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Repo Car Auctions Tyler TX

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.

Greater Tyler Auto Auction
(903) 597-2800
11654 State Highway 64
Tyler, TX
 
Larry Crawley Used Cars
(903) 592-7542
1521 W Erwin St
Tyler, TX

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Herchel's Auto Sales
(903) 593-3677
910 W Front St
Tyler, TX

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Team Perryman Auto Sales
(903) 825-6064
18931 State Hwy 155 S
Flint, TX

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INSURANCE AUTO AUCTION
(877) 550-1262
204 Mars
Wilmer, TX
 
S & S Auto Sales
(903) 535-9095
1332 W Erwin St
Tyler, TX

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Peltier Chevrolet
(903) 360-3577
2700 WSW Loop 323
Tyler, TX
 
Crown Motor Co
(903) 581-7688
4716 Troup Hwy
Tyler, TX

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INSURANCE AUTO AUCTION
(877) 550-1262
14651 Gateway
El Paso, TX
 
Insurance Auto Auctions
(877) 550-1262
227 Loop 1604
San Antonio, TX
 
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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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