Save Money Buying From Government Seized Car Auctions
Did you know everyday government agencies seize cars when arresting drug dealers, thieves and various other crime busts? It’s true; they confiscate all types of property from these law breakers to pay for their illegal activities all across the country. However these government agencies are now over whelmed with storing vehicles that can create a hefty cost for the agency and us as law abiding citizens. Just like banks, don’t want to foreclose on your home and keep it because of the costs involved they want to get rid of it. When the governments seize cars they want to rid themselves and/or eliminate the cost of storing them completely.
Another reason government seized cars are put up for auction is they decrease in value as time goes by (as with all cars). It is commonly known fact that the value of a car decreases rapidly with time even if it is not being driven.
The best thing for us “the general public” is that the Government agencies have a more pressing need to get rid of these vehicles more than they have to make a profit. That is the perfect recipe for saving us the buyers tons of money. It is reported that at these government seize car auctions people win bidding on cars saving 30% to even 90% off the retail value. Wow, that is a big savings.
Typically in every state Government seized car auctions are open for the public every week. Depending on where you live you can find them sometimes listed in the local newspaper or see a auction site with a data base for all government seized car auctions in your area and all through-out the country. I have used many and know the best one that keeps their data updated frequently. There are many kinds of price ranges when it comes to these car auctions. Depending on the inventory for that day you could bid on and purchase cars from $500 to $10,000 or more.
In attempt to not over hype the government seized car auctions. It is probably (though anything is possible) not realistic to think you are just going to attend an auction, pick the car you want, bid on it and bang walk away with the keys to your dream car for a few hundred dollars. However if you do your research, learn about car auctions and how they work, stay with-in your budget when bidding, know how to inspect the car your interested in and willing to be patience (i.e. it may take attending more than one auction to get your dream car) it becomes very possible to purchase the car you want with major savings you can not get from a dealer.
Keep in mind the cars at government seized auctions are the perfect recipe for finding that diamond in the rough. Government agencies have a greater need to rid themselves of the expense of keeping the cars more than they want to make a profit. The opportunities are endless but you must do some homework. The more you educate yourself the better. It?s not rocket science but it definitely is to your interest to get familiar with these auctions before going off on a whim with high hopes. Research this subject on the internet, attend an auction or two before you buy and you will have a much better chance at being successful at it before losing any high hopes. It doesn?t take much more work than shopping for a new or used car from a car dealership. Most importantly have a good time shopping the auctions, maybe take a friend with you and enjoy the experience together.
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This entry was posted on Wednesday, August 13th, 2008 at 9:26 am and is filed under Auto Insurance News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.