Interested in Car Auctions? Get a Steal of a Deal
Every day government agencies, such as the FBI and the IRS, hold pre-owned car auctions across the country and sell them to the public at unbelievably slashed prices, saving you thousands of dollars. These vehicles are typically under 3 years old. Most people do not know enough about them; some don't even know they exist, but these car auctions are authentic and the deals quite incredible. Obviously, these government institutions hope to raise as much money as they can, but excellent bargains are abundant, some up to 95% off their list price. They wouldn't be as popular if no one participated. All vehicle makes and models are sold – coupes, vans, trucks, SUVs, and even convertibles.
How Government Car Auctions Work
There are usually several lanes bidding at the same time, each with their own auctioneer. As you might imagine, he is talking with rapid-fire precision. Don't worry; you'll soon get the hang of it. There are helpers watching for bids. As the cars drive up, flocks of people rush to it to open the hood and truck, check for body damage, and determine its paint thickness, yet another reason to get there ahead of time to view the cars. This is not the time to appraise your picks.
Many car auctions let potential buyers preview the vehicles a few days before the actual sale launches, allowing you to inspect them at your leisure. You may not be able to road test them, though you can start and check them over. If you choose to shop online, memberships are available. These memberships offer guarantees or warranties. Most pre-owned car lots do not do this.
Have a Plan
The first time you attend car auctions, try to arrive early; you want to beat the other bidders there. This gives you more time to stalk your prey and understand the process. You must be 18 and have a valid driver's license. Most government-run car auctions require no registration charges or buyer's fees. The price of the car is all you pay; however, there may be fees for auctions run by other professional companies. Be sure to have a NADA (National Automobile Dealers Association) guide or a Kelley Blue Book. If you have a pocket PC, you can also surf other vehicle pricing websites while you browse through their online listings. The best deals are on the less-than-perfect, older vehicles – the ones that dealers or traders do not want to spend a lot of money on to repair. Instead, they typically shoot for relatively new, higher-priced vehicles. Remember, they are out to get maximum return by purchasing low and selling high. You may want to consider bidding just slightly higher than them.
Are There Any Risks Involved?
As with anything, there is always a minimum of risk involved when buying cars from a repo or government car auction. In spite of this, you can drastically lower your chances of getting a less-than-stellar deal if you understand how these government vehicle sales are conducted. Car auctions, as a rule, move unusually fast. You may want to attend a few before actually committing yourself. This will enable you to learn bidding techniques and get used to the pace at which they are run.
After you get the vibe and a good feel for the process, do your due diligence and research car-pricing websites beforehand. Even more convenient, some government car auctions allow you to bid and buy online, simplifying the entire process. Their systematic tutorial process makes you a confident buyer at any car auction.
What's the Catch?
If there is a "catch" to these car auctions, it's that there is vigorous bidding among the patrons, especially if your pick of the litter is in great condition, has a dependable reputation, and is a popular make and model. You can safely assume that other people, as well as used car dealers and vehicle flippers, will be every bit as interested as you are. Competition drives car auction pricing up – oftentimes beyond its true value. Don't get involved in the frenzy and go beyond your spending limit. Set your ballpark limit and try to stick to it. See for yourself how easy it can be to own a ridiculously priced, beautiful pre-owned vehicle today.
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If you are looking for car auctions online please visit the best car dealers blog where you will get a chance to join one of the sites with the largest collection of used cars for sale and also you will get links to other used car auctions withing the U.S and other countries offering great discounted prices of upto 95% off on used cars for sale, deals not possible anywhere else.
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