| Many government agencies have a fleets of vehicles, | | | | financial institutions) if a debtor is unable to keep up |
| however they do not keep vehicles in their fleets | | | | with their repayments. |
| forever. Sooner or later, these vehicles are retired, and | | | | Neither government nor banks has any particular |
| replaced by newer vehicles. The retired vehicles, | | | | interest in holding on to these vehicles. What would |
| although they may have a fair number of miles on the | | | | they do with them? Vehicles are large, expensive and |
| clock, have usually been well maintained, and therefore | | | | awkward to store, and depreciate in value over time: |
| are often in pretty good condition. Additionally, in many | | | | it's therefore better for the bank or government to try |
| cases, these retired vehicles may even come with full | | | | to make a quick sale, and they often do that by |
| service history records! | | | | auctioning off these vehicles to the public. |
| Additionally federal, state and local governments, as | | | | The auctions may include vans, SUVs, and trucks, as |
| well as banks and other financial institutions, can find | | | | well automobiles, and if you spend some time looking |
| themselves owning motor vehicles, boats, real estate | | | | into these types of auctions, you may be surprised at |
| and other property. This comes about because | | | | the bargains that you might find. While of course, |
| property is confiscated from criminals or taken when | | | | there's no guarantees, if you're lucky, it's possible that |
| people default on their taxes (in the case of | | | | you may find the vehicle that you want being sold at |
| government agencies), or because property is | | | | below book value! |
| repossessed (in the case of banks, lenders and other | | | | |