If you're looking for an automobile but have a very small budget to go around, then an auction of repossessed cars might be the answer to all your problems. Normally, the government and banking institutions seize thousands of cars every day due to a variety of laws, violations and as debt payments.
The government and banks put these automobiles for auction since it is cheaper for them. You see, when they seized or repossessed cars, they have to store them someplace and the costs of storage is a little bit high and not to mention the deterioration and depreciation of the cars would gain if they are put to storage over a long time.
That's why they want to dispose these kinds of automobiles the soonest time possible even if it means selling them at way below their appraised value. The answer is conducting a confiscated auto auction. There are times where banks and the government sell these automobiles at 80% to 90% off retail value.
Automobiles that are auctioned off by the government usually comes from the Internal Revenue Service (IRS), U.S. Marshals Service (USMS), U.S. Customs Service, from the State and local Police/Sheriff's Auctions, U.S. Department Of Defense, Small Business Administration, U.S. Bankruptcy Court, U.S. Department Of The Treasury, Regional Government Public Auctions, Department of Defense Reutilization and Marketing Service (DRMS) and even in other departments like Department of Energy (DOE) and Department of Agriculture (USDA).
It's just a matter of taking time and looking around these departments' circulars and confiscated auto auction notices. It would also help if you know someone in the inside so you could be informed immediately about any auctions.
However, when you go to confiscated auto auction venues, you need to remember two basic things, and these are applicable to most types of auctions. First, you need to run a CARFAX Vehicle History Report on the vehicle's VIN# before you even buy the car. And second, when you have decided to purchase a car you will be needing to buy it an extended warranty. Also remember to give the warranty a thorough glance and review and compare them with other insurance/warranty companies.
But since a confiscated auto auction is such a great place to buy a car, why is it not well publicized. The truth behind confiscated auto auction is that car dealers don't want to let the general public to get to know about this so much. If the general public will start going to these auctions and start bidding on their own, I'm sure car dealerships' sales will definitely be affected; most probably sales will go down considerably.
buy cars from government auctions
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