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Repo Car Auctions Torrance CA

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
18300 Vermont
Gardena, CA
 
Prime Auto Auction
(310) 380-4686
20151 Main St
Carson, CA
 
Collateral Liquidators
(562) 988-7611
3854 Cherry Ave
Long Beach, CA
 
Dealers Choice Auto Auction
(562) 424-9490
2875 Junipero Ave
Signal Hill, CA
 
Auto Auction Group Inc
(323) 222-8000
2242 N San Fernando Rd
Los Angeles, CA
 
Prime Auto Resources Inc
(310) 380-4686
18300 S Vermont Ave
Gardena, CA
 
Pacific Auto Auction Inc
(310) 327-8248
460 E Carson Plaza Dr
Carson, CA
 
Abs Auto Auction
(562) 461-2952
16307 Bellflower Blvd
Bellflower, CA
 
Norwalk Auto Auction
(562) 864-7464
12405 Rosecrans Ave
Norwalk, CA
 
Honda Service Center
(310) 782-7200
2280 Crenshaw Boulevard
Torrance, CA
Services
Truck Auto Body,Van 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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