Seized Car Auctions A Good Option For Getting A Car
Seized car auctions: a good option for those in search of a great deal on a car. “Cars at 90% off!” “Cheap Surplus Vehicles!”
These are the kinds of statements that you will usually find at the beginning of and advertisement for a seized car auction, So what is a seized car auction? How do these types of auctions work and can you really get a great deal on a car at one?
Is there any catches to purchasing a car at one of these auctions?
Seized car auctions happen in a few ways. A bank will normally repossess the cars of people who are not paying their car loans and will then auction off the car. Additionally there are numerous state and local government agencies that will seized the vehicles of people that have broken the law and hold an auction to sell them. Some state agencies will purchase new service cars and then auction off the old ones.
With most of these types of auctions, buyers will get the opportunity to inspect the vehicles. You are however not allowed to drive the cars. There are no warranties given or guarantees that the cars are in perfect shape which is really no different from purchased a used car off a sales lot.
Seized car auctions, a good option for those that know what they are doing, because if you do not you won’t be getting such a great deal after all. If you happen to have your eye on a potentially popular car there is likely to be heavy bidding competition which often makes what you pay worth more then the car is actually worth.
Your best chance at a great deal at one of these auctions is go for an older car that used car dealers might not want to spend the time and energy fixing up.
You can find auctions for seized cars announced in national and local papers. Additionally you can contact local banks and request information about the auctions that they hold. Many people use an online service to locate these types of auctions in these areas. With some research and a little luck you should be able to see that seized car auctions are a good option for finding a car for yourself, and save some thousand dollars.