Posts Tagged ‘used vehicles’

things to look for at used car auctions


2009
11.14

The price you pay for at used car auctions is always higher than what you originally bid. Lets not forget about the buyers premium and this can range from a few hundred dollars all the way up to a couple thousand dollars. It can be ten percent of the bid of maybe just five. When you get caught up in the excitement of a bid it is easy to forget about the buyers premium.

By the time you are done bidding it is possible that you might be paying the same price that you would pay at a private dealer. The whole reason for going to an auction is to get a car cheaper than what you would at a private dealer. And some people travel quite far to go to these auctions. So when you think about it you might be in the hole after leaving the auction and you might as well go to a private dealer.

So when it comes to going to an auction to buy a car, always assume the worst. If you get a bad feeling about something you can always trust that this is probably not a good thing and you should trust your own instincts. Do not be stupid and think that you’re gonna get lucky and that someone who scams you will get justice served upon them. This rarely ever happens.

All of the same rules will apply when it comes to buying a car from a rental car company. These cars are still used cars and are still used by many many people. However the used cars from rental companies usually will have a free limited warranty on them from the company. Auctions are more dangerous because that is where all of the flooded and rebuilt cars usually go.

Remember that when you are buying a car on-line you can not inspect it by no means unless the car is being sold at a local auction. Now if you get an auction that is out of state then you cant look at the car at all until after you go and get it and then you might realize that it is not worth the price you paid for it by far,

Always get to the auction as early as you possibly can so that you can pick out what you are bidding on and to make sure that you can inspect it as much as you can. Make sure to beat the crowds so that there is no one and nothing to distract you. Bring a Kelly blue book with you so that you are not going to be over paying for something.

You always have to pay a higher price than what you actually bid for the car, this alone should tell you how terrible these auctions are. There sometimes is a buyers premium. So this means that you will have to pay at least a thousand or more on top of the price that you win the car for, and lets not forget you also have to pay for taxes on the car.

No matter what, always make sure that what you get is going to be worth the money that you pay for it because you do not want to get something that is a piece of crap and end up paying way more for it than what it is worth.

Want to make sure you’re getting a real bargain at used car auctions? Worried what you may be missing when you read car auction classifieds? Don’t get fooled!

Seized Property – Treasures for Bargain Hunters!


2009
09.03

Seized property offered at government auctions and police auctions are veritable treasure chests for bargain hunters. There is an astounding array of new and used merchandise, sold at rock-bottom prices, sometimes less than 10% of market value!

What is exactly seized property? This is property taken under state or federal “seizure laws”. These laws allow law enforcement agencies to seize property that was used or acquired from illegal activities, was improperly imported into the country, or didn’t have required taxes or duties paid.

For instance, if a drug dealer uses the money he made from drug trafficking to buy a car or truck, even a house, it can be confiscated under the “seizure law”. Jewelry, furniture, computer equipment, art all can be seized.

The numbers and types of seized property that is sold through government auctions is mind-boggling. You can buy cars and trucks, boats, antiques, jewelry, office equipment, even aircraft. And they can be had for mere pennies on the dollar.

Another source of these auction goods is merchandise that was seized by US Customs. The seizure can be for improper importation, or failure to pay import duties or taxes. The Customs agency will often seize entire cargo containers full of property. These are usually brand new goods originally intended for retail sale, that are now liquidated through a government auction.

Government auctions and police auctions are held individually by by each agency, from federal government agencies like US Customs, the FBI, IRS, and DEA, even your local city government and municipal sheriffs departments. Each agency is responsible for holding it’s own auctions, some online, some at specific locations.

So how do you find these seized property auction treasures? There are essentially two ways: first, you can look through listings, but you can spend countless hours as each agency holds it’s own auctions, and they can change daily, weekly, etc. Alternately, you can join a government auction membership site that puts all those listings together in one place. Membership sites vary, however, so before signing up make sure you check out reviews such as those found at Government Auction Site Reviews.

Seized property auctions are literally treasure troves of merchandise. With a little time spent looking, you can find those deals of a lifetime on virtually anything in the world!

Click here to learn What Happens After Foreclosure from Helping Foreclosures.

Advantages and Disadvantages of Buying Used Cars


2009
07.29

Deciding on buying a used car can seem like a huge decision. Buying a used vehicle often offers the best dollar value to the consumer, but with it can come many issues and problems. Many people feel that by purchasing a used car they are setting themselves up for a lifetime of sitting in the local garage and having a depleted bank account. All this can be true, but with a bit of research and careful consideration mixed with common sense, a good used car can be the perfect answer to all your vehicle needs. You just need to take time and balance the pros and cons of each vehicle you are considering.

A used vehicle offers a long list of advantages over trying to obtain a new one. Costs of expenses like insurance, taxes, better vehicle options, as well as the obvious lower price, are all bonuses on the side of the consumer. Also, compared to new vehicles, it is easy to research the history of the vehicle and learn about any mechanical issues it may have as opposed to a new vehicle, especially if it is the first year for the model.

Insuring a used vehicle is considerably lower than insuring a new model. Costs can be as different as $50 to $500 or more annually depending on the make, model, year and previous driving record of the person insuring the vehicle. Another reason for the lower insurance costs is that an older vehicle does not always need to be covered for all possible insurance options, such as collision. A brand new vehicle will need more coverage for protection from accidents.

Used cars may not be under any type of service warranty so you will need to be prepared for out of pocket costs for repairs. Everything from tires to transmissions will be possible issues, so research your potential vehicle before purchasing. Some makes and models are prone to certain common repair needs so avoiding those vehicles will be easy if you check them out first.

Many vehicles that are previously owned are much more reliable than they had been years ago. Vehicles manufactured since the late1980s have reported less repairs and problems occurring to the exhaust systems and body deterioration. Many of todays used cars will last well past 100,000 miles and some as high as 200,000 miles with proper maintenance and care. How the vehicle fairs will depend on how well the previous owner treated and cared for the car.

Unfortunately, an older used vehicle may not have the safety requirements you would like or need to have, so make sure that this is something you take into consideration. Airbags, child safe seat restraints, and traction control are likely to be lacking, but a garage will be able to install a child protective system, and if you shop around, the other features may be found.

There are a few issues to consider when buying a used vehicle but as long as you are alert and practical your purchase should prove to be well worth the efforts made. Always take the car you are considering to a respected and trustworthy independent mechanic for a through inspection. This move on its own could not only make or break the deal, but could save you thousands of dollars in repairs.

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Government Vehicle Auctions – Listings of Near New Cars for Under $5K


2009
05.13

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.

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