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Repossessed Car Auctions: The Best Way to Purchase Bank Repo Cars at the Lowest Price
April 21, 2010 08:53 PM PDT
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Repossessed car auctions have been the latest rage for quite some time now. With repossessed cars being sold for 30% of their regular price or even less sometimes), repo car auctions are becoming more popular each day among the average American. 

Bank repossessed cars are vehicles whose owners have defaulted on their auto loan payments. After regaining possession of the car, banks usually resell these repossessed autos at repo car autions. Since it's in he lien holder's best interest to sell these repossessed vehicles as soon as possible in order to recup their investment, bank repo cars are usually sold at a fraction of their price. This is the main reason why the popularity of repossessed car auctions is peaking. A second reason could be the fact that repossessed auto auctions are commonly percieved as one of the safest environments to buy a cheap used car for sale.