seized vehicle auction

Thousands of cars & trucks are repossessed & confiscated each year by police & government agencies & investors. Many of these seized vehicles end up at public auction where you could potentially buy them & save thousands of dollars. Automotive auctions are very popular today & a great way to save money especially in our troubled economy.

There is opportunity for everyone at these auctions because of the low prices. Many repossessed or confiscated vehicles sell for pennies on the dollar.

However it important to gain the necessary knowledge & skills required to find the best deals because at these seized vehicle automotive auctions you are basically on your own & there is competition for the really good deals.

In addition be sure of the final price you will be paying when bidding on a vehicle. There are often buyer’ premiums & other sometimes hidden fees that you may be paying as the winning bidder. You don’t want to be sticker-shocked so do your due diligence ahead of time by understanding the rules of the game. Different auctions sometimes have different rules.

A buyer’s premium varies depending on the auction & on the car. It is normal that buyer’s premium in seized automotive auctions be 5% of the winning bid but at times it reaches 10%. So you need to find out before the bidding war begins just how much the buyer’s premium will be.

And don’t forget your little black book when you head off to your local automotive auction to bid on your dream car. You need to understand how mileage condition & model options affect price. Great resources for this purpose are Edmunds Used Car Prices & Kelley Blue Book.

When you need a quick answer about a particular vehicle coming up for bid use these resources to gain the confidence needed to make sound decisions quickly. They will provide pricing information on makes models options & condition.

Also remember when attending an automotive auction that is common practice nowadays to show a bank draft in addition to having a certified check. Also show up at the auction early. Not only will you be able to examine the cars before the bidding begins but you will also have time to consider your options. Your patience will pay great dividends in the end.

Learn more about Automotive Auctions. Stop by this auction review site where you can find out all about Automotive Auctions & what you MUST know before the bidding begins.