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Repo Car Auctions Torrington 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.

Crowley R V
(860) 261-3050
9 Barber Street
Bristol, CT
Services
RV and Camper Repair,Auto Dealers,RV and Camper Dealers

Ted Traub Auto Sales Inc
(860) 274-2318
1401 Main St
Watertown, CT

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Baron Motors Llc
(860) 274-7378
172 Davis St
Watertown, CT

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Farmington Auto Park LLC
(860) 747-8420
433 Farmington Ave
Plainville, CT
 
Autos Of Connecticut North Inc
(860) 653-7522
541 Salmon Brook St
Granby, CT

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Torrington Toyota
(860) 482-9496
1472 E Main St
Torrington, CT

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Watertown Auto Sales
(860) 274-1908
970 Main St
Watertown, CT

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Oak Street Auto Sales LLC
(203) 596-1524
34 Oak St
Waterbury, CT

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Tony's Auto Sales
(203) 753-0151
815 Hamilton Ave
Waterbury, CT

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Edwards Driving School, Inc.
(860) 242-1773
116 Cottage Grove Road
Bloomfield, 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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