What’s In Store For You When You Go To Government Car Auctions?
There are both, open as well as hidden facts about government car auctions. The hidden part is so the information can be sold. Normally these auctions are ‘live’ and take place all over the country in various locations. These types of auctions used to be available only to car dealers, but now if you have access to the dates and times, you can attend these auctions yourself. But it’s not as simple as just hopping in the car and getting there. There are a few guidelines that will help you to have a more successful experience.
Finding the closest one to you is the first thing to do. And you need to understand that every auction house comes with its own set of rules and guidelines for bidding. So don’t jump in without picking up a working knowledge of how they do their business. Once you are comfortable with how much you understand about their process, that’s when you can be comfortable with bidding on the cars you like.
Items sold at government sales come from many different avenues. Most of the time these cars are seized from local drug deal raids. Some are donated through defaulted loans. Other times it is due to the inability to pay Uncle Sam. No matter how they were obtained it’s your gold mine.
Again knowledge is power. Researching an auction house will give you that power and let you use it for good. Knowing where items were is a big part of that. A majority of free government auctions are legitimate but you get some that are shady. They will try to sell cars that are new on the outside but broken on the inside. So knowing car histories will allow you to avoid the bad apples.
If you know a good mechanic and can get them to go with you, then you are ahead of the game. In most government car auctions the vehicles sold are not from fleets used by the government, but from regular everyday civilians. When you find the good government car auctions, they’ll let you come and inspect their inventory before the auction takes place. This way, you’ll know which ones interest you and about how much you would bid on them. But when they go ‘as is’ a red flag should go up, and you should shy away from these types of government car auctions.
The last bit of information is this. Auction houses need to make money too and some will charge a fee higher than others. A majority of the time this is added in after you have won the bid. Find out about this fee beforehand so you can adjust for it in your bid.
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