Did you know that buying cheap impounded autos from impounded car auctions is actually worth much more than what you expect for the effort? Impounded cars that are on sale at police auctions and repo auctions are those that have been taken into custody for legal reasons. The cars are not actually seized from hardcore criminals. Some people fail to repay bank loans and others are forced to forfeit their vehicles for tax reasons. All these impounded vehicles are mostly high quality vehicles that the government is forced to sell at the earliest. Add to these the unclaimed vehicles and cars from the military and hospitals and fire stations and you have a huge variety of autos at government auctions.
Most used car auctions are infamous for selling defective ‘lemons’, but government impounded car auctions are famous for getting customers the best bargains they could ever hope for! Authorized auction houses conduct these vehicle auctions and sell cheap cars every day. Local auctions are also held for the people of particular regions. There are live auctions and online auctions for the customer to participate in.
Impounded car auctions are easy enough to register for. You are issued a bidder id for a particular auction session. Once registered, you can inspect the many cars and see if you can pick out one or two to bid on. These used car auctions are not advertised much, so the competition is relatively lower compared to other vehicle auctions at dealerships. Also, the reserve price is set very low because the intention is to sell the car and get the cash returns real quick. This desperation is advantageous for the thriftiest customer who can buy cheap cars in short time.
It is best to arm yourself with a blue book for checking the net worth. You might also need to get along your drivers license and other documents. If you are confident, do the inspection yourself but it is advisable to get an expert to spot any defect. Impounded car auctions ask for a small registration fee. Once the bidding starts, the highest bidder is expected to make the payment within a certain time. Note that the cheap cars are sold as-is at these live gov auctions, which means you cannot expect the auction house to take back the car.
Use CarFax and check on the vehicle you are interested in. During inspection, check everywhere to avid ending up with junk: under the hood, lights, interiors, below the car. Check for extended warranty if applicable. The most important thing that most people miss out on is to remember what you came for! Most people get swayed by the luxury cars or sports cars and forget that their requirements were totally different. This checklist must be prepared much in advance, along with your estimated bid limit. Impounded car auctions do attract buyers from everywhere but you need not be intimidated by seasoned bidders. Play your cars well and you will definitely get the dream car you were waiting for!