Government Auto Auctions - Can Mean Big Savings
When financial institutions, law enforcement and US government agencies seize or need to sell thousands of vehicles; the general public can benefit. Through government auto auctions, many people have found fantastic deals on cars; often up to 95% off. However, for as great as this may sound, there are some pros and cons to buying vehicles this way. Therefore, if you are considering a government auto auction , be sure to do your homework. Below are some reasons you might want to consider buying your next vehicle from an auto auction.
Price
The affordable price is a definite plus. Bidding usually starts at around $100.00, and you could end up with a decent vehicle for a fraction of what you would pay in the retail market. You might even find your dream car at one of these auctions. For this reason alone, you probably should attend government auto auction just to check out the possibilities.
Ample Selection
The inventory available at these auctions is huge. You can find the vehicles on the auctioneer's website as well at the actual auction site. The vehicles consist of seized cars, trucks, Suvs and vans. Many of them are 2-3 years old with low mileage.
Government Auto Auctions for Your Next Car? Go here for auction site reviews.
Maintenance
The vast majority vehicles are maintained and in good condition. Because many of the vehicles are only years old, they are still under a manufacturer's warranty.
Vehicle History
The auto auction will provide a Car Fax VIN report, and you'll also get the vehicle's history report; which will show maintenance and repair information.
Watch Out for These
While buying from a car auction can get you a better vehicle at a much lower price, there are some consequences like the following:
Vehicle Inspection
First, everyone knows not to buy a used vehicle without having it thoroughly inspected. However, some government auto auctions do not allow you to inspect the vehicle you want to buy. In this case you may need to find an auction house that will allow you to do this.
Bidding
Bidding on these cars usually start at $100; but because others will be bidding on the same vehicle, you may end up paying more than the car is worth. Of course, this depends on how much you want the vehicle. On the other hand, many people have gotten a $20,000 car for less than half of that amount.
Time Consuming
Not all government auto auctions have online bidding. They operate out of a physical location and may require you to travel some distance to participate in the auction. In the end, it could take some legwork to find that deal.
Lack of Warranty
This makes inspecting the vehicle all the more important, because it is sold "as is". Placing a bid and having that bid accepted, is a binding contract; there is no refund. Most auction houses do not give warranties on their vehicles.
So, the next question is where do you go to find out more about government auto auctions? Fortunately, there are websites that provide detailed information on all the vehicle auctions in the US. If you are in the hunt for your next vehicle, you have nothing to lose by inquiring.
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