Getting a vehicle by Auction Car Sale is becoming more and more accepted as the internet spreads it reach across the globe, and more people discover this medium. The old “Caveat Emptor” (Let the Buyer Beware) adage applies equally to the internet as it does in the off-Line world. In short, with a little bit of common sense, there are real bargains to be had using the internet to source Auction Car Sales and to actually purchase a Car via an On-Line Auction.
In most developed countries, Government Enforcement agencies, and Financial Institutions are constantly taking possession of vehicles and other goods.
They don't really want to, as it's certainly not part of their core business. Government and Enforcement agencies are empowered to confiscate proceeds from criminal activities; often these can be late model and prestige Cars.
Financial Institutions repossess vehicles when those that bought them on credit, can no longer afford to meet the repayments due to a variety of circumstances.
Once the vehicles have been acquired by these organizations they need to be on-sold very quickly. To have them standing around just adds extra costs associated with safe storage, handling, and pre-selling, to the losses they have already suffered.
They NEED to SELL them and with a far amount of urgency.! This is where you can get a bargain..
For the authorities that impounded the Cars, their main concern is to avoid adding storage costs and getting funds to help their overall budget - they just want quick cash, thank you very much..
These vehicles are available for sale from both physical auction sites and via on-line auction sites
A number of sites offer listing details and site locations for Auction Car Sales. Some just glean the information from public notices and newspapers, while others charge a small one-time fee to access their vast databases. These databases are constantly being updated and provide more access to seized and repossessed cars than the free ones. Some even tell you where the Dealers buy from..!
Some basic research and background checks should be made by you before you rush out and start bidding.!
Find out the usual price of the make and model you are interested in. Look at online ads by Dealers, newspaper online classifieds, etc. Are you mechanically minded.? If not then take a friend with you who is. What about the local mechanic.? Maybe offer to buy them lunch - it's not going to break the bank - especially when you could be saving thousands of dollars with their help.!
Before you get bidding, find out the terms and conditions and how they expect you to pay; how you get to pick up the car, and any registration or tax costs..
One tip is to write down (and don’t show anyone else) exactly what your limit is going to be. You will be surprised how much over budget most people will go at an auction car sale. The fear of loss just keeps them bidding higher and higher. So write it down and keep to your limit - remember you are out to get a bargain..
Hopefully you find these tips on Auction Car Sales useful? You can look at some Auction Car Sale listings in your area HERE
Happy Motoring..!!
More coming soon from the Auto Auction Guy...
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