Auto Auction Secrets

You may be aware that, all over the country, auto auctions are in full swing at all times. What you may not be aware of is that you can easily find incredible bargains at these auctions that will enable you to purchase a vehicle very inexpensively and possibly even resell it for a profit.

The two leading sources of these auto auctions are banks and the government. In the case of the government, you can be dealing with the federal, state or local level. Banks auction repossessed vehicles, frequently for pennies on the dollar. They are not in the vehicle business and want to turn these unwanted possessions into cash as quickly as possible.

Usually, banks will auction vehicles for what is owed to them on the loan that they initially issued. In some cases, there could be very little left on the loan, and you could be in line for a significant bargain.

In the government’s case, whether you’re dealing with federal, state or local authorities, there is a different imperative involved. The government never issued a loan on the vehicles they auction, so getting their money back is not foremost in their minds. Most vehicles auctioned by governments have been seized, along with other possessions, from individuals who have been involved in illegal activity. As a result, since there is no target amount to derive from the auctions, vehicles can and do get sold for very little money.

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Governments also auction their own fleet vehicles that have outlived their usefulness. Usually those vehicles will be relatively high mileage, but don’t let that scare you off. Government vehicles are, for the most part, very well maintained, so the risk involved in buying a used car with high mileage is minimized.

There are some disadvantages to purchasing a vehicle at an auction. First, you don’t have a chance to test drive the vehicle. Second, you’ll usually have to pay cash on the spot, with no financing being offered. Third, no warranties are issued, so it pays to study the vehicles and to know your stuff. But as in anything else involving a purchase, if you prepare carefully and do your homework, as well as using common sense, you can find a great bargain.

If you adopt a careful approach and go in with our eyes wide open, you can win at the auto auction game. With the price of cars steadily rising, this may well be your best option for saving lots of money and getting a good vehicle as well.

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How to Find Government Seized Auto Auctions in Your Area

Finding car auctions in your area has never been easier thanks to the current online car auction databases. In the past government seized auctions would mainly be found in local papers or maybe flyers in the post and they still are, but the advantage of finding government auto auctions online is that you get to see the wider picture. You literally can find every single car auction happening in and around your city, whereas if you were looking in the local paper every day you might only spot a car auction here and there and miss the ones in your surrounding cities.

Going to a local seized vehicle auction in your area is by far the safest bet if you want to find a decent car at an affordable price. Many car enthusiasts visit government auctions and manage to pick up sports cars, or even classic cars as well as your every day family car for a fraction of its original price. The reason these cars are often sold at such a good price is that they are seized and need to be sold due to storage costs or a fleet of ex government vehicles that need to be sold quickly in order to raise some money for the department.

The benefit of visiting government seized auctions in your home city or state is because you are given the chance to inspect the vehicle before you bid. Many people prefer this rather than visiting online auctions such as eBay, due to the fact that they can avoid any scammers and get to give the vehicle a full inspection before they part with any money. Unfortunately buying cars in online auctions can be risky, you could end up purchasing a faulty car and then have to spend extra money fixing any problems.

When you visit a seized auto auction be sure to take someone with you who knows about the mechanics of a car, in order to save yourself from bidding on cars that need a bit of work done to them. Try not to get into any serious bidding wars if you are a newbie. Maybe visit a couple auctions and learn how everything works so you can be confident you are getting what you want when it comes down to bidding on the seized cars.

So the easiest way to find car auctions in your area is to access an online database. You will find a full list of auctions in your state and city and be able to see any upcoming government or police car auction events. This will give you the edge over others who see ads in papers since you can be first in line to know.

Who Can Go To Auto Auctions?

Auto auctions are a great place to buy a reliable vehicle at a price that’s affordable. While most car dealerships purchase many of their vehicles at auto auctions, it’s also possible for the public to attend and buy vehicles at auto auctions too.

While some auto auctions are only for dealers, there are also many government auctions that are open to the general public. At these government and police car auctions, the only requirement is that you must be over the age of 18 to purchase a vehicle. When you go to an auction, you must also show a photo ID, such as a driver’s license.

Many people think they need a dealer’s license to buy a car at auction. If the auction is for dealers only, then this is true. However, at public auctions, you do not need to have a dealer’s license to buy a vehicle.

All kinds of people shop for their vehicles at government auctions for various reasons. The most common reasons are listed below:

  • Affordability – these cars are less expensive than cars at a dealership
  • Re-sell purposes – buying and selling vehicles to make extra money
  • Bad credit – the ability to buy a car when you can’t get a loan
  • Reliability – government vehicles are well-maintained

While it’s possible for anyone to buy a vehicle at a public auction, if you don’t know a lot about cars, you should bring someone with you to the auction who does. It’s always a good idea to check underneath the hood and to inspect the body of any car you buy. This is not only true for auctions, but also when you purchase a car from a dealership or a private party.

A person who is knowledgable about automobiles can usually tell if a car has any major issues or any minor issues that can be easily repaired. If you have a friend or relative who is a mechanic, bring that person along with you to the auction.

You won’t be able to drive any of the vehicles that are for sale at the auction, but you will be able to open the hood, look at the engine and check the oil. You’ll also be able to start the vehicle so you can hear how it sounds when it’s running.

So in conclusion, even if you’re not a car dealer, you can still find a great used car at an auto auction. Just be sure to check out each vehicle thoroughly and if you don’t know a lot about cars, bring someone with you who does.