How It Works
What is Rocket Repos?
Rocket Repos is an auction platform designed specifically for financial institutions to sell their repossessed vehicles. It offers free vehicle listings and a streamlined auction process.
Only financial institutions can list their repossessed vehicles on Rocket Repos. Simply request an account and provide details and photos of the vehicle you wish to sell.
Once a vehicle listing is submitted, our team reviews it to ensure it meets quality standards, helping maintain a trustworthy marketplace.
After approval, the vehicle is placed in a live auction for seven days. During this period, potential buyers can place bids directly through the platform.
As the auction countdown progresses, buyers can monitor bids and place their own. The last bid placed before the timer runs out is declared the winning bid.
Once the auction concludes, the winning buyer is invoiced for 5% of the final sale price (with a minimum of $250 and a maximum of $2500).
After payment is received, Rocket Repos facilitates communication by sending the buyer and seller each others' contact information to coordinate the final details of the sale.
Both buyer and seller are responsible for arranging payment, taxes, title transfer, and the delivery or pickup of the vehicle.