Dealers

Hugasian Motors
(262) 886-3937
9000 Durand Ave
Sturtevant, WI

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Guarenteed Auto Sales
(262) 652-3200
3116 22ND Ave
Kenosha, WI

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Crazy Jim Groh Auto Inc
(414) 281-2400
5371 S 27th St
Milwaukee, WI

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Frontier Motor Cars
(414) 282-2144
5150 S 27th St
Milwaukee, WI

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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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