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Consider A Vehicle Auction For Your Next Car Purchase
In tight economic times, people look to squeeze money out of every purchase. . . that includes buying their cars in a non-traditional place -- a LIVE vehicle auction. Obviously, if you've never attended an auction, you'll have plenty of questions as to how you can benefit . . . and not get scammed.
Here are the top Frequently Asked Questions (FAQs) about vehicle auctions in the U.S. & Canada:
Here are the top Frequently Asked Questions (FAQs) about vehicle auctions in the U.S. & Canada:
#1 | What Is A Vehicle Auction?
A vehicle auction is a type of auction that specializes in selling all types of vehicles such as cars, trucks, SUVs, and even motorcycles. These are LIVE events where you attend the auction in-person.
#2 | Where Are Auto Auctions Held?
Auto auctions are being held all across the United States and Canada everyday.
Auctions may be held at any number of places: privately sponsored car auction houses as well as county sheriff departments, police departments, federal law enforcement agencies and government authorized auction houses that represent the IRS, U.S. Bankruptcy Court, State Tax Department and Customs and Border Protection, to name a few.
Schedules of auctions are posted and announced on websites, brochures, newspaper listings, and agency offices.
Auctions may be held at any number of places: privately sponsored car auction houses as well as county sheriff departments, police departments, federal law enforcement agencies and government authorized auction houses that represent the IRS, U.S. Bankruptcy Court, State Tax Department and Customs and Border Protection, to name a few.
Schedules of auctions are posted and announced on websites, brochures, newspaper listings, and agency offices.
#3 | Are Vehicles Really Selling For Up To 90% Off?
Or, is it really true that you can find cars, trucks, SUVs and motorcycles up to 90% off their current market value?
Short Answer: Yes, it's possible.
Buying a vehicle 90% off its market value sounds unbelievable but it is actually true. Bear in mind, auto auctions are a very volatile marketplaces and the price depends on the willingness of the bidders to buy a vehicle for a certain price. For example, if you're the only person interested in a certain vehicle, you can buy a car at the cheapest price. However, bear in mind that competition can drive the price of the car higher than its current market value.
Buying a vehicle 90% off its market value sounds unbelievable but it is actually true. Bear in mind, auto auctions are a very volatile marketplaces and the price depends on the willingness of the bidders to buy a vehicle for a certain price. For example, if you're the only person interested in a certain vehicle, you can buy a car at the cheapest price. However, bear in mind that competition can drive the price of the car higher than its current market value.
#4 | Will I Be Able To Test-Drive The Vehicles?
During the auction preview, potential buyers are allowed to inspect the condition of the vehicles but are not allowed to test drive the vehicles.
However, bidders are allowed to check the condition of the engine, heater, air conditioning, and other accessories while the engine is running.
However, bidders are allowed to check the condition of the engine, heater, air conditioning, and other accessories while the engine is running.
#5 | Do The Auction Vehicles Have Warranties?
Most auto auctions do not provide "in-house" warranty; however, if it is applicable, the manufacturer's warranty is transferable.
#6 | How Can I Pay For MY Vehicle?
The following are the most common forms of payment: credit card, cash, credit union cashier's check, cashier's check, and traveler's check. However, you should consult with the auction house and ask for the accepted modes of payment.
#7 | Can I Back Out of the Sale After I've Won the Vehicle?
When you win a vehicle, you are legally and contractually bound to pay at a specified period of time. If you fail to pay for the car, you will be obliged to pay additional fees and penalties stated on the conditions of sale.
#8 | What Happens If I Get A "Lemon" At A Car Auction?
It's unfortunate, but if you should happen to get a lemon at a car auction, there's really not much you can do about it. Once you make a bid and it is accepted, the car is yours "As-Is."
You can only protest when the claims made either by the seller or the car auction auctioneer do not meet the specifications of the vehicle. This would be an extreme case in which a model or make is described, only to find out that the claims were not true. Most cars are driven into the arena for the buyers to see that it runs, but once bought and the car does not start, you are stuck with it.
You can only protest when the claims made either by the seller or the car auction auctioneer do not meet the specifications of the vehicle. This would be an extreme case in which a model or make is described, only to find out that the claims were not true. Most cars are driven into the arena for the buyers to see that it runs, but once bought and the car does not start, you are stuck with it.
#9 | Is Buying From A Government Car Auction A Smart Move?
If you're looking for a great deal when it comes to getting the vehicle of your dreams, a government car auction is definitely the place to go. With tens of thousands of cars going up for auction every month, government auctions give you an opportunity to be really picky, and still get a great car at an even better price.
#10 | Where Can I Get A Complete, Up-To-Date List of Government Car Auctions?
If you have the time and energy, you can definitely compile a list of government car auctions by doing some research on the internet or going through newspaper listings and contacting local government agencies.
But, as previously stated, there are county sheriff departments, police departments, federal law enforcement agencies and government authorized auction houses that host government auto auctions many times throughout the year. So "Complete, Up-to-date List" is the operative phrase. You want to make sure you plug into a comprehensive (and current) source of information.
But, as previously stated, there are county sheriff departments, police departments, federal law enforcement agencies and government authorized auction houses that host government auto auctions many times throughout the year. So "Complete, Up-to-date List" is the operative phrase. You want to make sure you plug into a comprehensive (and current) source of information.
>>> Government Car Auctions | Government Seized Vehicles . . . Some for As Low As $100 - $500!
Top Sources for Government Car Auction Listings
For your convenience, here are a couple of quick links that will help you save a ton of time (and save you from making some costly mistakes, if you're new to auto auctions) . . . Who knows there can be a government car auction going on right near you . . . tommorrow or next week!
- GovAutoAuctions.org
- You can't go wrong by tapping into this government auto auction source . . . includes police sponsored auction as well as government seized vehicles . . .
- GovAuctionsUSA.org
- The oldest and most comprehensive online source of LIVE, in-person government auctions including seized cars of all makes and models. Access to auction listings inthe U. S. and Canada.
- Smart Tips on Buying at Government Auctions
- AutoAuctionSmart.com offers smart tips on bidding and buying successfully at auto auctions . . .
Reader Feedback
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- Apr 25, 2009 @ 6:26 am
- Lots of good useful advice. Well done on a nice lens.
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- motobidia motobidia Apr 6, 2009 @ 12:10 pm
- Very interesting and informative lens! I've rated your lens and featured it on our All About 'em Car Auctions group. All the best! Motobidia.com - your ticket to the car dealer auctions!
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