Posts Tagged ‘Auctions’

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Curious If Great Deals On Vehicles Really Exist At Government Auctions? The Truth May Surprise You!

It is true that auctions can be an excellent source for new and used vehicles at low prices. It is also true finding these deals can be difficult and most government agencies do their best to receive fair market value for these vehicles.

There are three main government agencies that deal with vehicle auctions. These agencies are the treasury department, the US marshal service and the general service administration (GSA). The GSA predominantly sells vehicles that have been used by the park service and the post office. These vehicles have high mileage but most are in great shape because maintenance was conducted like clockwork by the government.

The best chance of finding new vehicles at auctions is through the treasury department and the US marshal service. The treasury department will often receive vehicles that have been repossessed due to back taxes. The best chance of finding brand new sports cars is through the US marshal service. The US marshal service seizes cars from drug raids.

Police auctions are another great source for seized vehicles. When attending a police auction you must bring a photo id. You must always keep your assigned number with you when bidding and you should always carefully read the rules of the auction. You never want to lose a bid because you did not follow a simple rule.

Always be mindful of the condition of the vehicles. Some of the vehicles at police auctions have been sitting at an impound lot for years before finally going to auction. A good rule of thumb to keep in mind is never pay more than the blue book trade in value. The trade in value is typically 00 to 00 below market value.

Never ignore the fine print at government auctions. Experts in this field know how to spot a good deal and they also know how to maneuver through all the government red tape. When you purchase a vehicle from a government auction be sure to fill out Form SF97. Form SF97 is a certificate to obtain title. This must be filled out in order to register your vehicle after purchase.

All liens or any other encumbrances on the title are cleared by the government agency unless otherwise stated. It is important to ask and find out what the government agencies title policy is when attending the auction.

One strategy that will help you obtain good vehicles at low prices is to focus on cars that have body problems but have great engines. Some of the vehicles sold through the GSA have body problems but the engines are in great shape. Not as many people are interested in these vehicles.

One car dealer I know of would buy filthy cars at car auctions and then simply take them to the car wash. Once they were clean he would be able to sell them for 0 to 00 more. Never underestimate the power emotions play in a bidding war.

Many people claim that no deals exist at these auctions because all of the big car dealers attend these auctions. Many think how could I possibly compete against these big boys. Well the truth is that these dealers need to buy low and sell high to make a profit.

Do not let these car dealers intimidate you. They are looking to make a profit and you are looking to find a good deal on a vehicle for yourself. You can still get a vehicle at these auctions below market price even if you are bidding against dealers. Remember you have the advantage against the dealers.

Before buying any vehicle at auctions you must do proper research. Before going to any government auction bring cash and predetermine how much money you are willing to spend and what type of vehicles you want to focus on. A spending cap is critical. There is nothing worse than getting caught in a heated bidding war and paying more than you planned.

At any government auction you should always inquire about the buyers premium. This is the additional amount you will need to pay once you have won the vehicle. The buyers premium is typically five to ten percent of the purchase price. You should incorporate this into your maximum allowable bid.

When purchasing vehicles from the government you are buying them in as is condition. When possible inspect the vehicle yourself. Inspection times can vary from one hour to two days. Many government auctions have a preview date before the auction where you can ask questions and inspect vehicles. When possible you should run a Carfax vehicle history report.

When doing research on the web regarding government auctions never buy anything that claims to have the secret ways of getting great deals at government auctions. You can find this information anywhere on the net. Only deal with websites that give you valuable information regarding where auctions take place in your area. These websites can save you a lot of time and give you immediate access to auction locations.

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Things To Remember With Online Car Auctions

Turning to online car auctions can give you the opportunity to find the vehicle you want at a relatively low price. Some of these auctions will have vehicles that are being offered through individual sellers and others will have government vehicles which are being auctioned off after they have been replaced with newer models. In either case, you will have the opportunity of finding a vehicle which has an outstanding chance of being the car which you are going to use for a long time into the future. You simply need to know what the rules of online auctions are.

Rule one: do not bid on more than you can afford. Bidding on more than one vehicle at a time can result in multiple purchases. Bids cannot be retracted once placed unless you can prove the bid was a mistake, guilty before proven innocent. Someone else might not want what you want; make sure before you bid you really desire it. Bid on one item at a time.

There are many people out there not completely honest. That said not all cars on an online auto auction are unworthy. Even though each car has a detailed description of it included there may be missing information needed to make a good decision. Things that could lead you to choosing a car that can fall apart and cost you more in the long run. Although not normal practice this can be a concern. More information can result in more informed choice.

One should take in to consideration that an online auction might not be local. Although the vehicle may be a great deal, you will have to add costs to get it. After this it may not be worth the bid. So make sure you read the information and pay close attention to where the car is. When placing your bid figure out what you want to spend and put out the costs of getting there to pick it up.

Finally, pay attention to the state of the car itself. The more miles the car has on it, the less valuable it will be. Government cars are some of the most popular during online car auctions, as they will have had the best maintenance and the lowest miles on them. While you can find other types of used cars without many problems, understand their history and how likely they are to operate well for you. That should give you a better chance of finding a good deal on a used car and could inspire you to make a winning bid. The better the car is that you win, the longer it will last and the more reliable it will be far into the future.

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