For those who are looking for great cars going cheap, the best place is undoubtedly the car auctions where impounded cars are sold. The best impounded cars; the police auction is definitely the best bet. This is where cars are available really cheap and you can get a variety of good models in even better condition to choose from. There is a wide choice of various models and makes and for those who want something at an affordable price which is really good this is the right place to come to.
Where do the impounded cars come from?
There are a large number of cars and other vehicles which are being seized almost everyday from different parts of the country by government agencies and the police department for non payment of loans by their owners. Vehicles are also seized by the law departments from owners who are indulging in criminal activities and these have been confiscated and kept in the custody of the police department. Not only do the criminals get their vehicles seized, but all other valuables property also gets confiscated by the law and is sold off cheap at various auctions.
Why are the cars sold cheap and in great haste?
Storage and maintenance of these large numbers of vehicles becomes the responsibility of the government and this works out to a large amount of money. So to avoid this unnecessary expenditure the government sends these vehicles to various auctions which are part of the government auctions, like the police auction, the repo car auction and the state government auctions for quick disposal. These auctions are being held at regular intervals all over the country, in fact in every town and are open to the public. As the auctioneers and the owner's of the cars are not involved in the profit, but it is the government who is looking to sell the vehicles, they go for nonprofit making rates which are very cheap.
Start bidding at the lowest rate
Before you start bidding you should get an idea of the retail price and the market value of the car which you wish to buy. This will help you in knowing the limit which the bid can go up to. Always start your bidding at the lowest price, because as the bidding continues the price will keep getting hiked and in your excitement to own the car you may overshoot the price of the car.
However, this rarely happens and most of the cars are sold at prices which are as low as 10% of the market value. Cars which are being bid for by many people and are more in demand are the ones which get sold fast and at prices where the bidding does go to higher prices.
Search for repo car auctions online
Even if you have not been able to get the car of your choice at this particular auction, there is no need to feel disheartened as there is always another repo car auction round the corner where you can get your dream car. Keep doing regular online searches so that you do not miss out on any of the auctions and go through the list of cars which are available at these auctions.