An Alternative Way of Buying Cars through Seized Car Auctions
Posted by on September 1, 2010 · Leave a Comment
Have you ever considered owning a car through seized car auctions? Don’t worry if this idea of buying a pre-owned vehicle seems strange to you. This is legal and authentic, given that government officials organize the said auction.
You may be dreaming of having a luxury car, but can’t afford even half of its normal selling price. You need not close in on that dream. You can visit an auction nearest your place and take a look at a wide range of choices that may satisfy your wants or just suit your lifestyle.
Some people may think that previously owned cars are already in bad shape. In reality, most of these seized cars are in good working condition. In some cases, these cars are up for grabs because the previous owner can no longer pay their taxes or car loans. Banks seize a car and later on re-sell it so the bank or the local government can still make a profit out of it.
Before participating in the auction, conduct a few researches about the said event. If this is a closed auction, make sure that you have a license to participate. Next, decide what type of vehicle you want to purchase. Picture in mind the type of model you want and ask yourself a few things:
1. Do I need a luxury car or just a functional one?
2. How much is my budget for a repossessed car?
3. What type of car do I need? Will it be a convertible? An SUV? Will an old car model be enough?
You cacar auction for a low price of $100 in a seized car auction. Make sure you are firm with your decision on the type of car you want, as there are a lot of vehicles to choose from.
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Buying At Repossessed Car Auctions
Posted by on July 10, 2010 · Leave a Comment
Buying a repossessed car is a great way to claim a quality motor vehicle at a sometimes incredible price. The best way to buy a repossessed car is at repossessed car auctions, these car auctions sell cars at such a low price that it can be a dream come true for potential car owner who would have paid a much higher price buying the vehicle at the dealership.
Could all this just hype? Are we really able to save big dollars buying at the auctions? I mean we have all heard the stories, like getting a car for $100 but could this be a reality and are those stories more of a flash in the pan than the everyday norm? If it is really true many of us would be saying where can I sign up to get a car from these repossessed car auctions?
Lets take a look at car repossession and why these cars go to auction. To begin with what is a repossessed car? Well to put it simply it is a car that has been repossessed by the bank, most of the time this occurs when the owner has defaulted on their car loan or lease repayments. When a car is repossessed it is normally held normally for a period of time to give the owner a chance to catch up on payments, if the owner can not catch up the bank takes full ownership of the vehicle.
The main reason repossessed cars are so cheap these days is not because the car is a wreck, in a bad mechanical state nor that it is a bad brand name for that matter, but it is because of the shear number of cars that are repossessed. The storing and maintenance of these cars is huge and it lowers the price considerably for you. Car repossession is on the increase every year.
I know what you are thinking, well if they are that cheap why doesn’t everyone buy their cars this way?
There are a couple of reasons why
1. Ignorance – Basically people’s lack of viable information in regards to these kinds of auctions and also they just have no idea or clue even where you would go about finding information or an auction for that matter.
2. Car Dealers – Yes you read that right they don’t want you to know or even get a glimpse of these kinds of auctions. They are constantly buying these cars at auction for resale. Often times making thousands of dollars on each car.
3. Fear – We are fickle but also we want security. I mean the words repossessed car auctions screams at you something must be wrong with the cars, only problem with them is their owner. The thing is with the right homework completed and some good research you are well on your way to buying brand new hardly used cars for under $500.
Frederick Brown specializes in Repossessed Car Auctions and has been in business for over 10 years in the Automotive Industry. Frederick’s website Allows people to Gain Access to Special Automotive Auction Information which is normally only available to car dealerships. Visit his website Here: http://1407autopark. com
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Buying at Government Car Auctions
Posted by on July 2, 2010 · Leave a Comment
Are you thinking about buying at a government car auction? This article is designed to provide you with the details on how government seized auctions work and how they can get you the best deal on used car. Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.
Government seized auctions are a great place to pick up high end luxury car at a fraction of its original retail price. Have you ever pulled up next to a fully loaded Mercedes at a stop light, glanced over and noticed that the driver is barely out of high school? How could they possibly afford the car payment on that kind of ride? Well, they probably purchased the vehicle at a government seized car auction and paid next to nothing for it.
If you have ever dreamed about owning a high-end luxury car or a customized vehicle loaded with aftermarket parts and accessories, you’ve probably done just that – dreamed about it. Paying retail price for a car like that can put a huge dent in your wallet or your savings account. However, you can get a car like that for much less.
Government car auctions get their supply from criminals. When someone is convicted of a crime, like drug trafficking, the government can seize their assets, including their vehicle. Bad for the criminals but good for you! Government seized automobiles are usually luxury vehicles – BMW, Cadillac, Mercedes, Infiniti, Lexus – and sometimes you may even come across and exotic import like an Aston Martin, Maserati, Ferrari or even a Lamborghini! Not many people can afford a car like this, but it’s possible if you attend a government seized auto auction.
It costs a lot of money to store cars. That’s why government agencies are quick to liquidate their surplus auto inventory as quickly as possible so that they can save money. Government car auctions may also feature their own surplus vehicles, or those no longer needed. These can be passenger vehicles, decoy cars, heavy equipment or even motorcycles, bicycles and ATVs. Other cars features at government auctions are retired police cars or fleet vehicles. These kinds of automobiles are replaced regularly by their respective agencies and are usually domestic cars with high mileage that have been meticulously maintained. You are much more likely to receive vehicle history with a government-owned and operated vehicle than you are a seized vehicle. Keep this in mind if vehicle history is important to you.
There are literally thousands of vehicles available at government seized car auctions. There could be an awesome bargain right around the corner from where you live and you may never know it if you’re not looking. If you’re in the market for a car, especially a high end luxury car, and you don’t want to pay full retail price, government car auctions are the way to go! You will find some of the best values in the car auction market without sacrificing all of your money.
Deb Weidenhamer is President of Auction Systems, the Southwest’s most active auction and appraisal company. Check out our website for the next scheduled government seized car auction or call 800-801-8880 for more information.
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Car Auctions: Savvy Guide to Buying Cars at Auctions
Posted by on June 10, 2010 · Leave a Comment
Gone are the days when you just look at the hood and assess the physical appearance of a repossessed car when you are aiming to buy at a car auction. You need to make further research into important factors about the used car you are eyeing.
If you want to eliminate this need, you should opt to buy a brand new car. A car auction is not the suitable place to buy such cars. Expect to find old, second hand and repossessed cars at any car auction event.
You need to be savvy enough if you are aiming to buy a good and reliable used car. It is not enough that the car you are eyeing looks good or its tag price is significantly higher compared to other used cars. You should be careful because some used cars put on sale at car auctions may be relatively expensive, but does that not mean the status and quality of the car is A-ok.
Here is a list of comprehensive and effective guidelines that you may observe to make your purchase really worthwhile.
1. Bring with you a mechanical expert so that you would have access to first-hand expert opinion. Check the car thoroughly. The engine and the overall condition should be in good status. Almost all car auction organizers make sure the used cars for sale at the their events are in reliable, if not superior, condition.
2. Before bidding, make sure you look at the given history of the car. Used cars that previously had been involved in any accident should be dubious and should not be priced too much because such cars may not function well and may be involved again at possible car incidences in the future.
3. Do not bid too much for any car. Bidding is necessary and is a common occurrence in every car auction. If a car is already priced too much because bidders are competing with each other, let the winning bidder have it. If it becomes expensive, it may not be a good deal.
4. Check the pedals. A simple tip for you: for used cars, pedals are not usually replaced or changed. Thus, you can determine and have a hint of the original condition of the car by looking at the pedals.
The paint and the exterior of the car may have been modified and repaired thoroughly to make the car look extravagant and almost new. But the pedals would give out the car’s deepest, darkest secrets. Likewise, check the steering wheel. There should be no clunking noise if you try to jiggle back and forth the car’s steering wheel.
5. Look closely at the frame. A frame-damaged used car indicates that the car has been involved in a major accident in the past.
6. When checking the paint on the exterior, run a finger into the edges. If there are rough spots, it may be an indication that there has been a major repair possibly from a major collision or crash. The roughness comes from residues from masking tape used during the repainting.
Most of all, rely on your intuition. Your overall feel and impression on a used car would certainly be the best reading. As you prepare to go to a car auction, remember to bear in mind: You are there to find and make the best deal.
Alex Baumm. Register at our Car Forum and find more information on Car Auctions and Used Car Dealers. At our car forums there are lots of tips on how to deal with used car dealers.
Car Buying at Car Auctions
Posted by on April 16, 2010 · Leave a Comment
There are several avenues in which you can buy a car. One of the places you can purchase a vehicle is through a car auction. Even with car auctions you have a couple of different places to choose from depending on where you live. For instance if you live in a smaller town you probably have one or two places to choose from for private car auctions. If you live in a larger city not only will you have the private car auctions but you will also have the police auctions. We will discuss both types of auctions in this article as well as some of the things to be wary of.
First police auctions are usually going to contain older police cars they are retiring as well as cars they may have seized in raids and other police activity where they confiscated the items. This means you could find some really nice cars and a great discount or not find much. Usually the police auctions are held when there are a lot of items to put up for sale. You should also realize that they are not solely car auctions, often time boats and other types of motored vehicles are going to be on the list for sale. The police auctions are also going to offer less in the way of prices in most cases. Since they seized the items all they are really looking for is more income to put back into the department spending budget. This means you can find a car that is within your price range fairly easily. The downside is they don’t always have the type of car you might be interested in.
For a specific model vehicle you would have more luck trying the private auctions. Private auctions are when a company has cars on the lot from an owner that is looking to sell their car quickly and easily. For most of us this is a last resort for selling a vehicle to try and get what we believe is a worthy price. The owner therefore sets the price of the vehicle and if the bids never reach that number to car will remain unsold. The owner does have the option of selling for under their price, but that is a phone call before it could be released. At car auctions they are going to start the biding a little lower than the actual price of the vehicle to get the sale started.
Now that you know about the two different auctions let’s look at a few things you should know. First at a car buying auction you are not going to be able to test drive the car. You can ask to look at the engine, to hear the engine run, but you can’t actually go off the lot with the car. This means you are looking over the car, but not fully testing it and you could wind up with something that has a lot of mechanical issues if you are not careful. Most often the car auction will have a mechanic on hand to test drive the vehicle as well as look it over before the auction starts.
Mark Robinson writes for Auto-Loans. GuideFin. com. Visit his website for information about bad credit car loans.
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Save Money By Buying A Used Car At A Car Auction
Posted by on April 12, 2010 · Leave a Comment
Save your money by opting for auction cars
Sometimes it is very difficult to find a second hand used car in a good condition. Well, if you are searching for a cheap car, it is advisable to take a look at the car auctions organized by police and government bodies. There are cars used by the police, open for auction somewhere in close proximity to you almost every alternate month.
Cars that are auctioned by police are generally the ones that are seized from criminals by the law enforcement agencies. These bodies are also in a practice of selling their own cars once they reach a certain age or go over say, 60,000 miles. These type of auctions offer a large volume of cars. In these auctions, it also happens that some of the good performing cars are sold for very cheap. It is easy for anyone to find a large variety makes and models right from the family cars to sports cars.
If you participate in any auction, you just have to place your bid on the cars you want to buy. During the auctioning, you get a directory of the cars that are open for bidding. So, according to your needs, pick the ones that are of your interest and place your bid. Always remember to find the resale value of the car you are interested in. Once you have determined the amount you are willing to spend for any car, you have to just place your bid. And if your bid is the highest one, the car will be yours. Most of the cars would go from 45 – 70 % less than their actual resale price. Therefore, don’t get excited and get into the bidding process by carefully watching the other bidders.
Try to reach the auction venue as early as possible and remain there until it gets over or until you have successfully owned the cars that you want to buy. Generally, the best deals strike either at the beginning or at the end of the auction. Most of the participants reach late at the auction venue and leave early. Comparatively, there is much less competition in the bidding at the beginning and at the end of an auction.
Before filing the final formalities such as writing the check, or verifying any other document, make sure that you have properly inspected the car. Most of the cars are in good condition but it is always suggested to be prudent, because once you have paid for the car, it’s final. Also, before leaving the auction venue, make sure that you are having all the documents needed for the ownership of the car.
The car auctions organized by the police and other government bodies are a great source of getting a second hand car in good running condition, much cheaper than its actual worth. Even if you use the car for an year or so and then resell it, it is possible that you get an amount higher than the amount at which you purchased the car.
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Buying A Car From Online Car Auction Sites
Posted by on April 2, 2010 · Leave a Comment
So what’s the difference between an online car auction and an offline car auction?
Traditional car auctions are actually more time consuming than online car auctions. You have to actually be at the auctions site to place a bid. Therefore you should live locally or you should travel there. Next you have to register yourself and then spend time browsing the auction floor to see if there’s anything that interest you. And if there’s nothing then you’ve just wasted your entire day and trip getting to the auction.
Normal car auctions usually go through a bidding process and the items goes to the highest bidder. The bidding process can often be heart wrenching and because you get emotional you tend to go over your maximum bid price.
One of the major benefits of buying at an actual car auction is that you get to inspect the car physically before you place you bids and you get to test drive it once you’ve bought it to ensure that the car is not a dud. Some people require a more interactive form of auction so an online auction might not be well suited.
The main difference with a traditionally auction and an online car auctions the fact that you don’t have to actually be at the auction site. You only have to be in your home on your comfortable chair. The next major difference is that you inspect the car when it arrives at your destination. So you don’t have the benefit of checking the car before you buy it however if you do buy a car online you have the benefit of inspecting the car when it arrives and you’ll be guaranteed from the online auction site that if the car has been misrepresented in any way or differ from the description from their website you can exercise your rights and get your money back. So you don’t really risk much at all. Purchasing cars only has been made safer through the years.
So here are the benefits of online car auction sites.
• Shop when its convenient to you
• Search, find and compare prices on all cars and on all websites
• Manage your bids at your own time
• No travelling to auction sites that might be hundreds of miles away from you
• Get a great deal on shipping fees
• All information on the car and images are ready for you to inspect
• Guarantee from online auction site that if the car is misrepresented you can send it back
• Buy a car that’s cheaper than dealer rates
If you buy a repossessed car or an ex government car you can get an even better deal. Look around and you’ll find these deals on the web. Just be patient and do your research carefully.
If you are looking for car auctions or car auction information
then
http://www. carauctioncritic. com can help you
Buying Brand New? Try the Used Car Auction
Posted by admin on March 7, 2010 · Leave a Comment
There are many attractive reasons why people choose to buy from used car auctions and the reason that tops the list is price. Used cars are auctioned off in different ways: online, public, wholesale, insurance & salvage and police & government auctions.
Among these, wholesale and insurance & salvage are more often open only to dealers.
Types of Used Car Auctions
Online car auctions like those on Yahoo and Ebay are very convenient and you can shop for the car you like without leaving the house. Remember, though that you are buying a car you have never laid eyes on and have never physically checked.
This should not deter you, however. There are a lot of sellers online who are legitimate and if you are patient enough, you could just get a great buy.
Government auctions are also a good place to shop for a used car. These are usually government-seized or decommissioned vehicles. There are registered auction lots throughout the United States.
In order to participate, you will need to register and get a bidder number from an auction house before the sale. The registration is free.
A caveat: some of these cars have not been driven or maintained in a while, so they might not be in tiptop condition.
Some tips when participating in an auction
You’ve probably heard the horror stories: getting duped into buying what seemed like a great car on the outside, only to end up with an utterly useless piece of junk two days later.
There are these and worse, but there are also happy endings to some auction stories. The trick is to be prudent and to be prepared.
Check the car’s history through Carfax, an Internet service that lets you search a car’s background. A Carfax report will show reports from insurance companies, police, DMVs and other sources. A similar service is provided by AutoCheck..
While some auctions do conduct some history checks on cars on their lists, some auctions do nothing at all, so it is wise to do some sleuthing yourself. It’s always good to check if the car has a clean title to spare yourself from potential problems.
Come early. There’s less distraction because the auction isn’t crowded yet. Plus, you can check the cars more thoroughly.
Inspect the trunk and hood and open all doors. If you have a VIN number with you, you can match the car with it. If the car doesn’t match, then it could be a stolen vehicle or was fixed using another car’s parts.
Protect yourself by knowing what needs to be checked tires, carburetors, mileage, steering wheel. Check for damages and signs of disalignment, rust, leak, paint chips, evidence of paint jobs or flooding, crooked windows, malfunctioning A/C, excessive mileage, dents and scratches.
If you don’t have the knowhow, bring a trusted friend who can spell out the details for you and do the inspecting and asking.
“As is”. Truly understanding these two simple words can save you from a lot of disappointment. So do the words “buyer beware”. When you buy a car at an auction, or anything for that matter, you won’t have the chance to bring the car to a mechanic to have it checked.
So what you buy is exactly what you see. And what you see is what you are going to get.
A car’s title should be available for you right there, but if it’s not, check the contract to see how long it would take for you to get it. If the contract says that you’re supposed to get it in one week and they don’t deliver, you can get your money back.
Your winning bid is not exactly the money you need to shell out. In used car auctions, there is a buyer’s premium that you’ll need to pay and can cost you anywhere from a few hundred bucks to about 10% of your winning bid.
So if you won a bid for $18,000 and there’s a 5% buyer’s premium, you’ll pay $18,900.
Take your time so you don’t get carried away. In the heat of the auction battle, you could let your passion take over and just keep bidding, forgetting about the buyer’s premium and not realizing that you might be buying that used car at a higher price than fair market value, which actually defeats the purpose of your joining an auction in the first place.
When it comes to used car auctions, there is nothing wrong about being picky. After all, it’s your money that’s on the line. But getting a great deal is really not just about the price.
It’s about buying quality as well so it’s best to have the right kind of information before going in not only to get the right car at a good price, but also to avoid bad deals and unnecessary headaches.
Cordel Dietzig is a long time car auction attendee and also
co owner of http://usautoreview.com where he helps shed some light on Auto Auctions
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Tips For Buying A Used Car At A Used Car Auction
Posted by admin on February 26, 2010 · Leave a Comment
Are you interested in buying a used car from an auto auction or a used car auction? If you are, have you ever done so before? Unfortunately, when it comes to buying a used car from a used car auto auction, there are many first time bidders who end up making costly mistakes. To prevent yourself from being one of those used car auction bidders, you will want to continue reading on, as a few helpful used car auction tips are touched on below.
Perhaps, one of the most important things that you need to remember, when it comes to buying a used car from a used car auction, is that not all used car auctions are the same. Auto auctions come in a number of different formats. For instance, there are auctions where only used cars are sold and then there are others auctions where a large number of products, including used cars, are being sold. To have a larger selection of used cars to choose from, you may want to focus solely on auctions that specialize in the auctioning of used vehicles.
In keeping with the type of used car auction that you wish to attend, it is also important that you examine whether or not you are even able to attend. If you are just one lone individual who is looking to buy a personal car for yourself, you will want to try to find a public used car auction. Public used car auctions are auctions where anyone is able to walk in and place a bid on a used car. It is important that you know what type of used car auction you plan on attending, as there are auto auctions that require proof of a dealership license.
In addition to the type of used car auction that you wish to attend, it is also important that you examine how the auction is operated. For instance, are you required to arrive at the auction and bid on a vehicle that you have never previously seen or had the opportunity to examine? While a large number of auto auctions work this way, you may only want to attend auctions that give you the opportunity to inspect their used cars. This inspection session, if it is available, is often scheduled in the days leading up the used car auction. In addition, you may want to see if the auction house or company in question has an online website. If they do, you may be able to find information, including pictures and detailed descriptions, of some of the cars that at the auction.
It is also important that you examine methods of payment accepted before you start bidding on a used car at a used car auto auction. Unfortunately, many first time bidders mistakenly believe that all auto auctions accept the same methods of payment. This is a mistake can be troublesome and result in a large hassle. That is why it is important that you examine the methods of payment accepted. In most cases, you will find that cash, credit cards, or certified checks are accepted. In some rare cases, you may be able to find a used car auction house or company that offers financing or one that accepts personal checks.
Before bidding on a used car at a used car auction, it may be a good idea for you to speak to an auction representative. Depending on the auction house or company in question, you may even be able to do so before attending an auto auction. When speaking to a company representative, you will want to inquire about the documentation that you will receive when you bid on and buy a used car. After buying a used car, you will need to register it with your local Department of Motor Vehicles (DMV). To register a vehicle with the DMV, you need to have proof of ownership. Most well-known and reliable used car auction houses or companies will automatically provided you with the required documentation, but it may still be a good idea to get verification ahead of time.
Since the used car auction that you choose to attend will have a significant impact on the success that you see, when buying a used car, it is important that you choose your auto auctions carefully. If you are a Chicago resident, a resident of a surrounding area, or would be willing to travel there, you may want to examine North Shore Auto Auction.
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