Government seized car auctions can work for you if you understand how they function and learn how to make use of them to buy cheap vehicles. Few people actually even know that they exist which gives you an edge over most folks. While it is really a disadvantage to the government to sell the cars at dirt cheap prices, it is great gain to you as a potential buyer.
How do Government Seized Car Auctions come about?
The government agencies are confiscating or repossessing many vehicles everyday. A good estimate puts that figure at thousands a day. These automobiles originally belong to owners who are either in debt to the government due to tax arrears, defaults or criminals at large. Under the seizure laws, there are legal provisions to seize these properties. The sheer number of vehicles being seized each day is overwhelming and the agencies desperately need to get rid of them quickly.
It is this situation that creates the opportunity to purchase vehicles at rock bottom prices. Do not be surprised to find cars, even luxury cars at up to 90% off the prices you see at the local car dealership. You can even drive home a decent branded vehicle for $100 occasionally.
Other important things to note about government seized car auctions
To participate in such auctions, you need to be at least 18 years old. Bring along your ID when you are there as verification is needed. Alternatively, get someone who meets the age requirement to represent you.
There are some auctions which are not privy to the general public. This requires the application of a license in order to be able to bid. Normally, these are for the dealers. Nonetheless, there are plenty of public auctions which you can participate in whether you are buying a car for your personal usage or for profits.
The conventional method to locate these government seized car auctions would be to check with your local government auctioneers or city council for information about the vehicles available and auction venue. Such details could be found in the newspapers and auto magazines as well. Unfortunately, a lot of this information is not always updated and real-time.
Ideally, you need to know about the venue and car listings before you even enter an auction. This gives you ample time to find out all you want to know about the vehicle details such as its car value, make, model and performance. This piece of information can be found on seized auto search directories like the one listed in my blog.
Typically, there are dozens of government seized car auctions happening at various states at any point of time. So you can actually plan your route over the weekend perhaps to drive from one to another to view the vehicles. It is always wise to list down a top 3 or 4 favorite choice you would like to bid for. At least if you miss one, you can always bid for the next.
Likewise, to do so, you need to be fully aware of where the auctions are happening as well as when and what time. They normally open early so that you can be there prior to the bidding to actually see the displayed vehicles to make your pick. This information is found in online seized car search directories.
Finally, always bring along a qualified car mechanic as he would be able to perform simple diagnostics to assess the condition of the vehicle. If you have a friend who is good at that, ask him or her along. To get started, check out my blog for an up to date listing of the current government seized car auctions.
Government Seized Cars For Sale
You really need to consider government seized car auctions if you want to buy a quality car on a tight budget. Quite frankly, even second hand car dealerships cannot offer you a better deal than the auctions. There is always a middle man fee that used car dealers would have to charge for profits and their service. On the other hand, the government is only concerned about selling away the repossessed or seized cars without making a profit. This opens a door of opportunity for anyone to drive home a quality car at very low prices.
Buying Cars at Government Seized Car Auctions Carry Some Risk
I would be bluffing you if I told you it is a bed of roses to buy cars at such auctions. Naturally, there are risks involved in bidding at auctions. But with some key tips which I am going to mention, you would be in a much better position to get a quality car for a price much lower than what it is worth.
1. Check the title of the automobile. If it is a rebuilt, take at least 30% off its value.
2. Do a vehicle history report. Compare the odometer reading against your report mileage reading. There is a physical method to do so. You can always check the brake pedals to see if the wear and tear is excessive. If the condition is very worn out and does not seem to tally with what the odometer is showing, then there is a high chance that the car’s odometer has been tampered with to show a low mileage.
3. Deduct the value if the car has exceeded the average mileage. There is a standard for the annual mileage of vehicles. According to the US Department of Transportation, on annual average, a car is driven for 13,500 miles. If the car you are interested in bidding has crossed the average, say by 1000 miles, take this figure and multiply it by 15 cents per mile exceeded. This is the value you should deduct. In this case, it is $150.
4. Gain some experience and get yourself familiar with the entire bidding process at the government seized car auctions. You may want to attend a few to understand how the process works before you actually bid for a car at the auction. It can be overwhelming for a first-time owner.
5. Trust your instinct and think logically. If a car looks really good and there is no way it could be priced so low, then there is a high probability that something is wrong with it. Avoid bidding for it even if you love it. Believe your logical mind.
Simply following these 5 key tips can save you a whole lot of headaches later and get you a better idea of how to bid for the right wheels at the auto auctions. Finally, take action and check out where is the upcoming or existing government seized car auctions in your neighborhood through my car blog.
Davion Wong Wong has sinced written about articles on various topics from Beauty Tips, Car Auctions and Car Auctions. Davion is crazy about fast cars. Uncover useful tips on such as where to find cheap seized car auctions near your home at his wildly succe. Davion Wong Wong's top article generates over 246000 views. to your Favourites.
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