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How To Buy Repossessed Cars Easily Online

Posted by admin on October 12, 2009
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How To Find Repossessed Cars Easily Online

With the current economic climate, people are rightly looking for ways to decrease their spending on everyday items. The necessity for most families to have a car for work or school is, sadly, a fact of life. You may have heard of people managing to get first rate deals on cars bought from government or police vehicle auctions and some of the figures bandied about seem incredible! However, it is possible to get discounts of 70% – 90% on almost new cars ranging from SUVs to luxury collectables. These folks are not exaggerating. Literally thousands of dollars can be saved if you know how and where to look for repossessed cars – and the search can be made even easier now by doing this online from the comfort of your own home.

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So where do these vehicles come from? Well, various agencies such as the IRS, DEA, FBI and homeland security regularly auction off surplus, unclaimed or even seized properties and vehicles, often from criminals. Banks and other financial institutions also repossess properties and cars from owners who cannot pay or fall behind with payments. In most cases these institutions try to offload these cars as quickly as possible and almost always at well-reduced prices as they cannot afford to pay for storage, and in the case of the vendors, they only need to recoup cost price, not necessarily retail price. The management of such a vast amount of inventory is also next-to-impossible so this is another reason for offloading to the public quickly and cheaply at local auctions. And quite simply, these government agencies are not in the business of making a profit. Another addition to this large influx of vehicles can be from the agencies’ own fleets when they are renewed or completely exchanged for a new range of vehicles.
 
Most repossessed cars are usually in great condition. They are not there because they have been in accidents or because they need repair. They are usually low mileage, almost new cars, that the previous owner could not keep the downpayments going for. Previous agency fleet cars are also very well maintained and in all cases the documents, service history and Carfax reports are all included in the sale. These agencies are not going to rip you off with a dodgy car-crash-waiting-to-happen.
 
There are several ways to find out where these auctions are taking place, but they are not always well-advertised. In pre-internet days, car bargains could be found by looking for local ads in magazines or local listings, or a list of auctions could be acquired from government publishing offices. These days the most effective way to find auctions and even to bid online for repossessed cars is by using a reputable website. Beware, there are a number of scam-type sites out there that offer the world but in reality just introduce you to dead or outdated links or will take your money and then give you access to a poorly populated database. It’s possible to find cars being auctioned at places like e-bay, but these are just your run-of-the-mill vendors selling cars on there like everything else. You need to seek out the government auction specialist sites if you really want to find the bargains. Sites that point you to the actual real-life auctions in your area are the way to go. Here are some tips for attending these auctions and how to get the best results from them:

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 Top Tips For Finding Repossessed Cars Easily

  • Attend auctions in bad weather – the worst weather – the better! People don’t like standing around bidding in the rain.
  • Attend week-day auctions – less people about than the weekends
  • Attend the auction with somebody who knows about cars, maintenance and car mechanics.
  • Arrive first. Get a rapport with the organizers and get the lowdown on what’s coming in. Get to personally know the agency’s representative if possible.
  • Know your target car book price and stick to a set budget. Auctions can be very enticing.
  • Check the preferred payment method beforehand. Some auctions will have an upper limit for cash for example.
  • Do not go bidder crazy. Remember this is real cash. Stick to your limit and don’t get carried away. There is always another auction.
 
repossessed cars

repossessed cars

If you’re looking for that dream car that you never thought you could afford then buying repossessed cars might just make that dream come true.  Repossessed Cars are still out there in huge numbers – grab yours today!

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