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Credit Pacific Service Union Are these claims true? Government car auctions. Repossessed cars and trucks. Surplus vehicles. Sounds like a terrific way to get a bargain car. How does it work? Are these real deals? Is there a catch?

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Credit First Service Union Government car auctions - In a nutshell
In short, various federal, state, and local government and law enforcement agencies regularly seize the possessions, including autos, of bad people and auction them off. Or they buy new service vehicles and auction off the old ones.These are collectively known as "government auctions."

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Card Credit Mobile Service Banks and lending institutions also repossess property and automobiles from non-paying customers, and sell the goods through auctions.

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Card Credit Discover Service These auctions are real. They take place almost every day in various parts of the country. In most cases, anyone can attend and participate. And it is possible to find good deals.

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Credit Public Service Union Government car auctions - How they work
Government seized-property or surplus auctions are held all over the country at various locations and on various schedules. Typically an auction is held at a particular location on a regular basis - usually monthly or quarterly. Local and national newspapers often have listings and details. Usually these are more than just car auctions. All kinds of property are included.

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Card Credit Processing Service Obviously, these government agencies and lending institutions are hoping to get as much money as possible for their goods. But bargains can be had. Otherwise, the auctions wouldn't be as popular as they are and no one would participate.

Center Credit Service Union Do your homework
You should always do your homework before you start bidding for automobiles at car auctions. Know what vehicle you want, know its value (use Edmunds.com), and knows its history (get a CarFax report using the car's VIN number).

Card Credit Service Wireless You should be able to get Vehicle Identification Numbers (VIN) and mileage information from the auction administrators. Further, it's a good idea to have the vehicle(s) inspected by a mechanic, or do it yourself.

Credit Security Service Union Many auctions have a preview period of about two days preceding the auction in which you can look over and inspect the vehicles. However, in most cases, you will not be able to drive the vehicle. And there are no warranties or guarantees, which is no different than most other used-car sales.

Credit Report Service What's the catch?
As we've already mentioned, there are always some risks in buying at government or repo car auctions. However, you can significantly lower your risks by knowing what you're doing, knowing about the car(s) you want, researching your pricing, and understanding how the process works.

Blogspot Com Christian If there's a "catch" to government car auctions, it's that there's competition in the bidding. If the car you want is popular and in great condition, you can expect other people, including used-car dealers in many cases, to be just as interested in it as you are. Competition and heavy bidding will drive auction prices up - sometimes beyond the real value of the vehicle. Don't get caught up in the frenzy and overpay. The best bargains are usually on the older less-than-perfect vehicles.

Christian Counseling Credit Winning and losing
You must be willing to bid and lose in any kind of auction. You must also be willing to bid and win, and be prepared to pay or finance within the required time set by the auction company. You can apply for a pre-approved used-car loan at your bank or credit union.

Credit Federal Service Union You can also lease your auction car through the services of LeaseCompare. Just give them the information about the car and they'll tell you what it'll cost you to lease it from one of their lease sources.

Credit Monitoring Service How do I find government car auctions?
You have essentially two ways to get started locating auctions for your bargain car search. Keep in mind that car auctions of all types and sizes are held all over the country virtually every day. Be aware that any information you find may be subject to error or change. Try to verify your auction information before you visit.

Credit Division Service The first way to find government or repo auctions is to do all the legwork yourself. Contact your local federal, state, and local government agencies to determine if they have auctions, where they are, and on what schedule. Contact banks and financial institutions for their auctions, if they have them. Contact auction companies who handle auctions for banks and other clients.

Card Credit Online Service Some government auctions are regularly announced in national newspapers (such as USA Today) or local newspapers as part of the legal requirements for conducting the auction. These ads usually regularly appear on a particular day of the week or month. Many government auctions and sales, both federal and state, are listed on the FirstGov.gov web site, run by the U.S. government.

Consumer Counseling Credit Inc The second way of finding government car auctions is through an online auction directory service that does the legwork for you - for a fee. Fees charged for these services vary, and average about $40. Be sure to look for a money-back guarantee. An example of such a company providing this type of service is CarAuctionSources.com . There are also other companies that offer similar services.

Card Credit Fleet Service These services provide directories of auctions all over the U.S., listing locations, descriptions of goods sold, schedules, and other details.

Card Consolidation Credit What to expect
Don't expect a full list of specific vehicles, descriptions, and prices for each auction because this information changes daily- although some services provide more detail than others.

Credit Free Online Report Be aware that the claims these services make to get your attention are typically more than a little exaggerated. Read their offers carefully to understand exactly what they provide.

Credit Federal First Service Be careful in selecting a service
Look for companies that provide a money-back guarantee in case you are not fully satisfied with their service for any reason. If you choose to go this route, examine and compare a number of services before you choose one. They are not all the same, although they tend to list the same auctions.

Consumer Credit Service Do not pay extra for "premium" services. This is an extra cost that brings no benefits.

Center Credit Family Service One more thing
If you don't plan on taking a mechanic around with you to government car auctions, or any car auction, to inspect vehicles, here is an excellent ebook, Inspect Before You Buy, on how to perform the services yourself, with checklists and details of exactly what to look for - and how to do it. It's written by an experienced ASE certified mechanic, Jerry Ellingson. Click here to get it!

Credit Reporting Service Car Auction

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