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What determines if a car will be sold at public auction or a private sale after it is repossessed?


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Wiki User
2015-07-17 17:34:07
2015-07-17 17:34:07

The LENDER.

Lenders tend to have deals with auction companies. ALL repo'd cars go to auction, most of which are dealer only. You should be able to ask your bank where it went, then call that auction to see if it public or dealer only.

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Dealers pay low(wholesale) prices at a public auction, private might be better. A lot depends on the car and the markey for it in your area.

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NO. It can be sold any way the bank wants it to be sold

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To get enough people to attend the auction with the aim of increasing the chances of actually selling the auctioned items. Public auctions for foreclosed properties, repossessed vehicles, etc. are required by law to be announced to the public under the statutes pertaining to such in the state where the auction(s) are to be held.

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Invitations to bid are normally given out for a private auction. These events are not open to the public and only a select few are invited to attend and bid on the items up for auction.

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If you mean the shoes, they are cheap when new. If you mean vehicle-a public auction or buy from a private party in the recycler.


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