Govt Car Auctions: Excellent source for used cars
Govt. car auctions are undoubtedly the best source of procuring cheap cars which are in excellent condition. Under the umbrella of government auctions you can avail of vehicles which are from various other auctions like repo auctions and police auctions. The various government departments usually hand over the responsibility of selling cars which have been confiscated or impounded to several auctioneers in the country to handle and deal with. This is because it would mean having an entirely new department just to sell vehicles which are coming in by the hundred every day.
Government auctions have the bet and cheapest cars
Vehicles which have been confiscated by the various departments of the government are from banks and financial organizations that have not been returned the loan money from buyers and so the law has taken away these vehicles to try and regain some of the lost money for these lending organizations by selling the vehicles at auctions.
These vehicles are almost always in good condition as they are yet to be paid for and are not too old. They are also some of the latest vehicles and any buyer has the advantage of having a great new model at a throw away price. These are opportunities which should not be allowed to slip out of ones hands and should be made the most of. So if you are deciding on getting yourself a used car the gov auction is obviously the best place to do so.
Finding the government auctions
Locating government auctions is no big deal as there are advertisements in all the daily news letters and also information available on the internet regarding all the forth coming auctions. You can always look for the local auctions which are happening in your own vicinity so that it is easy for you to physically check the vehicles.
There are other ways of finding out more about the vehicle auctions which are happening around you. Getting the assistance of an agent or car broker who deals with live auctions is another way of finding out about used car auctions.
Loans for used cars
Once you have made a choice and are bidding for a car from one of the government auctions, you will probably require a loan to buy the car. The auctioneers, car agents and brokers will be in a position to guide you to several sources where you will be able to get a used car loan. However, if you put in some leg work yourself, you may be able to find a loan at a cheaper interest rate than through these sources.
Bid carefully for the car of your choice
Just because you are head over heels to get the car of your choice, do not go overboard with the bidding. You must ensure that the car is worth what you are going to pay for it, by having it evaluated before you start the bidding. Once you have done this, make a budget and keep an upper limit which you are prepared to touch for the car. Do not go beyond it as this would be a total waste of money when the car is not worth that much at all.