Repossessed vehicles are vehicles that banks take away from the owner due to non-payment or late payments. The banks hire a third-party company to locate the vehicle and take the vehicle from the owner. If the owner cannot pay the amount owed on the vehicle within the deadline given by the bank, the bank will resell the vehicle. Once the vehicle is resold, the original owner no longer has any rights to the vehicle. You can get a list of repossessed vehicles by contacting a financial institution, your state website or a dealer auction.1
Call or visit any local financial institution. Ask to speak with the bank manager. Ask for a listing of the repossessed vehicles available.
Visit your State Department of Motor Vehicles. Ask for a listing of the current repossessed vehicles.
Attend a dealer auction. You must have a dealer license to visit a dealer auction or you can accompany someone with a dealer license.
Visit an auction website where you do not require a dealer license. An example of an auction website is Choose Cars and the Repossessed Car Store. Click “Begin Search” and choose the state where you want to search for a repossessed vehicle. The results show you a listing of repossessed vehicles that match your criteria.