Thinking of the possible ways you could be saving money at Corona, CA auto auctions? It is not only the dealers who can buy for cheap at vehicle auctions. With government auctions, even you can take home a good car from the range of cheap cars. Now that you know which auction to get into, the question is how to find these auctions. Next comes how to save cash at vehicle auctions like these.
How to find government auctions?
The American city of Corona lies in California State, in the Riverside County. But car buyers need not have to hunt all over the city to find these used car auctions. Searching every newspaper is time-consuming. Instead, just get into an auction web site with a good data base of all car auctions in the state of California. You will find listings of upcoming online auctions as well as live auctions. Pick a government auto web site with a user-friendly design and an auction tutorial.
Different types of auctions:
- Repo auctions: banks or finance companies repossess or take back the vehicle when the owner is unable to repay a loan. These vehicles are sold to buyers for low prices at repo auctions. Thus, the banks recover their dues and the public gets good bargains.
- Police auctions: the police seize cars from various sources, under the seizure laws. Usually, seized cars are lovely luxury and sports cars from the high-profile swindlers! These cars must be sold off quickly to save the cost of maintenance. Police auctions cater to that need while the masses get their dream cars.
How to save cash?
The tricky part is to get cheap cars that are actually worth much more than what you pay for them. Awareness eliminates half the hassle. Know how much to pay, by using NADAguides or Kelly Blue Book. Read about the terms used in relation to gov auctions. The as-is clause is the most common term.
Be an early bird. Get there well in time for the inspection. Of course, live auctions allow preview time while online auctions sell well-inspected cars with appropriate documents regarding the condition of the vehicle. When allowed to inspect, get a mechanic to check the engine, interior and exterior and check documents. Minor problems might exist but you are mostly safe. Spot out the good pick.
You can bid well below wholesale rates. The reserve prices of these cheap cars are ridiculously low, and you can save thousands of dollars while buying good cars. There is no haggling with the dealer. The bidders are in control. Your maximum bid can safely be about 60% off the market value of the vehicle. Once you buy cars, you can also resell for much higher rates. You have multiple options of making huge savings at gov auctions. Local auctions are good sources of quality vehicles at lowest rates with few or no competing bidders. Government auctions are never advertised publicly, so the competition might be minimal, increasing your chances of getting that car!