photo credit: dmytrok

You have probably heard of people buying cars at government auctions for amazingly low prices. Even on nice cars, the bids start very low – often in the hundreds of dollars. People really do buy nice cars for very low prices, because the government, whether a local police department or a national agency like the DEA, wants to unload these cars to avoid having to pay for storage and maintenance for them. Seasoned car dealers often buy cars at these auctions, and for obvious reasons, they keep quiet about this great source of good pre-owned cars. But in many cases, you can bid on cars too, whether online or at a live auction.

You may have thought about buying a car at an auction, but were turned off by some of the disadvantages. But think again: there has never been a better time to buy at an auction, not just because of the enormous selection of cars, but also because of the wealth of information you can gain beforehand to ready yourself for the process. Here are three common concerns about car auctions and why you should consider an auction anyway.

1.    Cars are sold “as is.” While there may be a three month guarantee that a car runs, you can’t exactly exchange it or return it for a refund. That means you have to be sure up front that you won’t be wasting money on a defective vehicle. Here’s how to do that: get a CarFax or other history of the car beforehand. At a live auction, give the vehicle as detailed a vehicle inspection as you can. If you can bring a mechanic, or even someone you know who works on their own car, that’s even better because they will know what things to look for, like signs of flooding or water damage. And you can always copy the VIN and have someone at home ready to get a history report on the car for you.

2.    Live auctions can be intimidating for beginners. It may be hard for you to keep up with the auction pace. There are several ways you can address this. You could attend a couple of auctions just to watch, so you can get a feel of the pace and watch what car dealers do when they bid. Some online informational sites have free material to educate you on how to participate in live auctions. And if you’re sure that a live auction just isn’t for you, there are many online auctions in which you can bid.

3.    Time and sales pressure discourage you from trying. There is a lot involved in successfully bidding on a car at an auction. Finding the auction, registering, visually inspecting the car, being ready with a down payment, and following up with the balance of payment are all time-consuming tasks. And you must be prepared to move fast, so you’re under pressure. Again, online auctions are one solution to your concerns. But also, researching the make and model you’re interested in, and knowing in advance how high you’re willing to go on the models you might bid on will help you remain calm in what may seem a chaotic environment.

If you like the idea of buying a car at an auction, you probably still have concerns about the process. Gathering as much information in advance as possible, being ready with a down payment, and knowing your own bidding limits could help you save thousands of dollars on the car you’ve always dreamed of.

This post is courtesy of Government Auto Auctions blog where you can get the latest news in government auto auctions.

Three Reasons Not to Forego Government Auto Auctions

Similar Government Auto Auctions News

1. US Government Car Auctions. Police Auto Auctions. Seized Cars Repos http://ShortWayTo.com/Car-Auctions/ Gov Auctions Offers Government Car Auctions and Seized Cars...
2. US Government Car Auctions. Police Auto Auctions. Seized Cars Repos http://ShortWayTo.com/Car-Auctions/ Gov Auctions Offers Government Car Auctions and Seized Cars...
3. GET DIRT CHEAP CARS – Seized Car Sales !!! http://www.ace-reviews.com/seizedcars.html Keywords seized autos seized vehicles seized auctions seized trucks...
4. Car Aution – Government Auction Car Review GO TO http://509d87ifp27zvv3qj7p4kmyo2f.hop.clickbank.net/ – Government auctions-car auction-cheap used cars..Welcome to...
5. The best deal for Cheap cars online? Is this the best offer for Cheap cars online? I...

photo credit: The Talented Mr. Nimo/On Vacation

If you are interested in purchasing a car at a government or other auction, hopefully you’ve done your homework about how the auction process works, the terms of sales, and arranging for full payment after you’ve put down a deposit on a bid you’ve won. Here are ten tips for buying a car at an auction. Some apply more to online auctions and some apply to live auctions, but you should be prepared either way.

1.    Don’t bid against a seasoned car collector unless you happen to be very wealthy. Collectors can be doggedly determined to get a certain car, and are sometimes willing to bid more than the car’s original value. Of course, if it ends up being priceless, they’ve still made a good investment. Seriously, experienced car collectors play hardball, and you don’t want to bid against them unless you have plenty of money and know what you’re doing.

2.    Get a report on the car’s history. Sometimes auctions will provide these, but sometimes you have to get the information yourself. If you look over cars at a government auction a couple of days before the actual bidding, you’ll have time to do this. If not, perhaps you could have someone at home who can go online and check a VIN for you. It may be $30 or so, but it could save you major headaches if a car has been flood damaged or rebuilt.

3.    Check out auction sites to see how much cars you’re interested in generally go for. You won’t get a car from a government auction for as little as you would for a wholesale auction, but you can still get a good deal.

4.    Make sure you have enough money to bid. This seems blindingly obvious, but people do get caught up in the bidding process. You’ll have to put down a cash deposit the day of the auction, and then you’ll have a day or two to come back and pay the rest. Make sure you have the money at hand to do this.

5.    Retiring government vehicles have generally been well maintained, serviced, and cleaned. In fact, you may be able to get a copy of the maintenance history.

6.    Repossessed vehicles or vehicles confiscated over drug or tax matters could have rough histories. You definitely want to run a VIN check for a car that was seized in this way.

7.    Determine to the best of your ability whether an auction has run a thorough title check on a car. You do not want to buy a car at any price when you don’t know if it has a clean title.

8.    Factor in other costs when determining how high you will bid. There may be a “buyer’s premium” of 5 to 10%. If so, be sure to calculate this in when deciding your highest bid.

9.    Cars from rental agencies are usually maintained, clean, and only a couple of years old. These can be great choices, but you probably won’t get a former rental car dirt cheap.

10.    If you get a bad feeling from an auction, or about a particular car, listen to your gut. You have very little recourse if you buy a car at auction and it breaks down the next day.

If you do some research up front, know your bidding limits, have the necessary funding, and are able to keep a cool head in a fast-paced situation, you could do quite well buying a car at an auction.

This post is courtesy of Government Auto Auctions blog where you can get the latest news in government auto auctions.

Ten Tips for Buying a Car at Auction

Similar Government Auto Auctions News

1. GET DIRT CHEAP CARS – Seized Car Sales !!! http://www.ace-reviews.com/seizedcars.html Keywords seized autos seized vehicles seized auctions seized trucks...
2. What are the most important things to check at an auto auction? I want to go to a government seized auto auction...
3. How much should i be willing to pay for an off-lease 2006 Malibu at a government auction? Sedan with~50,000 miles. I don’t want to overpay and haven’t...
4. The best deal for Cheap cars online? Is this the best offer for Cheap cars online? I...
5. Not a cure all to the auto crisis, but do you think this better than just giving them money? My idea is this: We spent $19 billion a year...