Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions Wichita KS

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.

Mid America Auto Auction Inc
(316) 522-8407
4716 S Santa Fe St
Wichita, KS
 
Wichita Car Auction
(316) 524-6154
3820 S Broadway St
Wichita, KS
 
mid town body shopan
(316) 942-0683
611 s. emporia
wihita, KS
Car Makes
any
Hours
7am to 5pm mon--fri611

Heersche Auto Enterprise
(316) 777-2500
1609 W Douglas Ave
Wichita, KS

Data Provided by:
Integrity Auto Group-Wichita
(316) 264-6004
106 S Hydraulic St
Wichita, KS

Data Provided by:
Copart Auto Salvage Inc
(316) 529-2444
4400 S Madison Ave
Wichita, KS
 
Insurance Auto Auctions Auctions Inc
(316) 832-1101
270 W 53rd St
Wichita, KS
 
No Coast Customs
(316) 682-2213
1617 S Meridian Ave
Wichita, KS

Data Provided by:
Affordable Autos, Inc.
(316) 262-0025
1301 E Douglas Ave
Wichita, KS

Data Provided by:
Davis-Moore Used Cars
(316) 685-5500
5927 E Kellogg Dr
Wichita, KS

Data Provided by:
Data Provided by:

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...

Click here to read the rest of this article from Lease Guide