Car Auctions are not for everyone but there are all types of car auctions out there and sometimes you can really get a hold of some great deals, you just need to shop around and you’ll find what you are looking for.
The government car auctions are probably one of the best ways to find an incredible deal on a car. The government and law enforcement agencies whether they are local or state and even federal have a large amount of property from seizures. On top of that they also have an amazing amount of surplus that they have on hand and they are always holding auctions because they do not have the space and they do not have the budget to have employees maintain the items.
You can check with your local law enforcement agency to find out where and when they are holding their next auction or you can also check online with the FBI, DEA, IRS as well as our Border Patrol and homeland security departments. They are always having regular auctions due to seized and repossessed vehicles. Another good place to check is with the banks who will sell off their property in public auctions as well.
The public auctions that are held by your local law enforcement agency as well as the state are usually thought to be where you can find the best prices because they would rather get rid of the car and make some money then have to deal with the expense of keeping it in storage.
The maintenance cost drains the budget for these agencies where the money can be used in more practical ways. Their motive is to make money and save money at the same time and they don’t want to be spending it on storage costs for these seized and repossessed vehicles.
When you are at these auctions there is usually a minimum bid that is placed on the vehicle but they are normally very low. Banks however will normally have auctions where the prices are a lot closer to the actual market value of the vehicles they are auctioning off. The banks goal is to pay off a balance due to the non payment of the actual loan of the car.
Auto auctions are normally held either monthly, quarterly, bi-annually and even yearly. You can check online or in your local newspaper for the date and times of these auctions. If you don’t see any scheduled dates there just give them a call and they will be happy to supply you with the information of their next scheduled auction.
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