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Repo Car Auctions Stafford VA

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.

Fredericksburg Public Auto Auction
(540) 368-2500
239 Warrenton Rd
Fredericksburg, VA
 
Lustine Toyota
(888) 608-1696
14227 Jefferson Davis Hwy
Woodbridge, VA
Services
Auto Parts,Auto Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

United Auto Imports Inc
(540) 658-9999
24 Derrick Ln
Stafford, VA

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Shop Autos Online
(540) 286-0801
175 Nottingham Dr
Fredericksburg, VA
 
Ultra Vision Motors
(540) 371-3939
2215 Jeff Davis Highway, Suite 101
Fredericksburg, VA
 
Fredericksburg Auto Auction
(540) 710-8937
4907 Jefferson Davis Hwy
Fredericksburg, VA
 
Optimum Motors
(540) 628-0335
3343 Jefferson Davis Hwy
Stafford, VA

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Car Web
(540) 371-1515
650 E Nelms Circle
Fredericksburg, VA
 
Martin Riley Auto Outlet
(540) 658-1377
10 Perchwood Drive
Fredericksburg, VA
 
Fredericksburg Motorcars
(540) 371-1804
442 Jefferson Davis Hwy
Fredericksburg, VA

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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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