Legit or Quit? Buying cars at US Government auctions ...

Some car buyers are saving up to 50% buying their vehicles from public auctions.

We?ll take a look at how this process works, what you need to know and provide you resources on getting started.

By: RJ Parker

It won?t take you long to look above this block of text and see the banner for gov-auctions.org. ?As we?ll explain in this article, they are the biggest and most reputable avenue for getting involved with buying vehicles at police and government auctions that we?ve found so far. ?If this is something you know you are interested in getting involved with, you can just click the banner or follow this link: and get started now.

Continue reading to get the TrueCarGuys take on buying cars at a government auction and find out the answers to any of the questions you may have.

The Skinny
While it definitely is true that you can score a great deal on a used vehicle by shopping at government auctions, the important thing is not to expect anything unrealistic. ?Essentially what you are doing is buying cars that local police or government agencies have taken from people as a result of their not paying something or having been indicted or convicted of a crime. ?This is not to say that all cars available in these auctions are vehicles repossessed from drug dealers, there are obviously a mix of vehicles available and they all have their own unique backstory. ?If you are the type of buyer that doesn?t like a lot of hassel or stress buying a car, you might want to click the ?Hire us today!? link at the top right of the page to get an auto consultant from TrueCarGuys to help you find a great deal at a local dealer or private party seller. ?Our clients don?t pay us for our service, the dealer that gets the referral pays us a small fee for helping them earn the sale. ?While some have reported having excellent results getting clean, low-mileage cars from government auctions, there are cases where thing can become difficult. ?We?ll touch on a few points to be aware of if buying at an action is still something you are considering.

What does it cost?
As with anything that sounds like a no-brainer, with buying auction vehicles, there is a common tendency for newcomers to look for the cracks in the mantle so to speak. ??What?s the catch? is the mantra of many auto buyers considering going the auction route for their next purchase. ?Our view is that so long as the buyer has realistic expectations, there is a potential for getting a great deal and justifying the time and effort spent getting involved with government auctions.

Why is this popular?
With the recent economic downturn in 2008, many car buyers have been looking for alternatives. ?That is why organizations like ourselves as well as many other alternatives have begun to take a larger presence in the automobile market. ?With many parts of the?industrialized?world all feeling a tightening of their belts, every last dollar counts more than ever and car buyers and car sellers are well aware of this new retail landscape.

What will you find?
Ok, please refer back to where I encouraged you to remain realistic in your expectations. ?This is not a Barrett-Auction scenario that you are used to seeing on Speed TV and other such 3-digit cable channels. ?Going to a government or police vehicle auction, you?re going to see all types of vehicles. ?You?ll see a fair amount of government-used and repurposed Crown Victorias, pickup trucks and vans. ?You?ll see vehicles that have been confiscated in other criminal cases. ?These will be primarily older, more worn out, budget pieces that may or may not have problems, warranties and cosmetic imperfections. ?Other vehicles will be fairly new and low-mileage. ?These are ones that have, for the most part, been repossessed by owners unable to make their recurring monthly payment on the vehicle.

What to watch out for.
The #1 thing to be aware of is cars without titles. ?There will definitely be some vehicles being sold that have no title information, and the only documentation you?ll receive is auction paperwork. ?This will, in many areas, be insufficient for the purpose of registering and insuring the vehicle. ?Some auction buyers have reported having to wait up to six months to have their auction-bought vehicle registered and road-worthy. ?Keep in mind, that?s an extreme case? perhaps even a worst case scenario. ?That being said, making sure you have a title when buying a vehicle is of utmost importance.

Drive first or not? ?This is especially relevant in local government and police auctions. ?While most vehicles are sold with extensive histories available as well as complete?maintenance?records, often times bidders do not have the option of driving the vehicle prior to entering bids. ?In some cases, there is an opportunity for registered bidders to walk a lot and view certain vehicles prior to their being put up on the auction block.

Payment and financing.
Many auto auctions are looking to sell their vehicles for money on the spot. ?This can be in the form of cash, personal or business check, credit or debit (in some cases) and even a bank check that may be the result of a prior auto-financing arrangement. ?If you are looking to make payments on a vehicle you intend to buy at action, we would advise your visiting your local banking institution to secure financing prior to visiting the auction. ?Typically, the bank will pre-qualify you for a certain amount?usually?up to a given limit. ?They will also usually help you understand other loan information such as monthly payment, any required down-payments and interest rate information. ?Most auctions will allow you to secure your winning bid, should you make one, with a deposit. ?Most auctions will actually require this if you are unable to pay in full right on the spot. ?Keep this in mind. ?If you are not paying in full and do intend to furnish a separate means of payment after placing a winning bid, be sure to have a minimum of 20% of your buying budget available via cash, check or debit/credit in order to secure your vehicle.

We?ll continue to update this piece with additional information that we discover as time goes on. ?If you this buying at an auction could be a potential route for you to consider, as always, we encourage you to click the banner below to get started with gov-auctions.com, where you can find additional information and get registered to see what auctions are coming up soon in your area.

Source: http://www.truecarguys.com/legit-or-quit-buying-cars-at-us-government-auctions/

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