If you are wondering – Do seized car auctions exist – then you should visit an auction and check out the repossessed vehicles which are being put up for sale. The number will stagger you and the types of vehicles and the models will stun you even more. Seized vehicles are vehicles which have been repossessed by various institutions for several different reasons. These are institutions like the banks and other financing organizations, the police department and the government. Among reasons like nonpayment of loans which have been obtained from the various banks and lending organization, there are other reasons too where the owners have broken the law in some way, or when the taxes have not been paid or even for drug peddling and other criminal activities.
Where can these cars be found for sale
As these are cars which have been repossessed they will be sold at repo auctions, police auctions and other government auctions too. The best part is that these are great vehicles in brand new condition, and some of them are the up market brands which were owned by criminals and law breakers who always prefer the swanky luxury cars to the modest middle class ones. All these cars find their way to the auctions as they have to be sold off as fast as possible. This is because they are costing the government a lot of money to maintain them, and also for the storage space of these vehicles. To avoid this extra expense the government prefers to dispose of the cars even at cheap rates, but as soon as possible. So for cheap cars which are in great condition, visit the local auctions and see for yourself whether the seized car auctions exist or not.
Used car auctions are cheaper than used car dealers
Cars which are sold at repo auctions and other vehicle auctions are usually for just a fraction of the market cost of the same vehicles. Unlike vehicles which are sold for a larger profit margin by car dealers, the auctioneers are selling these vehicles just to get the basic cost of handling the vehicles and not for any margin of profit at all. The only draw back is that if you are interested in getting yourself a used car you should search for the repo cars as they are not advertised. So you will have to keep a watch on the notices which are put up at various places to make sure you do not miss out on a great opportunity.
There is big competition at repo auctions
As these vehicles are being sold at such rock bottom prices they are in great demand and the competition is really tough to get the vehicle of your choice. People just flock to such used car auctions and there will be large number bidding for the same car especially if it is something fancy and going for a chap rate. The only thing you can hope for is that not many have found out about this particular auction and then you stand a better chance of bidding comfortably.