If you have come to visit us at this site, you are probably one of the few smart people who realize that they can get really good used cars at a bargain basement price by looking for repossessed cars for sale. Another great source of cheap cars for sale is government car auctions, where the government sells off its vehicles, many just two to three years old. One great advantage of buying a government car at auction is that all government bodies have to comply with health and safety regulations and all these vehicles are thoroughly checked and serviced regularly. I am just giving you some options here. The most important thing is that you can save up to 95% on market price by looking for a vehicle that has been repossessed, seized or is being sold off by the government. If can sometimes be hard to find out about these auctions because they are not widely advertised. Let’s face it the car dealerships don’t really want us to know about their best value sources, do they?
Whether you are in a tight spot financially, you want your dream car now and not in a couple of years when you have saved the ticket price or you are just a savvy shopper who knows that they can get what they want without paying dealer premiums, there is no doubt that you can save thousands of dollars if you find the right auctions in your area. If you are like me, when I decide I want or need a new car, I don’t like to wait around forever. I want to move quickly and have that shiny new (or at least new to me!) vehicle in my driveway as soon as possible. I used to spend ages online searching, checking the local newspapers and asking around to try to find the best places to buy at the best prices. Then I took up this FREE TRIAL that gave me a bunch of information and more importantly it gave me the confidence I needed to take the plunge and look at repossessed cars for sale at auctions. Buying this way really does save thousands of dollars. Now if I hear of anybody I know wanting to buy a new car, I tell them to look at this site before they do anything else.
Repossessed Cars for Sale:
5 Steps to Buying a Great Repossessed Car Saving Thousands of Dollars
The availability of a growing number of repossessed cars for sale can mean huge savings for car buyers if they know where to find them and how to go about making that purchase. Unlike other used cars, repossessed cars are available because the original buyer couldn’t afford to keep up finance payments or they have been seized because they were purchased from the proceeds of criminal activity or failure to pay taxes to the IRS. What this means for you is that repo cars are often in very good condition, with many late models available. They are not been sold by the owner because they have racked up a lot of mileage and need to trade up, for example. Some people are daunted by the thought of attending a repossessed car auction or a government auction, but this is where car dealers buy a lot of their stock for car lots. So why not take advantage of the savings you can make on repossessed cars for sale, by going directly to the source. I will outline 5 simple steps that will help you get a great car at a really good price.
1) Find out about all the repossessed car auctions and government surplus auctions in your area. These will often be advertised in the legal notices section of your local newspaper. Unfortunately they are not widely advertised but there are services that provide comprehensive local and national listings. They can cost a few bucks to join but this is worth it if you are serious about make some great savings.
2) Once you have a list of the auctions, get a list of the vehicles available at the auction you are planning to attend.
- Select the vehicles that you are interested in and make a shortlist which includes the vehicle details and VIN.
- It can be helpful to do a background check on vehicles that interest you, to ensure that they have not been totaled, flooded etc.
- Make sure that you are familiar with the market value of the vehicles you are considering. You can do this by looking at cars for sale lists or better again, by checking the Kelley Blue Book. If you have the Kelley Blue Book I would recommend bringing it to the auction with you. You will often find second hand versions of the book available on Amazon for a few dollars.
3) Check what identification or documentation you will need to bring with you to the auction. This usually includes your driver’s license and some proof of available finance. I would also advise you to bring along a small torch and some tissues or an old cloth. Don’t worry I am about to explain why!
4) Prior to the auction itself, make sure that you inspect the repossessed cars for sale, that you are interested in bidding on. If know a mechanic, it might be worthwhile bringing them along with you but this is not essential. There are a number of checks you can do, to ensure that the car is good.
- Firstly, do a visual inspection of the vehicle including paintwork and the interior. Look for any signs of bubbling in the paint, mismatching colors, bumps, and scratches. Any signs of these may indicate the car has been in an accident. It may not be a cause for concern at all, but just be aware. With regard to the car’s interior, check for any sign of damp, mold or mildew. Again if you see or indeed smell any of these, it could be an indication that the car has been flooded. Exercise extreme caution with this as flooding can cause serious problems in a vehicle.
- Now it is time you sat in the driver’s seat and no I am not suggesting you check it out for size and comfort! Run the engine and listen for any unusual sounds. If it is running smoothly, it is a good sign but beware of any knocking sounds.
- Check both the oil and transmission fluids. You can dip both with the dipsticks that are available when you open the bonnet of the car. The oil should ideally be at a level above the minimum and should be reasonably clear and free of dirt. I wouldn’t be concerned if the level is low as long as the oil is clean, however if it is black it may indicate that the car has been poorly maintained. Again with the transmission fluid, just make sure that there is no burning smell and that it is clear.
5) When the bidding begins, indicate your bids clearly to the auctioneer. There is no need to be nervous about bidding, you either choose to bid or you don’t. Just remember your budget and stick to it. If you don’t get the car or vehicle you want to-day, there will be other auctions and just think of the satisfaction of getting a really good used car at an even better price! Having said that there are usually hundreds of vehicles at each auction.
This may sound like a lot to take in, but remember I am perhaps being overly cautious in my advice to you. If you break it down there really isn’t that much to it and the savings you can make will be worthwhile. Some auctions have reserves as low as $75. I am not going to tell you, that you will get the latest model BMW M6 for a $100 – it is not impossible but I am being realistic. Some report savings of up to 95% but I believe, again being realistic, that you can expect to easily save between 20% and 60% off market value. The government and financial institutions selling these repossessed cars want to sell them off immediately to recoup the money they are owed and to avoid storage costs etc. Remember the car dealers who are selling at market value on their lots are making a nice chunk of profit and they regularly attend these auctions.