There are both GSA and bank owned autos for sale at Topeka vehicle auctions. Both opportunities provide you with tremendous potential in terms of selection, quality, and price. In order to make sure that you get exactly what you want, it is important to understand what makes GSA and bank owned autos different as well as some of their similarities. This will allow you know which type of auction to target in order to find the vehicle that you want.
The biggest difference between GSA and bank owned autos for sale at Topeka vehicle auctions is variety. For the most part, the government attempts to primarily utilize locally produced vehicles from the Big 3 American auto manufacturers – Chevrolet, Dodge, and Ford. This means that most of the vehicles at GSA auctions will be these three brands. On the other hand, bank owned vehicles will offer a much wider variety in terms of brands. This is because bank owned vehicles are primarily ones that have been repossessed because the former owner could pay the loan. You will have access to every type of vehicle on the market.
Another difference between GSA and bank owned autos for sale at Topeka vehicle auctions is the variance in price. GSA fleet vehicles are sold simply because it is not in the best interest for the government to maintain them. This means that they place a lower priority on the price that vehicle is sold for and a higher priority on gaining the additional space in their fleet for replacement cars. On the other hand, bank owned vehicles are sold because the bank is trying to recoup the expense of the unpaid loan. Sometimes this is the balance of the loan, sometimes it includes the interest, and other times it simply about getting as much back as possible. This means that they tend to have higher reserve prices as well as higher starting bids.
You should also consider how old of a vehicle you want to purchase. While it is possible to find any age of vehicle at both GSA and bank owned autos for sale at Topeka vehicle auctions, there are some things to consider. GSA auctions tend to have fleet vehicles that are between 3 and 10 years old, with a majority of them being about 5 years old. Bank owned vehicles can be a current model or 15 years old depending on what was purchased. If you are looking for a late-model vehicle then bank owned auctions are a better choice, the same is true if you want a car that is a decade old or more.
Both GSA and bank owned autos for sale at Topeka vehicle auctions can offer excellent bargains on the type of vehicle that you are interested in. By understanding the differences between what these two types of auctions have to offer, you will not only find your preferred vehicle faster, but also get the lowest possible price. Keep in mind that once you decide which type of auction gives you best chance of success, you should still check the listings of both, just to make sure that you don't pass up a great opportunity.