Repo Cars for 90% Off ! Seized Cars for $200 ! Cheap Surplus Cars ! Are
these claims true? Government car auctions. Repossessed cars and trucks. Surplus
vehicles. Sounds like a terrific way to get a bargain car. How does it work?
Are these real deals? Is there a catch? Government car auctions - In a
nutshell In short, various federal, state, and local government and law
enforcement agencies regularly seize the possessions, including autos, of bad
people and auction them off. Or they buy new service vehicles and auction off
the old ones.These are collectively known as "government auctions." Banks and
lending institutions also repossess property and automobiles from non- paying
customers, and sell the goods through auctions. These auctions are real. They
take place almost every day in various parts of the country. In most cases,
anyone can attend and participate. And it is possible to find good deals.
Government car auctions - How they work Government seized- property or surplus
auctions are held all over the country at various locations and on various
schedules. Typically an auction is held at a particular location on a regular
basis ? usually monthly or quarterly. Local and national newspapers often have
listings and details. Usually these are more than just car auctions. All kinds
of property are included. Obviously, these government agencies and lending
institutions are hoping to get as much money as possible for their goods. But
bargains can be had. Otherwise, the auctions wouldn't be as popular as they are
and no one would participate. Do your homework You should always do your
homework before you start bidding for automobiles at car auctions. Know what
vehicle you want, know its value (use Edmunds.com), and knows its history (get
a CarFax report using the car's VIN number). You should be able to get Vehicle
Identification Numbers (VIN) and mileage information from the auction
administrators. Further, it's a good idea to have the vehicle(s) inspected by a
mechanic, or do it yourself. Many auctions have a preview period of about two
days preceding the auction in which you can look over and inspect the vehicles.
However, in most cases, you will not be able to drive the vehicle. And there
are no warranties or guarantees, which is no different than most other used-car
sales. What's the catch? As we've already mentioned, there are always some
risks in buying at government or repo car auctions. However, you can
significantly lower your risks by knowing what you're doing, knowing about the
car(s) you want, researching your pricing, and understanding how the process
works. If there's a "catch" to government car auctions, it's that there's
competition in the bidding. If the car you want is popular and in great
condition, you can expect other people, including used-car dealers in many
cases, to be just as interested in it as you are. Competition and heavy bidding
will drive auction prices up ? sometimes beyond the real value of the vehicle.
Don't get caught up in the frenzy and overpay. The best bargains are usually on
the older less-than-perfect vehicles. Winning and losing You must be willing
to bid and lose in any kind of auction. You must also be willing to bid and win,
and be prepared to pay or finance within the required time set by the auction
company. You can apply for a pre-approved used-car loan at your bank or credit
union. You can also lease your auction car through the services of
LeaseCompare. Just give them the information about the car and they'll tell you
what it'll cost you to lease it from one of their lease sources. How do I find
government car auctions? You have essentially two ways to get started locating
auctions for your bargain car search. Keep in mind that car auctions of all
types and sizes are held all over the country virtually every day. Be aware
that any information you find may be subject to error or change. Try to verify
your auction information before you visit. The first way to find government or
repo auctions is to do all the legwork yourself. Contact your local federal,
state, and local government agencies to determine if they have auctions, where
they are, and on what schedule. Contact banks and financial institutions for
their auctions, if they have them. Contact auction companies who handle auctions
for banks and other clients. Some government auctions are regularly announced
in national newspapers (such as USA Today) or local newspapers as part of the
legal requirements for conducting the auction. These ads usually regularly
appear on a particular day of the week or month. Many government auctions and
sales, both federal and state, are listed on the FirstGov.gov web site, run by
the U.S. government. The second way of finding government car auctions is
through an online auction directory service that does the legwork for you ?
for a fee. Fees charged for these services vary, and average about $40. Be sure
to look for a money-back guarantee. An example of such a company providing this
type of service is CarAuctionSources.com . There are also other companies that
offer similar services. These services provide directories of auctions all over
the U.S., listing locations, descriptions of goods sold, schedules, and other
details. What to expect Don't expect a full list of specific vehicles,
descriptions, and prices for each auction because this information changes
daily? although some services provide more detail than others. Be aware that
the claims these services make to get your attention are typically more than a
little exaggerated. Read their offers carefully to understand exactly what they
provide. Be careful in selecting a service Look for companies that provide a
money-back guarantee in case you are not fully satisfied with their service for
any reason. If you choose to go this route, examine and compare a number of
services before you choose one. They are not all the same, although they tend
to list the same auctions. Do not pay extra for "premium" services. This is an
extra cost that brings no benefits. One more thing If you don't plan on taking
a mechanic around with you to government car auctions, or any car auction, to
inspect vehicles, here is an excellent ebook, Inspect Before You Buy, on how to
perform the services yourself, with checklists and details of exactly what to
look for ? and how to do it. It's written by an experienced ASE certified
mechanic, Jerry Ellingson. Click here to get it! Car Auction
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