Repossessed and government car auctions

Repo Cars Insider Tips: Why Online Repossessed Car Auctions Are No Good

Repo cars can be a fantastic opportunity for the average guy to purchase a used vehicle in great conditions for pennies on the dollar. No questions about it. However, you need not to be hasty nor lazy when bidding on repo cars.

One thing NOT to do is attending repo car auctions. Not that there's anything wrong with some repossessed auctions. Marketplaces like ebay motors are indeed very good. Nonetheless, there's one thing missing from all of them: the bidder can never check the repo cars he's about to purchase in person. Sure, you can still check a seller's reputation and a repo car's history report but...well, the picture ain't the same as the actual bride, you know?

Therefore, if you're thinking about buying repo cars for sale, don't forget to attend an offline repossessed car auction.

Repossessed car auctions numbers up?

After a couple of months with lower number of searches online, the amount of people in the US searching for repossessed cars for sale is back on the rise. In fact, it seems to be near its all time peek, according to google news: http://www.release-news.com/index.php/automotive/7767-searches-for-repossessed-cars-on-sale-up-164-as-public-car-auctions-become-more-popular.html

It seems newcomers to the repossessed car auction world have spread the news, and these marketplaces are going mainstream. For how long? Nobody knows, but I personally do not believe bank repossessed cars for sale will be going anywhere any time soon. At least, not before the current crisis does.

Government car auction tip: how to purchase at a used car auction safely

Buying used cars at a government car auction is quite easy, but you do need to take some precautions. One of them is to always check the government car's history, in order not to deal with surprises down the line. Many government car auctions provide bidders with the VIN numbers for the vehicles and even a history report as well. If the one you're at doesn't, just ask for it.

This tip alone can save you thousands of dollars the next time you're at a government car auction.

Repossessed car auction advice

Those who are new to repossessed car auctions always miss an important part of the process: checking out other attendants to the repo auction FIRST. As you may be already well aware of, it is always extremely important to know your competition when bidding on repossessed cars, in order to guess how far they're willing to go, what strategies (if any) they might be using, etc.

In order to do that, just attend a few repossessed car auctions beforehand. You'll most probably find car dealers from your area (or perhaps even from another state), individuals with different degrees of expertise, bank representatives, etc. Repossessed car auctions are a great place to be at, but be careful to do your homework before attending them.

Buying repossessed cars for sale

If you are about to bid on repossessed cars for sale at a public auction, there are a few things you should take into account in order not to miss on some profits or end up losing money. As I mentioned on another post, repossessed car auctions are still great, safe places to purchase a cheap used car at, but it's always good to be careful.

My tip this time involves a little work: you should always check in person the condition of the repossessed car you're about to bid on. Never skip this step at risk of losing some serious money or having a lot of truble down the line. If you don't know that much about this stuff, that's ok too: just bring along someone you trust who does.

Remember: It's always better to be safe than sorrow when buying repossessed cars for sale or any other used car for that matter.

Repossessed cars for sale tip: Never settle on the first auction

Repossessed cars for sale are not for the faint hearted. They're not for those in a hurry, either. Whenever you're at after a repossessed car, you need to know exactly how to move around the repo auction, what the average top bid may be for the repossessed car you're after and how to check if the vehicle is indeed in good conditions. All this is almost impossible to do if you've only been to 1 repossessed car auction in your entire life.

Therefore, my tip is: Attend a number of repo auctions in advance. Only then, select your favorite repossessed cars for sale and go after them.

Government car auctions insider info

Government car auctions are one of the most misunderstood or even ignored resources when it comes to buying a used car. Most people either think a government auction is something whose rules are difficult to grasp, or their dynamics are just plain shady. Nothing further from the truth.

 

In fact, it's quite the opposite. Government car auctions are extremely well regulated marketplaces, where there is very little room left for surprises. Actually, most people who've already bought at or at least attended a government auto auction find this kind of environment much safer than purchasing a used car from his/her owner, as done traditionally.

Just for those who don't know it yet, any car is allowed to be sold at a government car auctions as long as it has been originally bought under a government contract of some sort, either State or Federal (that is within the United States, at least).

On my next posts, I'll dig deeper into the world of government car auctions and repossessed cars for sale, and give you insider tips on both.