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Repo Car Auctions Utica MI

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.

Motor City Auto Auction
(586) 285-9500
31065 Groesbeck Hwy
Fraser, MI
Charity Auto Auctions
(313) 526-6001
11500 E 8 Mile Rd
Detroit, MI
Mercedes Benz Rochester Hills
(248) 652-3800
595 S Rochester Road
Rochester Hills, MI
Fuel Injection Repair,Radiator Repair,Tune up Repair,Auto Dealers

Car Buying Guys - Junk Car Detroit
(248) 756-1001
226 Slade Ct
Rochester Hills, MI
Mike Riehl's Chrysler Jeep
(586) 772-3700
25520 Gratiot Ave
Roseville, MI

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Ludemans Northeastern Auto Auction Llc
(586) 749-3031
29600 26 Mile Rd
Chesterfield, MI
A & M Auto Auction
(313) 866-9130
91 Manchester St
Highland Park, MI
Meade Lexus Of Lakeside
(586) 726-7900
45001 Northpointe Blvd
Utica, MI

Data Provided by:
(586) 914-4139
29548 Bonnie Dr.
Warren, MI
Roseville Chrysler Jeep Inc
(586) 859-2500
25800 Gratiot Ave
Roseville, MI

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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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