For those who are looking to make a profit on buying a used cheap car you can make good profits at Oakland Gov Car Auctions. The best place to get really good cars and any kind of goods and properties is the repo auction which has repossessed goods. This is the best place to think of making a profit by buying these goods at the local auctions and selling them for a good profit. Properties and vehicles are usually repossessed or seized for several reasons like non payment of loans to banks, taxes being unpaid and also for involvement in criminal activities. These properties especially the ones confiscated from criminals are very swanky ones as the life styles of such people are usually flamboyant and they would not settle for anything but the best.
Decide on buying cars which can be re-sold easily
If you are planning to make money out of buying from auctions and reselling the goods you will have to ensure that there is a market for what you want to sell. Remember that if you are planning to buy luxury cars it may not be very easy to sell them. People who want to buy luxury cars will have the money to buy themselves brand new ones and may not want to buy used cars in the first place.
The used car auctions and the vehicle auctions are more for the middle class who will prefer to buy luxury cars directly from the auctions instead of spending more through middle men. What you should bet on are the smaller repo vehicles which will have a better chance of being resold as the value will still be less than what it is in the open market. Many families need more than one car and they are bound to be interested in the smaller cars. See what the lowest price is for the vehicles and also the highest and price the vehicle somewhere mid way so that the price is attractive for the buyer.
Inspect the vehicle for hidden damage
Since you are planning on making a profit by buying the used cars cheap and reselling them, you will have to do a thorough inspection so that there are no hidden damages which will spring a surprise on you. This will add to the cost of the vehicle and the profit you make will come down with this expenditure. Make sure you find out what the problems are with the vehicle and see the history to ensure that it has not met with any major accident. All this will only add to the reduction in your over all profit because if there is a problem you will have to have it repaired before reselling it. So do not bid for such vehicles and make sure that there are only minor jobs which need to be done. You need not worry about the titles of the car as all vehicles which are sold at government auctions usually have clear titles and all the documents in place.