There are a large number of vehicles that are seized every month and become the property of the bank or the government by different surplus and seizure laws. These are not just cars but are larger vehicles like trucks, vans, boats and even aircrafts. Storage and maintenance of these vehicles becomes an enormous expense for the government and so they are sold to the public at amazingly low prices at Sheriff Auctions. You can get a BMW or a Mazda at one of the used car auctions for prices that are 50% discounted at times.
These auctions are called the Sheriff Auctions because in several states it is the Sheriff who holds and conducts these auctions and sales.
How are these vehicles and properties procured for auctions?
If owners of properties and vehicles default on their mortgage then the properties are confiscated by the financing company or the government and auctioned to bidders at Sheriff Auctions and other government auctions and used car auctions. These auctions are held regularly in different states and one can find out more information about them by searching on the internet for dates and venues of these Sheriff Auctions and used car auctions. You could get information about these Sheriff Auctions and used car auctions even from the media like the television and the daily newsletters. If you want to know about auctions in a particular area you could key in the zip code of the area on the auction site online and get all the details about the vehicles that will be put up for auction in that area and also details of the make and models too. If you are lucky there may be a BMW or a Mazda for sale at this auction for you to pick up.
It is prudent to do an on site inspection
Though confiscated vehicles are usually quite new and in good condition it is always safer to inspect the vehicle before you decide to bid on it. So even if there is a Mazda or a BMW which you cannot resist, do not give in to temptation and have it inspected first.