How Does A Live Government Auction Work?

In practice, a ‘traditional’ live government auction is not complicated at all. Once you become a member at usedonlinecars.com, we’ll provide you with all the necessary information to find your local repossessed automobile auction. Then it’s simply a case of turning up in the morning to inspect the cars on offer, picking out a bargain, and then placing the winning bid at the auction for that car later in the day. Now given that these auctions really are publicized very little and also that the database at usedonlinecars.com is so comprehensive that it offers a multitude of different monthly auctions in each region, it’s not uncommon that there are almost no other bidders at the auction, meaning these cars go for a fraction of their real value. Many of the lots on offer begin at prices as low as $100 and in cases, they never go any higher. Most auction houses also offer an ‘inspection day’ a few days prior to the event to allow potential buyers to preview the items on sale and make a selection. This can be a really helpful process as it allows you to work out just how much you’d be willing to spend on an individual lot at auction. In addition, the comprehensive step-by-step guides offered by the team at usedonlinecars.com (which become immediately available upon signing on with the site) will give you expert advice on making the right selection at auction.

So let’s take a new member signing on in New York for example. Immediately this new member will be able to see that, as of this moment in time, there are 114 live auctions taking place within the state over the next few days and also has over 100 online auctions going live over a similar period of time. These online auctions are becoming increasingly popular despite the difficulty people often have in finding them through browsing. One of the greatest assets of becoming a member of usedonlinecars.com is that the professional research team working with the company are constantly compiling resources and links that will make it quick and easy for you to find your most appropriate online auction.

Additionally, unlike the experiences many people have of purchasing their cars from a dealership, there are no hidden or extra costs when you buy through a live government auction. Standard and obligatory fees such as the deed and registration change costs still apply but these are exactly the same as those that you’d encounter if buying through a private transaction or through a dealership.

If you’re a successful bidder at auction, and let’s keep our fingers crossed that you are, you’ll be required to make a small deposit to the auction commissioners on the day. Then you can simply pay the rest of the balance owed using your preferred financial scheme e.g. by check, cash or wire transfer. And whoosh! It’s done, and by the same afternoon you could be driving home in a car that cost you just 5% of its face value, all thanks to a few bucks spent on membership at usedonlinecars.com.