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Repo Car Auctions Storrs Mansfield CT

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 AUCTION INC
(877) 550-1262
47 Newberry
East Windsor, CT
 
Day Garage
(860) 290-5349
56 Mascolo Road
South Windsor, CT
Services
Truck Auto Body,Truck Dealers,Used Truck Dealers,Auto Dealers

Martino Auto Sales Llc
(860) 871-7779
53 1/2 Windsor Ave
Vernon, CT

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Vernon Motor Cars
(860) 871-9057
13 Windsor Ave
Vernon Rockville, CT

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Frank's Auto Credit
(860) 649-3000
285 Broad St
Manchester, CT

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Bolles Chrysler Dodge Jeep
(860) 684-8888
121 West Stafford Road
Stafford Springs, CT
Services
Auto Repair,Van Dealers,Used Car Dealers,Auto Dealers

Moore's Automotive
(860) 872-2024
1246 Hartford Tpke
Vernon, CT

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StangShop LLC
(860) 450-8463
478 Bass Rd
Scotland, CT
 
Frank's Auto Credit
(860) 649-3000
285 Broad Street
Manchester, CT
 
Fast-Go Service & Auto Center
(860) 643-1957
275 Main St
Manchester, CT

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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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