Your Homework List Before Attending a Government Car Auction

Posted: Mar 10, 2011 |

It is a very silly move if you attend a government car auction with the intention to bid and purchase. There is a possibility that you will end up paying more than what the car is worth, have a problematic car or have problems financing the car. So before you head to an auction all ready to start bidding, here is a list of things that you need to check and know first:

• Know what car you want

This includes knowing the price range of it so that you wouldn't keep bidding even when the price goes over the range. Besides, at an auction, you shouldn't even be paying almost the same price that people pay to used car dealers. It should be quite far less than that. To have an idea of how much people usually pay at car auctions, search for a list of winning bids online.

• Know what you are expected to pay

The final sale price of the car sometimes includes other fees, depending on whom the auction was organised by. If it is a government auction, then there will not be any charges or fees. However, if the auction was conducted by an auction house, then it is likely that there are fees that the buyer has to bear. A norm is that the sale price is made up of the amount of the bid, 11% buyers premium, $50 smog fee and $55 documentation fee. There is also sales tax where the rates differ by the region where the car will be registered, and Division of Motor Vehicles (DMV). With this in mind, you wouldn't be surprised when asked to fork out at least of 15% more of the car price.

• Know your financial situation

You need to check how much you have for a down payment and are willing to spend. Prior to attending an auction, find out if your financial situation allows you to apply for a loan. You can speak to a financial institution and they will also advise you on the procedures and the documents to bring along for the auction.

• Know what happens in an auction

You can attend one just to have a look at what happens. This makes you better prepared for the next one, especially if you are going to bid for a vehicle. Simply look it up online to see people's experiences on an auction.

By being better prepared, you are also more likely to win a bid at a car auction.

Questions and Answers

Ask
200 Characters left
Rate this Article
  • 1
  • 2
  • 3
  • 4
  • 5
  • 0 vote(s)
    Feedback
    Print
    Re-Publish
    Source:  http://www.articlesbase.com/automotive-articles/your-homework-list-before-attending-a-government-car-auction-4379806.html

    Article Tags:

    car auction

    ,

    car auctions

    ,

    car dealer

    ,

    government seized cars

    ,

    government car auction

    ,

    government auction

    If you want to purchase a relatively new car at an cost-effective price, then you ought to visit govt automobile auctions rather than going to utilized car dealers. The main reason could be the variety of alternatives that you would get in these authorities auctions. Other than automobiles, vans, boats, and also trucks are sold at unbelievable prices.

    By: Joe McKenziel Automotive> Carsl May 19, 2010

    If you are on a budget and looking to buy cheap used cars online, then one of the best ways is to buy government seized cars at government auto auctions. Many times, you can often buy a cheap car at more than 70% off the current retail market price. It is even cheaper than buying from used car dealers.

    By: Ricky Liml Automotive> Carsl Sep 01, 2009

    Most people do not know you can buy cheap seized and repossessed cars at online government auto auctions. There are many sites available where you can bid for the cars that you want to purchase. This can also work to your benefit, like for example, you are a parent and you want to give your kid a car as a graduation gift – you can buy your gift online and there is no way your kid will ever find out about it.

    By: Ricky Liml Automotivel Mar 07, 2009 lViews: 566

    In this economy everybody is searching for inexpensive vehicles to drive. I hear people asking all the time were they can find a good deal on a car. Car dealers can not afford to give the good deals they use to. Since they have to hold cars longer you are not likely to find yourself a good deal

    By: Zachary Taylorl Automotive> Carsl Jul 28, 2010
    Ram Kumar Parajuli

    The federal government, local and state governments and police are usually the one who conduct such seized property auctions. The working principle is just like any other auctions and items include seized cars, seized jewelry, real estates, electronics, gadgets, laptops etc. All the information regarding the government auction can be found at governmentauctions.org.

    By: Ram Kumar Parajulil Shopping> Jewelryl Sep 15, 2010

    Learn more about Government car auctions and how you can benefit from them.

    By: Robert lMelkonyanl Automotivel Mar 24, 2010
    March Summers

    International vehicle transports service providers offer facilities for shipping you vehicle across to the new country. These vehicle transport companies have the legal authority, the right infrastructure and a wide network to carry out their operations.

    By: March Summersl Automotivel May 28, 2012

    Thinking about cars brings to mind parts like the engine, brakes and radiators as these are indispensible for proper functioning of the vehicle. But there is another important part which deserves mention and that is the windshield. Irrespective of whether it is bought online or from local auto glass shops, a windshield is manufactured from a special glass which is different from the normal sheets.

    By: dylanrossl Automotivel May 25, 2012

    Imagine the day when you finally have your very own car after years of commuting, working and saving for it.

    By: angelicaemmanuell Automotivel May 25, 2012

    Are you thinking of buying a fancy car like a Pontiac or a Porsche? Do you have an old car you want to get rid off while at it?

    By: angelicaemmanuell Automotivel May 25, 2012

    Compact crossover sport utility vehicles, also known as small crossover SUVs, combine the attributes of compact cars and larger sport utility vehicles.

    By: angelicaemmanuell Automotivel May 25, 2012
    Anna Peacocks

    As a loyal Windows user, I am often faced with problems associated with viruses, malware, spyware or even the perplexing blue screen of death. Such nuisance had cause a lot of disruption in my work hence lengthening the time of my job. Thus encouraging me to switch from a Window user to an Apple user, and I am contented and pleased with this decision of mine.

    By: Anna Peacocksl Computersl Dec 08, 2011
    Anna Peacocks

    Technology evolves drastically over the centuries and had been one of the cores of human's lifestyle. However, many are still computer illiterate as most of them are unaware of computer/ technological terms, for instance, registry cleaners.

    By: Anna Peacocksl Computers> Securityl Dec 08, 2011
    Anna Peacocks

    Registry cleaner are often associated with malware or viruses. Hence, to ensure users are able to locate one that is safe to use, recommendations and reviews must be observed.

    By: Anna Peacocksl Computers> Securityl Dec 08, 2011
    Anna Peacocks

    According to Wikipedia, a fire extinguisher is an 'active fire protection device that is used to extinguish and control small fires, often in emergency situations'. Fire extinguishers are required to be placed in all buildings and in some countries, they are a requirement in homes as well. They come with types of agents such as water, foam and dry chemical.

    By: Anna Peacocksl Technologyl Sep 23, 2011
    Anna Peacocks

    We all know that food has a very direct link to our well-being and mental and physical health. Similarly, our mental stat determines the type of food we eat.

    By: Anna Peacocksl Home and Familyl Sep 23, 2011
    Author Box
    Articles Categories
    All Categories
    Quantcast