As one of the most populous counties in Pennsylvania, Allegheny County is home to many universities, colleges, attractions, and businesses. Although it has gone through many economic ups and downs, it has remained resilient, constantly adapting to what is necessary and profitable. Today it is known for active health care and industrial businesses.
It is also in Allegheny County where you can get some of the most awesome seized cars at a price that you will not cringe paying.
But What Are Seized Cars?
Connecting “seized” and “awesome” may sound awkward to some, but the truth is, there is not. Every year, thousands of vehicles are repossessed or seized by law enforcement, government agencies, and private entities such as banks.
Repossession happens when:
- A person is not able to complete the repayments and thus has gone on default
- The vehicle is used in collateral in a loan that can no longer be paid by the borrower; in turn, the bank secures the car to recover the losses and unpaid obligations.
- The vehicle may be purchased through illegal means (e.g., smuggling or money laundering) and is therefore seized by law enforcement as part of the asset forfeiture.
These entities, however, are not in the business to sell vehicles. In other words, they do not know what to do with these cars once they have been repossessed or seized. Worse, the more they are kept, the more the government or the bank spends for their storage and maintenance.
One of the best options thus is to sell them through an auction.
Big Sale Is Waiting
Contrary to popular belief, you do not enjoy bargains in auctions all the time. Many factors can affect your bidding, such as the number of bidders, minimum bid price, your overall budget, the car that is being auctioned, the auctioneer, and the condition of the vehicle.
Nevertheless, it is still great to join a car auction in Allegheny County as it gives you the chance to save as much as 90% over the book value of the property.
This can be achieved for a number of reasons:
- There are only a few bidders for the seized vehicles, which give bidders more control over the final price.
- The auction is just short (only for a few hours, for example), so only a few bidders are given a chance to participate.
- The auctioneers are aching to let go of the vehicle they do not mind getting only enough to recover their losses or expenses.
- The vehicles may be an older model. Usually, buyers or users of pre-owned cars are still discriminating. They still prefer recent models, normally those that are no more than 2 years old.
Buying seized cars in Allegheny County car auctions is not so bad after all. Why it is not really nice to be happy at somebody else’s loss, getting it means maximizing the asset, and you do not have to dip deeper into your bank account to do that.