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Repo Car Auctions Stillwater OK

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
(877) 550-1262
5754 Apache
Tulsa, OK
 
Leake Auction Company
Toll Free: 1-800-722-9942
11508 East 58th Street
Tulsa, OK
 
I-40 Auto Auction, Inc.
(405) 670-0006
3737 TINKER DIAGONAL ST
Oklahoma City, OK
 
81 Auto Auctions Inc.
(405) 222-2886
1348 Hwy 62
Chickasha, OK
 
Mike Hellack Chevrolet
(580) 369-2344
1630 E Main Street
Davis, OK
Services
Fuel Injection Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Central Oklahoma Auto Auction
(405) 381-4744
4200 E Hwy 37
Tuttle, OK
 
Dealers Auto Auction Of Okc
(405) 947-2886
1028 S. Portland
Oklahoma City, OK
 
Oklahoma Auto Exchange
(405) 680-8660-Toll Free (877) 680-8660
2728 SW 25th
Oklahoma City, OK
 
Mc Cullough Ford Inc
(580) 928-3369
800 NE Highway 66
Sayre, OK
Services
AC and Heating Repair,Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

United Motors Inc
(405) 382-6130
1405 N Milt Phillips Avenue
Seminole, OK
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Used Car Dealers,Auto Dealers

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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