What are repo cars?
Generally, there is nothing physically wrong with a repo car that you wouldn’t find with any used car lot. A repossessed car is one that has been taken back from the owner by the lender because of nonpayment. Because the lender cannot do much with a car, the lender tries to sell it for as much as it can to cover the outstanding loan. Because lenders aren’t seeking to make a profit, repo cars generally get sold at prices well below those found in a dealership. Where can I find repo cars? You won’t find repossessed cars sold at a dealership or a used car lot. Repo cars are sold at public auctions. Auto auction houses host repo car auctions several times per year. When you contact the nearest auction house, ask when the next car auction will take place. Sometimes, there will be several per year, while once a year is not uncommon in smaller areas. How does an auto auction work? Each auction will be conducted a little bit differently, but you’ll still be able to prepare in advance by unders
