Repossessed Motorcycles – Buying Repossessed Motorcycles at Auction is as Simple as ABC
Buying repossessed motorcycles at auction, is the best way to get the bike you want at a really sweet price. Motorcycles are repossessed for a number of reasons including the owner not being able to make repayments, failing to pay taxes or if the bike is purchased through the proceeds of crime. None of these reasons are a reflection on the quality of the bike itself, in fact you will be surprised to find how many are late models with low mileage.
Many dealers buy their stock at auction then sell on their vehicles to the public at a profit. Why not cut out the middleman and get the best possible deal at a repossessed and seized vehicle auction? I will give you some advice here to make sure that you get a great repossessed motorcycle at an even better price. It really is as simple as ABC!
Auctions
These public auctions take place regularly all over the country. You just need to find out where they are taking place and attend the auction in order to view the bikes available and bid on the one you choose. The auctions are not widely advertised, but you may find notices in the legal section of your newspaper. Another alternative is to use an online aggregate auction service, which will provide updated lists of all auctions taking place.
Be Prepared
There are a number of things you should do prior to the auction in order to be prepared. I would advise you to get a list of the vehicles available on the day. Decide which motorcycles you are interested in make a note of the VIN and do a background check. You should also check the market value of the bike and set your bidding limit, to ensure you get great value.
Also, find out what you need to bring to the auction with you. This may include a drivers license, letter of credit from a bank or a credit card with a limit, sufficient to cover your bid etc.
Check
Prior to the auction, you will have an opportunity to check the repossessed motorcycles available. If possible, bring a mechanic along with you for the check if you are not familiar with the technical aspects or engine mechanics of the bike. If this is not possible, make sure you check the bodywork for signs of damage, run the engine and check the oil to ensure that it is clean. Take your time during your inspection and ensure that you are satisfied that the motorcycle is in good running order, before you decide to bid.
Finally, don't abandon the idea of purchasing a repossessed motorcycle, if the first auction you check out doesn't have the model you are looking for. There are many repo auctions, taking place at regular intervals, so just be patient and you might just find a real gem.
Questions and Answers
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