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Repo Car Auctions Searcy AR

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.

Beebe Auto Exchange
(501) 882-6888
610 N Elm St
Beebe, AR
 
Thomas Vaughan Motor Co
(501) 268-1790
3800 E Race Ave
Searcy, AR

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All American Motor Co
(501) 268-3977
1008 S Main St
Searcy, AR

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Pre Owned Auto Mart
(870) 335-1111
6319 Highway 49
Paragould, AR
 
I 40 Auto Auction
(501) 676-5715
913 Frontage Rd
Lonoke, AR
 
Mid Ark Auto Auctions
(501) 882-2333
402 W Illinois St
Beebe, AR
 
Car City
(501) 268-8383
2515 E Race Ave
Searcy, AR

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INSURANCE AUTO AUCTION INC
(877) 550-1262
4900 Kerr
Scott, AR
 
Batesville Auto Auction
(870) 793-5777
115 Cave Creek Rd
Batesville, AR
 
Lincoln Auto Auction
(479) 824-3253
1300 E Pridemore Dr
Lincoln, AR
 
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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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