You must have heard that car auctions are one of the best places to buy used cars. Cars sell for an average of fifty to sixty per cent of their real market value at car auctions, and this is especially true of repossessed car auctions. If you live in Las Vegas or nearby areas, then you are in luck, because the number of seized property auctions held in Las Vegas is generally higher than those held at other places. Las Vegas car auctions are famous for luxury vehicles and sports cars turning up dirt cheap. So if you are looking for a car, then checking out a couple of repossessed car auctions before going to a dealer is a good idea.
Repossessed car auctions are generally auctions where vehicles and other property that has been seized by banks, financial institutions and law enforcement agencies are sold to the public. Apart from cars, other movable property like boats, furniture, household goods etcetera are all sold at these types of auctions. The majority of goods being put on sale is constituted by property that has been repossessed from tax and loan defaulters. The general going rate at these auctions is 50% to 60% less than the actual value of a vehicle and herein lies the reason for the popularity of car auctions in Las Vegas.
However, because of the great bargain that repossessed car auctions in Las Vegas offer to their customers, they are generally not highly publicized. A set clientele consisting mostly of used car dealers is privy to information about such auctions while the general public is generally unaware even about the fact that such auctions are held in their city. Most government agencies and financial institutions advertise the dates and venues of their car auctions in some local newspapers. But you have a large chance of missing such ads if you do not know which local paper they are usually advertised in or when an ad is supposed to appear. However, keeping your eyes open might actually make you spot a couple of such ads.
Another method of locating repossessed car auctions in Las Vegas is by personally approaching local law enforcement agencies, banks and financial institutions and asking them about the date, time and venue for future auctions. If you manage to get hold of the right guy, then you are in luck, but you might find that most employees are themselves unaware of all such happenings.
One of the best methods nowadays of finding out about repossessed car auctions in Las Vegas is through databases maintained by auction websites. A large number of auction websites maintain databases of information that will let you know when and where a car auction will be held in your city, state or area. You can find a local car auction by entering your zip or city on such a website. These sites offer information about car auctions throughout the country and not just Las Vegas, so even if you live in other regions, you can manage to locate a car auction through such a web site.