Cars Repo – Buying At Governement Auctions
Its a sure guarantee that when buying used cars, buying repossessed vehicles from government auctions is gonna get you a much better deal. This is due to the fact that repossessed vehicles go for 40 to 70% less than their original price!
Vehicles that the government acquires come from people that are supposedly involved in criminal cases or simply have bought their property through bad money. After repossession the vehicles are put into a public garage until which time the case has been settled. If the case does not settle in the previous owners favor, it cannot be reclaimed and the vehicle goes to auction.
Mostly it is the private auction houses that the government asks to sell the cars for them. Members of the public then have the right to purchase these cars at very discounted prices.
Now its finding all of the auctions that can be the tricky bit. Just walking up to the police station and asking them for the whereabouts of the seized car auctions is not possible. When trying to locate these seized cars yourself and not use an online searching guide, whats required is visits to the auction houses and research.
Usually the auction houses do not advertise for these repossessed cars so you would have to take out your yellow pages directory and check for their numbers. Once you find numbers, youll have to ask which ones handle auctions of government cars.
Go and visit the offices of the auction places that do sell any seized vehicles.
Look through the lists of the repossessed vehicles that are being auctioned off once you are there. This way, you will have an opportunity to condense your list to the ones you are interested in. Make it a point to get everything you can out of your first visit.
Ask them what kinds of documents you will require presenting. Also the date and time of any auctions and other details like how much money you would need if you won a car at auction. Before attending an auction to actually bid on a car its a good idea to go as an observer first if you can.
Watching how the bidding process works before actually bidding gives you an idea of how it works.
Last of all, practice restraint. Participants can experience a lot of adrenaline due to the competition in the air. There will always be plenty of cars to bid on so if the bid gets too high for you, leave it!
Theres a link to a guide at our site which can give you current lists of dates and times of all auctions of seized vehicles across the US.
The guide will tell you about offline and online auctions.