If you want to enjoy buying your second car more than you did buying the first one, then here are some simple tips for public auto auctions in Memphis. The more you get to learn about how to participate in used car auctions, the more profitable will the experience prove to be and you will end up with a much better bargain deal. The first step is to understand where these cars come from and what is their source, then you have better knowledge of selecting the car which you would like to buy. These vehicles have been given to different auctioneers by the repo auctions, police auctions and various other vehicle auctions. You should know which are the best maintained vehicles amongst these, and also some of the latest models too.
Repo vehicles and police fleet
Repo vehicles are amongst the latest models and also vehicles which are in great condition. This is because these vehicles have been confiscated from buyers who have taken loans from banks and various financial organizations and not been able to repay the loan. Once the repayment of loans is delayed for a certain period, then the law department confiscates these vehicles for the lending institutions, and puts them up for sale so that some of the money which is due to them can be recovered by selling the vehicles at various auctions. The vehicles are still fairly new because the loans are still pending.
Similarly the police auctions have great vehicles being put up for sale as the police fleet is replaced with new and the latest models after a stipulated period. This is irrespective of whether the vehicle is in good shape or not. It is not possible for police vehicles to be in anything but great shape because they are well looked after and have the latest and best accessories fitted on them too. Not only do you get a vehicle which was looked after and maintained carefully you also get all the accessories and other extra equipment fitted on them free once you buy the vehicle.
Why these vehicles are sold cheap
The vehicles which are impounded or confiscated for non payment of loans and taxes and for criminal activities cost the government a lot of money to store and maintain them. It is better for the government to sell them off as fast as possible and that is why they are sold at rock bottom prices. So if you want a great car but a cheap car then go to any live auction and look for a repo vehicle or a police one. These vehicles are sold at less than half the original market value and much less than what they would cost you at a used car dealers or through any other source. Auctioneers do not charge any overheads or any other profits on the sales of their goods and that is why they are much cheaper than the outside market. So head towards any government auction of local auction closest to your home.