Home » Internet » Auctions

Repossessed Auto Auctions - Read Before You Bid

Jan 9, 2008
Nowadays, repossessed auto auctions offer an excellent opportunity for anyone to buy their dream cars without blowing their budgets. Perhaps you also intend to check them out. So this information here would be useful to you as we discuss about repossessed auto auction.

Introduction - What Exactly Is a Repossessed/Seized Vehicle

Repossessed property, including all kinds of vehicles, is seized, surplus and unclaimed property, which the government tries to get rid of and recover losses fully or partially. The auctioned cars come from various government offices, banks and lending institutions, police and law enforcement, etc.

What Kind of Vehicles Are Sold

The types of vehicles sold come in a wide variety. You can find sedans, 4-wheel drives, race cars, sports cars, sports utility vehicles, motorcycles and even vintage cars. As for their condition, majority of them are in excellent working condition. Of course, you can expect some to have slight flaws like scratches, dents and therefore require minor repair work. But occasionally, you do find brand new cars offered at more than 50% off their retail value. It is quite likely that their original owners could not afford to service the loans.

How Cheap the Vehicles Are

These vehicles start with very low prices and are bided upwards by interested parties. If the car model is a hot favorite, then it can skyrocket to ridiculous prices. That said, most people are still able to drive home a set of wheels for 80% off the showroom price. Such seized or repossessed vehicles are better deals than buying from private car dealers.

Basic Rules and Requirements

In order to be able to take part in a repossessed auto auction, you must be over 18 and have a driver's license. In most cases, you will have to pay a registration fee. You may also want to have the Kelly Blue Book in order to estimate the value of the cars and a professional mechanic for vehicle condition assessment in case you are not auto savvy. As the pace of car auctions is rather fast, previous experience won't hurt as well.

Repossessed Auto Auctions Venues

Such auctions happen all the time and at all places throughout the year so you should be able to find one near home. For a start, call up the local government agencies branches and banks or even auction houses for a schedule. Check out the local newspapers for advertisements for auctions also.

There is a lazy man's method nowadays that is gaining enormous popularity among car buyers. Online auction directories offer instant information to details of the auctions taking place at any point of time. So, once you pay the one-off affordable fee, you get unlimited access to the database. From there, you would know where the repossessed auto auctions are taking place, what time are they happening as well as the type of vehicles they are selling.

Wait no further and come quickly to my car blog to conduct your search for the car of your dream.
About the Author
Find your dream car through seized car auctions today. Also, read this popular article on seized car auctions.
Please Rate:
(Average: Not rated)
Views: 239
Print Email Share
Article Categories