You’ve heard claims like you can buy cars for as little as $100.00 at repossessed car auctions, but is this true? If so, where does one find listings of repossessed car auctions?
To know where to go to purchase one of these cars, you must first know what a repossessed car is. Most of the time cars get repossessed by the banks, because the owners have defaulted on the car loan or lease payment. When this happens, the institutions such as the banks, the police, the customs or the IRS offer these repossessed cars offered for sale at auctions.
There are actually two kind of car auctions; local auctions and online auto auctions. Let’s take a look at each of them, how they work and how you can utilize them to buy or sell a car easily and convenient.
Local vehicle auctions
To buy a new car is probably one of the least profitable bargains you can do. Ok, prove it!. Just take a look at a used car value book list. The first one to two years of an auto’s lifetime it will lose 30-40% of it’s price as new. A five year old car will have lost 65% of it’s original price. So, if you can accept to buy, not a brand new but a few years older model that almost look like a new one, you can save lots of money. My best advice to you is that if money matters at all, buy a cheap used car.
Let’s say you buy a 5 year old car that has lost 65% of it’s value. Now, the value will only drop 15% or less after the fifth year of it’s lifetime. Come on, do the math; your driving cost for the years to come would only be 10-15% of the car’s original value. Can you see the huge money saving potential in this way of purchasing cars? If we deduct these vehicle costs from what it cost to purchase and drive a brand new auto, you’ll have a small fortune to spend on other things that can make life good for you. After two or three years of driving this car, you may resell it and buy another even newer one.
How does buying car with only 10,000 miles on it for only a few hundred dollars sound? Too good to be true? Well it’s not because thousands of autos are taken over by police, government, banks, etc. when people either can’t afford the payments anymore or get repossessed. These cars are often very new with low mileage and clean titles which can be bought for thousands less than their actual value through an auto auction. Anyone can attend a public auto auction and there are many that go on weekly or monthly. Here’s some tips to use if you decide to try out an auto auction. Tip #1 Learning The Auto Auction Process
When going to an auction, usually at the bidding area there are several lanes going at once, each with its own auction running. Typical of auctions, the auctioneer is talking very fast, in fact, too fast for most people to understand what they are saying. It takes you about 20 minutes to get used to it. They sometimes have helpers in the lanes watching for your bid. As the car drives up the lane to be bid on, flocks of potential buyers will come up to it, you’ll see several buyers rub their Elcometers on the paint to determine thickness, and they’ll sometimes open the hood and trunk to check for signs of body damage. This is not the time to evaluate the car you are about to buy. That is why you should arrive early before the auction starts to view the car. You can call ahead of time at each auction to find out what cars are available, which will enable you to get there early to look at the cars ahead of time. When they are up for bid, its too late to try and get all the detail of the car. Tip #2 Run A Vehicle History Report Before You Buy That Used Car You can check a car title at CARFAX or you can do it easily online at some reputable websites. You MUST run this report if you buy a used car so you don’t get scammed. You have been warned. I just love receiving email from our visitors when they find out the used car they almost bought was a rebuilt wreck. One visitor told me he saved himself $7500. You can find the VIN# on the a plate on the dashboard by looking through the windshield. Some cars also have the 17 digit VIN# printed on stickers on the drivers side door, trunk, other doors. You can also call ahead to the auction and ask them the VIN number of the car you are interested in.
If you are thinking of buying a new auto soon then you may well be interested in learning about repo car auction sales. Car auctions are a really great place to locate major bargains on cars, SUV’s and trucks. Many of the vehicles sold at the repo car auction are nearly new and only have a small number of miles on the clock. Auctions are a great way to look for a new vehicle if you don’t know exactly what you are looking for because there is a large choice of different styles and brands.
You may well have seen the advertisements for government repo sales where they say you can you can find great priced cars. What are these government auto auctions? Some of these car auctions are actually run by the government. These government repo car auctions are very similar to those run by the local state auctions. The government car auctions are very popular with the used car dealerships as they are also looking for great bargains. Sales run by the Police from their car impounds are also an excellent place to look if you are looking for a very good quality car at a really fantastic price. Most often these auctions of seized cars are held at a specific location at regular intervals, usually once a month or maybe every quarter.
If this doesn’t get you excited, than nothing will! Car auctions are a fantastic way to save money on a car. There are a lot of ways to save money on a car that don’t include insurance fraud or outright theft. Buying a new car can certainly seem like a smart decision if you can save some dollars, however car auctions are where the pros get their cars. They can generally be found in all states and happen at least once a month. The trick to buying a car is to buy it at wholesale (like a used car dealer would). Just like all auctions, there are deals to be found through just a little extra leg work. Here are 2 tips to help you in you car auction quest.
1)Use the internet to your advantage. Online resources can be a great help to people who are looking to attend their first car auction. Google the term “car auction KY” or “car auction MI” to look for local car auctions in your state. Also, if you live in a small state (like a state in the northeast), make sure and look for car auction locations in nearby states. For example, if you live in Eastern Pennsylvania, you might want to try looking for “car auctions NJ” or “car auctions NY.” Often times, depending on where you live, a car auction might be happening in a nearby location that’s just over the state line.
Posted in General | Also tagged car auction |
Car auctions in some ways sound very exciting. In other ways they seem to be rather terrifying. There are car auctions taking place every day in some part of the country and online. They will usually be announced in your local newspaper. The ad will state where the auction is and where the cars can be viewed prior to the auction. You can view the cars in the viewing period, find out which ones you are interested in and try to obtain as much information as you can about the cars you are interested in prior to submitting bids. You would like to have a mechanic check out the car and you would like to test drive the car. However, these are options that are unavailable to you when you buy a car at an auction. So you try to do the best check that you can under the circumstances.
One of the things that you can do is to copy down the VIN number. You can then use the internet to check the history of the car. Was it involved in an accident? How serious? Was it involved in a flood? The report will give you this kind of information and only costs a few dollars. When you buy a car at an auction, you are buying it in an “as is” condition. There are no guarantees and no returns. It is purely caveat emptor, or let the buyer beware.
Posted in General | Also tagged avtorentacar cars |
There are allot of things you need to know about car auctions if you plan on using one. They are fairly easy to use but there are a few traps for new players. Some people don’t know about the fees involved in car auction there are fees for both sides of they sale in most cases. The buyer will have to pay a fee, which is usually a percentage of the sale price and the buy most of the time will have to pay the same kind of thing. These fee are not usably too high but you will need to take them into account when you car bidding on a particular car.
When you are choosing a car auction it is often best to try and find one that will suit your needs. There are many different types of car auction some specialize in particular types of cars. There are car auctions that will sell nothing but used car some will sell nothing but second hand cars but most will sell a combination of both. If you are in the market for a second hand car then you are best to find and auction that will have more of that type of car. Some car auctions get very detailed in what types of cars they sell some will sell ex-government car and repossessed cars. The best thing you can do is finding out exactly what you want and then find a car auction that does nothing but that.
Posted in General | Also tagged car sales |
Wouldn’t it be nice to find the car or truck that you want, and only pay a small fraction of what you would at a used car lot? Wouldn’t it be nice not to have to haggle with a used car salesman and have your intelligence continually insulted, just to “save” a couple hundred bucks? Have you ever wondered if there was some secret source where these guys get their vehicles and whether you could somehow buy from it, too?
The truth is - you can avoid a lot of the expense and aggravation normally associated with buying a quality used car, truck or van by simply cutting out the middle man. In other words, go to the source.
If you want to know how to buy cheap cars from government auctions, look no further than your own local city. Police and government auctions are held all the time featuring cheap cars that have been repossessed or taken as property of the state. Call you local officials to find out more about how to buy cheap cars from government auctions, such as when these auctions are being held and where they are located. You’re bound to turn up some good information. You can also check listings in your local paper, which should carry information about such things.
If you’re wondering about how to buy cheap cars from government auctions, then you must already know that buying cars from government auctions is a good way to turn a profit for yourself. You can re-sell these cheap cars to buyers who are looking for used cars for a variety of reasons. If you know anything about cars or work with someone who does, you can even do a little work on the cheap cars, upgrading them and thus upping their re-sell value. When you know how to buy cheap cars from government auctions, there are plenty of ways to make money.
Many of us have been at the car dealership and have been drained by a salesperson during price negotiations for the purchase of a new car. Most people give in too easily or do not negotiate at all to avoid the dreadful act. This only means more money in the car dealers’ pocket, while you are out of several thousand dollars! Yes, they make that much in profit per car.
This article unveils the dealer’s selling tactics and how you can get around them. But before we dive into the new car buying tips, we need to understand what makes up the dealer’s profits.
Car Auctions have been around for years and dealers get a lot of stock from auctions.
But for the average person buying a car from an auction is not so simple.
When you buy a new car, you usually don’t give much thought to car parts. The car comes with a warranty and the dealer takes care of most of the problems. When a car is manufactured it has parts that are manufactured according to certain specifications. The parts that come with the new car are of a higher quality than parts you buy at the auto store. This is why you want to keep the original factory installed parts as long as possible because they will probably never be replaced with anything of the same quality.
The car parts after-market is the market for replacement car parts. Many times you can’t find parts while the car is under warranty unless you buy from the dealer. This is because they aren’t being made for the after-market yet. Once parts are manufactured for the after-market you have to be very careful what you buy because of all of the “knock offs”. Usually you are safe buying a part from a well-known manufacturer. They may not be the exact factory specifications as the original parts are, but they are close enough in terms of material that they will function without causing problems in the car’s operating systems. Knock-offs, however, are another story. They are many times made of inferior material that may not be compatible with the car’s operating systems. This means that the use of knock-offs can damage the car. Saving a few bucks on a part by buying from a manufacturer that you haven’t heard from or buying a knock-off may cost hundreds of dollars in the long-run.
Posted in General | Also tagged avtorentacar cars |
If you are a person who is very budget-conscious buyer who’s looking for a car and getting a brand new or even a quality second-hand one is not your thing, then you can go for a damaged car auction. The same thing goes for individuals who like the challenge of making diamonds out of dirt.
Damaged cars are probably the lowest-priced automobiles out there in the markets today. A brand new car basically loses a little less than a quarter of its value during the first time it is driven out in the street after the purchase, a damaged car has lost most of its market-value after years of torture or after a certain unfortunate incident. However, value is relative to the things that are done to the damaged car. Value can be restored eventually.
The dangers of Hurricane Katrina, Rita, and Wilma are still present today. With reports varying, upwards of 600,000 vehicles damaged by floodwaters have begin to circulate there way through many states via used car auctions and used car dealers and dealerships. I will be giving you a few tips and suggestions on how to avoid the flooded storm cars that lie out there.
Sellers have attempted to hide the origin of where these flooded storm cars have came from by registering the vehicle in different states, it creates a paper trail that can be difficult to trace unless you spend the time for researching.