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Repo Car Auctions Saint Louis 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.

INSURANCE AUTO AUCTIONS INC
(877) 550-1262
4460 State Route 162
Granite City, IL
 
St Louis Auto Auction
(314) 738-0579
3847 Taussig Ave
Bridgeton, MO
 
Auto Trucks & Van
(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

Tri Star Car Sales
(314) 664-7200
3108 S Kingshighway Blvd
Saint Louis, MO

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Qcsa Auto Auctions
(618) 452-2701
201 Madison Ave
Madison, IL
 
St Charles Public Auto Auction
(636) 947-0770
216 Spring Dr
Saint Charles, MO
 
Suburban Auto Auction Inc
(636) 464-8100
6405 Us Highway 61/67
Imperial, MO
 
Midtown Auto Brokers
(314) 781-3180
3060 Watson Rd
Saint Louis, MO

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Charles Schmitt & Co
(314) 352-9100
3500 S Kingshighway Blvd
Saint Louis, MO

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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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