There have been many articles written about police and government auctions, but very seldom are there any specific examples given of the types of repossessed cars you can purchase at them. The government seldom advertises their auctions or the types of items that will be sold at them, so the only way to find out is by doing research on the Internet. The government wants to get rid of it’s inventory of foreclosed homes and repossessed cars, but they don’t want to spend any money on advertising.
Can you imagine if Best Buy said they had some great deals but never really publicized what they were, they probably won’t get half the business that they do. Well in the case with government auctions they still have quite a following with virtually no promotion (mostly word of mouth) and the reason for that is simple, they have the best deals, period. Think about it, no cost paid for the goods sold and they want to move that merchandise out of their inventory as fast as possible. Compare that to a retailer who has a cost associated with each item and needs to make a certain margin on each sale.
To illustrate my point here are a few samples of the repossessed vehicle auctions prices. My research consists of using the highest rated government car auctions site that has been evaluated and reviewed on my own site mentioned in the last paragraph. Keep in mind that these specific items may no longer be available by the time you read this, but you’ll still get an idea of the vehicle discounts that are available through government auctions. A sample of 5 vehicles among the thousands available are:
* 2005 Porche Boxster with 14K miles – $5,790
* Pontiac 2005 Grand Am GT 13.1K miles $5,140
* Lexus 2005 RX300 4×4 13.5K miles $6,450
* Subaru 2005 Forester S 14.1K miles $4,320
* 2005 Corvette with 13K miles – $4,600
So as you see the people that are attend the auctions are getting deals much better expected. There is usually a large variety of makes and models available to choose from. So how can they be sold so cheaply and where do they come from? Cars can be repossessed for a variety of reasons including unpaid debt and/or taxes, criminal involvement, etc. Chances are your car dealership is buying at least a portion of their vehicle inventory at a government auctions, and making a good margin on that purchase so here is your chance to cut out the middle-man and pocket your savings.
Going to a live on-site government auction rather then an online auction is a good idea because you will be given the opportunity to look over the vehicle before you bid on it. As I’ve mentioned in the past if you’re not mechanically inclined then bring someone to the auction who is. Also be careful to verify the quality and the history of the vehicle before you purchase. Given the fact that a small percentage of people are even aware that these auctions even exist, you’ll be able to find a vehicle of your choosing, perhaps even of higher social status then you intended for a much lower price then you expected.