Auto Leasing Guide
Go to LeaseGuide.com now !

Repo Car Auctions York PA

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.

York Auto Auction
(717) 266-2631
5235 N Susquehanna Trl
York, PA
 
Royal Motor Cars Of York
(717) 757-3838
3901 E Market St
York, PA

Data Provided by:
Autocraft
(717) 845-5314
1508 S George St
York, PA

Data Provided by:
Auto Ventures Inc
(717) 757-4594
4365 Lincoln Hwy
York, PA

Data Provided by:
Priceless Auto Sales
(717) 792-5326
6057 Lincoln Hwy W
Thomasville, PA

Data Provided by:
MillerS Autos
(717) 432-3064
630 U S Rte 15
Dillsburg, PA
Services
AC and Heating Repair,Auto Inspection,Auto Repair,Used Car Dealers,Auto Dealers

Steve Eckert Auto Sales
(717) 848-2679
177 S Harrison St
York, PA

Data Provided by:
Chuck's Automotive
(717) 792-5371
138 S Main
York New Salem, PA

Data Provided by:
Platts Motors
(717) 292-3830
4011 Carlisle Rd
Dover, PA

Data Provided by:
Finish Line Auto Sales
(717) 225-6554
6470 Lincoln Hwy W
Thomasville, PA

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