Car auctions are gaining popularity among the masses day by day because of their reputation for selling off great cars at throwaway prices. Car auctions in cities like Las Vegas, Florida and Dallas car auctions have been famous for quite some time now. In case you live in Dallas or a place nearby and are on the lookout for a used vehicle, then you should definitely check out a Dallas car auction since you will find better deals here than anywhere else.
Where Are These Auctions Held and When: Public car auctions are held in Dallas by many private firms and government agencies. Most of the auctions held in the US are those that are held by government agencies like the IRS, the Department of Defense, Income Tax Offices and local Police Departments. These agencies, as well as banks and other financial institutions keep seizing the properties of loan, tax and mortgage defaulters. Seized property from criminals and conmen also make it to these auctions. Details about where and when these agencies hold their auctions are advertised in local papers generally. You can also get to know about the dates, times and venues of Dallas car auctions from a number of websites that deal with such information.
Who Can Participate: One does not need any great qualifications to participate in a public car auction. All you need in order to bid in a Dallas car auction is be above eighteen years of age and possess a valid driver’s license. While some auctions will ask you to register with them, others might not do so.
Which Are The Best Auctions: Dallas car auctions can be broadly divided into two major categories. There are those auctions that are held by private firms, banks and other financial institutions that may or may not be government owned. These organizations sell off cars that have been seized or repossessed from people who have defaulted on their taxes, loans and mortgages. The main aim behind these auctions is for the agency to recover the money that they have lost as a result of the non repayment of loans and mortgages. So while the cars at these auctions will be sold at prices that are fair enough and much lesser than the market price, you should always remember that the main aim behind these auctions is to earn money. On the other hand, the motive behind a number of car auctions held by the police and other defense agencies is not to make money but simply to get rid of the seized inventory of goods that keep piling up regularly with these departments. So the starting bid at such auctions for cars is extremely low, in fact it is generally 80% to 90% lesser than the actual market price of the vehicles being auctioned. Therefore, if you can get your car from a police auction, then you can rest assured that you have got the best deal possible. Another advantage of buying from government agencies is that you do not have to worry about the auctioneers tampering with the spare parts or the odometers of the cars being sold, which is quite a probability when you are buying from used car dealers.
What You Should Know Before You Bid: In order to get a win win deal at Dallas car auctions, there are a number of things that you should be aware of before bidding for any vehicle. The most important thing that you need to know is the actual market value of the vehicle that you are bidding for. In order to know this, you should be well aware of the condition of the vehicle, and this can be examined thoroughly at the preview or inspection period that is held before the auction. Take along a mechanic who will be able to give you an idea about the exact condition of the vehicles that you are planning to bid on. Secondly, you should also get yourself the car’s history through its vehicle identification number. All auctioning agencies will provide this number to you along with other details about the cars being auctioned like the make, year and mileage etcetera. Based on all this information, you should be able to get the actual market value of the vehicles that you want to bid on either online or through used car dealers. Fix a maximum bidding amount for yourself based on the actual market price of the car, always keeping in mind that you do not bid above the market value of the car. If you follow this rule, you will always be in a position of advantage, firstly, because you will never be paying more than the actual value of the vehicle, and secondly because you can always sell it off to a used car dealer without any loss if you want to sell it off again for some reason.