Car Auctions ‐ The Best Way to Buy Cheap Cars
If you want to buy cheap cars at the best price possible, you will not find them at a car dealership or even with a private seller. The best strategy that will save you thousands on your next car is going to a car auction.
There are different types of car auctions such as a public auction, an insurance auction, a dealer auction, or a government seized auction. The last type tends to provide buyers the best deal. It is highly recommended for savvy people who want to buy cheap cars to attend auctions in their areas as many car dealers obtain some of their inventory through this avenue. Obtaining a vehicle at an auction is like getting it at wholesale.
The variety of vehicles available at auctions includes a wide assortment of cars, trucks and SUV’s. Their quality ranges from almost new to older. Many of these are obtained as bank repossessions. With car loans going unpaid at an all time high, banks have a large amount of vehicles to move. They must sell and recoup their money as soon as possible since the cost of storing these vehicles is expensive.
Vehicles that are repossessed by banks tend to be top of the line. Many people who defaulted on their car loans were formerly earning large salaries and purchased big ticket vehicles they could no longer afford. At an auction, these vehicles can be bought for as much as 95% off their original market value.
Various government agencies, like the ATF, DEA, FBI, and IRS along with the police seize vehicles also. Many of these vehicles are new or almost new. The government and law enforcement agencies have as many as a few thousand seized vehicles, which are impossible to store long term. Used vehicles from government agencies are put up for auction as well. These cars are always kept in good shape and are usually inexpensive.
Buyers who participate in online government auctions can select from vehicles that are available around the country. Whether buying a car at a live or online auction, many people will get a Car Fax report, a service not often provided by car dealers. A three month warranty is also supplied with most vehicles.
Car auctions where people can buy cheap cars are held regularly. They are easy to locate and you can find many types of vehicles at ridiculously low prices.