Seized Car Police Auctions

"I'm going to get a hot car for dirt cheap!"

That's what we all want, right? I'm sure it's no surprise that the reality isn't quite so simple. A seized car police auction is, after all, a public auction just like any other and bidding can get out of control with a crowd full of novice and unprepared buyers. Police auctions often charge a 5% to 10% buyers premium as well so you've got to figure that into your total cost of the car.

Opening bids usually are dirt cheap, but most cars quickly make near, or above, market value. The key strategy is to do your research before the auction starts and check online sources like AutoTrader.com and eBay Motors to see what similar cars are selling for. Decide on a maximum bid before the auction and stick to it. There's no point in paying retail market value for a car at auction.

Be prepared to bid on and lose a lot of cars. Don't ever focus on any one car as a "must have" situation. Be ready to move on to the next one.

You should know that often at seized car police auctions, the cars may have been sitting in an outdoor lot, unmaintained, for several months. You've got to figure some maintenance issues most of the time and plan your bids accordingly.

Another area of concern at police auctions is with the title of the vehicle. Believe it or not, the police are not required to sort out the title of the car before they sell it! It's "Let the buyer beware" so you'd better be ready to run a vehicle check with AutoCheck or a similar service for every car you're considering. Let the cars with dodgy title problems become someone else's headache.

So, it's always about the money, eh?

The way I look at it, you never want to pay more than "trade-in value" for a car. That's the typical amount a car dealer would give a customer for the car they're trading in on their new purchase. It's typically $2,000 to $4,000 below what they would sell it for on their used car lot if they decide to keep it.

Do your research and know where the market is and while you may not get a hot cat dirt cheap, you will be able to get a good car at below market value. Again, don't be shy about walking away from any deal where the bidding goes beyond your pre-set limit. Let someone else get the bad deals, no matter how much you like a particular car. They'll always be more cars tomorrow.

If you decide you're up to the challenge, here's where you can find Seized Car Police Auctions in your area.