Get your next car for 90% off of its original value from the Govt repo auctions. The bold and blinking advertisement from a beautiful web page attracts your eyes and you wonder whether is it ever possible? Cars are real expensive and it is difficult for anyone to buy or sell a good car for 70% to 90% off of its market price. Your concerns are true but let us discover how can be it possible to buy a quality vehicle for an unbelievable low price from the repo car auctions.
Who conducts repo auctions?
There are several government agencies like IRS, FBI, DEA, Homeland Security, and Department of the treasury, Universities and educational institutes, GSA who conduct Govt repo auctions to sell off seized, unclaimed or surplus property including vehicles. GSA (General Services Administration) is the largest and various state and local authorities also arrange seized car auctions on regular periods.
Where do they get their inventory?
Govt repo auctions get their huge inventory from different resources. State and local police authorities seize cars from criminals during several law enforcement processes, almost every day. Several federal agencies lease off their vehicles and replace them every 2 to 3 years. Financial institutions and banks repossess cars from buyers who are not able to pay off their loans. All these vehicles come under the government authorities. The influx of seized, repossessed and fleet vehicles is very high and it becomes difficult to handle the huge inventory. Therefore, they auction off them through local car auctions to make quick money.
Are the vehicles in good condition?
Most of the vehicles at any of the Govt repo auctions are in good condition and ready to run on the road. As we have seen most of the cars in the local car auctions are either repossessed, seized or fleet. These vehicles are usually well maintained, with low mileage and come with all necessary equipments. Repo auctions sell cars with normally one previous owner. Above all, most of the seized car auctions provide service records and CARFAX reports. With these details there are no risks when you buy a car from Govt repo auctions.