Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Saint Charles MO

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.

Auto Trucks & Van
(636) 947-0770
216 Spring Dr
Saint Charles, MO
 
St Louis Auto Auction
(314) 738-0579
3847 Taussig Ave
Bridgeton, MO
 
Zeiser Motors
(636) 949-2111
2725 Veterans Memorial Pkwy
Saint Charles, MO

Data Provided by:
Steeple Motors
(636) 757-7300
3729 Veterans Memorial Pkwy
St Charles, MO

Data Provided by:
J Walsh Sales
(636) 947-7899
2145 S Old Highway 94
Saint Charles, MO

Data Provided by:
St Charles Public Auto Auction
(636) 947-0770
216 Spring Dr
Saint Charles, MO
 
Chris Auffenberg Chevrolet
(314) 965-0833
1000 N Kirkwood Road
Saint Louis, MO
Services
SUV Repair,Truck Service Station,Auto Dealers

Auto Centers St Charles Llc
(636) 946-4222
3621 Veterans Memorial Pkwy
Saint Charles, MO

Data Provided by:
94 Autohaus
(636) 947-9400
1417 S 1st Capitol Dr
Saint Charles, MO

Data Provided by:
Geoff Rogers Motors
(636) 928-2277
8116 Veterans Memorial Pkwy
Saint Peters, MO

Data Provided by:
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide