Saturday, June 1, 2013

Government Repossessed Car Auctions Pre-Bidding Tips

Government Repossessed Car Auctions

Almost every day new cars will arrive at the auction houses of government repossessed car auctions. The huge number of vehicles for you to choose from can be relatively overwhelming. Some warehouses are almost as big as a football field; so, you can just imagine the quite extensive options that you have. 

If you are planning to buy one of the government seized cars that are up for grabs at amazingly low minimum bid prices, then you need to visit the auction house first a few days prior to the scheduled bidding date in order to have ample time to shop around for the best vehicle that matches your needs and your budget.

Unless you are in a hurry, it is advisable not to place a bid on your first visit to the warehouse. It is best to familiarize yourself first. Get to know the bidding process, the requirements needed, the steps in placing a bid, and the people around. You can also get valuable tips from veteran auction buyers that frequently hang out in these places. Some of them are used auto dealers hunting for great bargains.

Nonetheless, it is important to know some buying tips so that come bidding time you are less stressful and a bit more confident to win the car of your dreams.

Car Buying Tips at Government Repossessed Auto Auctions

Automobiles on public sale at auction houses are mostly repossessed vehicles by banks and by lending institutions; some of them are government automobiles. If you prefer to own one of the government vehicles, it helps to know where these cars came from. They are usually from different government agencies listed as follows:

o   State Government

o   Federal Government

o   Religious Groups

o   Non-profit Organizations

o   Local Councils Organizations

o   Fire and Emergency Services

o   Hospitals and Ambulance Services

o   Universities and Various Educational Institutions

o   Police, Sheriff, and Marshall's Departments

If you want to know the previous owner of the vehicle, seek assistance from a consultant for more details about the car. Sometimes the information can be found in the log book or in the inspection report.

·    Ask for the exact bidding time of the car that you want. At every auction day, there are tens to hundreds of cars scheduled for action. Some are scheduled in the morning while others are in the afternoon. Each car will be auctioned separately. So you have to be there when it’s time for the vehicle of your choice for bidding.

·    A lot of pre-owned government automobiles are still two to three years old. Some of them are even within the transferrable warranty period with about 25,000 to 35,000 mileage. Go for these units if possible since they will give you the best bargain.

·   Different auction houses have unique registration and bidding procedures. Ask for the bidding guide leaflet or brochure, which is usually distributed for free. If you are planning to bid on a particular day, you must also register first. 

Hopefully the above tips will help you go through the bidding process more relaxed. Enjoy the bidding at government repossessed car auctions. Remember, it might be the day that you will finally realize your dream to drive a BMW similar to the one used by James Bond.

Photo Credit: West Midlands Police via Compfight cc

1 comment:

  1. If the buyer can't or does not want to make any more payments or pay it off, the lending institution will take the vehicle over and will then sell it to recover all or some of the balance on the auctions