New Cars At Auction in District of Columbia
It is becoming more common to find new cars at auction in the District of Columbia. Deciding how new you want your car to be is essential to helping determine which type of auction will give you the best chances of success. If you are looking for new car which is fresh off the lot than general public auctions will likely be your best opportunity. If you are interested in cars which are nearly new then looking into police impound auctions is a good choice. While there are several different types of government auctions in the area, they tend to have cars which are between three and 10 years old. Here is a closer look at all three of these types of auctions and what you can expect from.
General public auctions often have a larger number of new cars at auction in the District of Columbia than any other format. This is because the cars can be sourced from any number of places. One of the most common sources of new cars at these auctions is actually from dealerships. There are several reasons why a dealership may want to face a new car in a general public auction. The first is that they are overstocked with new cars and simply need to make space for incoming units. While there will normally be a reserve price on these cars at the auction, they tend to be near or below invoice pricing. Another reason that they will enter new cars in these auctions is in order to recoup bonuses from manufacturers. Car manufacturers will give dealerships volume-based bonuses on monthly, quarterly, and yearly basis. If they are near the benchmark to meeting these bonuses, then they can net a profit even though they sell a few new cars well below the invoice price.
If you want a car which is fairly new, less than year two old, then general public auctions can provide you with another opportunity as well. In most of these auctions, a majority of the vehicles will come from local lending institutions which have had to reclaim vehicles because the previous owner did not make their monthly loan payments. When this happens, the lending institution prefers to sell the vehicle and attempt to recoup as much of the loan balance as possible. In order to do this, they will first try to sell the cars out right on their own however the price will be fairly high. When they determined that they could not make the sale directly, they will enter the vehicles into general public auctions.
One of the hardest parts about finding new cars at auction in the District of Columbia is obtaining a current listing and sorting through everything that will be available at the auction. This is one of several reasons that many of these types of auctions now utilize reputable online auto auction websites. In some cases, the websites will only provide you with information related to the current listing, while other times you can pre-bid on a vehicle or even place a bid during the live auction from the website. By utilizing some standard features on auto auction websites you will be able to quickly access the entire listing and filter the results based upon your personal preferences. For example, if you are only interested in new cars then you can use the search function to only show you the new cars which are on the listing. This is an important feature because it not only saves you a lot of time, but also ensures that you will not miss or overlook potential opportunities.
If you are interested in new cars at auction in the District of Columbia, but also want to look at less expensive vehicles which are a few years old then police impound auctions are a possible solution. In the District of Columbia these auctions are overseen by the Department of Public Works. As a result, you may also see vehicles which were formerly fleet vehicles for the government. Currently, every vehicle put up for auction can be found online and you will be given an opportunity to place your bid. One thing to keep in mind is that since these cars were impounded, there is no guarantee as to the current running condition because the cars do not come with keys. This is because when a car is towed, the owner does not leave their keys in the car.