If you are on a budget and are looking for cheap cars, Illinois Seized Auto Auctions are the best used car auctions. You could get a car either from an online auction or through one of the live auctions for a very reasonable price from any of the Illinois auctions. Every auction has some really old models of different types of cars and some which are from the repo auctions are almost brand new. You will have tough competition while bidding for the newer cars as most people will have their eyes on these, and this often puts up the prices of the cars. However some of the old cars will also be in good condition and you could always bid for one of these and get them at a really cheap price.
Precautions you should take when buying old cars
Buying old cars and any kind of equipment is fine especially when the prices are very low, but you must carry out a thorough inspection to see the condition of the vehicle and also check if the parts which might have to be changed are available in the market now. So take along a seasoned mechanic who knows about old cars and let him do a thorough check to find out what parts may need to be replaced immediately or shortly. Once you have this list check the market for such parts and also the costs. It is best to bid for the car only after you have ascertained all this.
You must have short listed a few old cars, so carry out the same exercise on all of them before you can be sure of buying any one of them. This will even help you to gauge the price of the vehicle which in any case has to be much lower at the vehicle auction than it is in the open market. Old vehicles area also available with the car owners and dealers and you need not take the trouble of going through the bidding at an auction if you can get a car really cheap directly. However, just make sure that the documents are in place when you buy directly as auctioneers especially at government auctions usually ensure all this.
Repo vehicles at bargain prices
Repossessed vehicles are the ones which everyone is trying to bid for at all gov auctions and local auctions as these are the cars which are still very new. These cars have been confiscated from their owner for non repayment of loans which they had borrowed from banks to buy the vehicle initially and because of financial problems have not been able to pay back. The banks are not interested in making a profit on these vehicles but only want to recover the money they have loaned out. On the other hand storage and maintenance of these vehicles becomes a financial drain on the government and to dispose of them fast they are sol at absolutely low rates. Try your luck at bidding for one of these and if luck is with you your will win your bid.