Seized Cars in Virginia Beach Police Auctions are the most popular used cars which are sought by the public. Thousands of vehicles get seized by various government departments and agencies like the IRS, FBI, DEA and the police departments almost every month and are put up for auction at various auctioneers which are open to the public. Vehicles which are sold at these government auctions are often 95% less than the original cost of the vehicle and the bidding commences at just $100. These vehicles which are either surplus or pre owned by government departments are in good condition and also have been maintained well.
Many of the vehicles are also abandoned ones or those which have been seized from their owners for non repayment of loans and taxes and also because their owners have been involved in criminal activities like drug peddling. The abandoned vehicles are towed away by the police department and placed with other cars at various local auctions for sale.
Why are police auction cars affordable?
Cars which have been seized by the police and other government departments are often fairly new and have been confiscated for non repayment of loans to banks or have been seized from their owners who were involved in drug peddling and other criminal activities. Such people always live flamboyant lifestyles and will own nothing but the best. When these luxury vehicles are sold at various live auctions like gov auctions and repo auctions the prices are rock bottom and are also being disposed off in a hurry. How can these dream cars not be affordable when the prices are less than half of their market values?
Repo cars are sold in a hurry
Repossessed cars or repo vehicles are sold in a big hurry because the longer they are kept the more does the government have to pay for their storage and the maintenance too. To ensure wide coverage and more public attendance these cars are put up at various vehicle auctions and used car auctions in the hope that with so many buyers bidding for these cars which are in excellent condition they will be sold fast.
Some rules and regulations of these auctions
Vehicles sold at police auctions and other government auctions are available for bidding to corporations as well as to individuals. Every bidder has to register at the auction site prior to bidding. It is only after registering that they can inspect and view the vehicles. Though these cars have been deemed as cheap cars, they are by no means cheap ones, it is only the price which is very affordable because of reasons like storage and maintenance costs which the government will incur if the vehicles are not disposed off as fast as possible. The final cost of the vehicles is what it has been bid for and there is no changing this value.
Once all the cars at the auctioneers have been bid for, the buyers will have to go and pay for their respective vehicles immediately.