Seized Car Auctions - Frequently Asked Questions - FAQ's

Did you know that you can buy dirt cheap cars ateven $20,000, depending on the debt that exists
seized car auctions? Some of the best bargain pricesagainst it.
for used automobiles can be found when you attend aIt might be that a car that would be worth $5,000 is
live car auction and emerge as the highest bidder.selling for $2,000 but needs $4,000 worth of repairs!
Bidding at auctions can be exciting as well asThat would not be much of a bargain, would it? You'd
rewarding. You can find top of the line cars, in excellentend up paying $6,000 just to make the car drivable!
condition, being auctioned off at absurdly low prices.So it all depends. Finding a perfect deal is like finding a
Here are some frequently asked questions (FAQs)diamond in the rough. But ultimately, auctions are the
about this phenomenon:ultimate venue where you will find such bargains.
What exactly is a seized car?If it is so easy to find dirt cheap cars at car auctions,
A "seized" car is one that is repossessed, or forciblythen why isn't everybody doing it?
taken, by government injunction. Some examples areYou have to do your homework before you buy any
when cars are involved in a crime, or when the ownercar, whether it is a car sold through the classifieds, a
of the car is imprisoned, or deceased, or is unable todealership, or at an auction. Make sure you know what
pay for the car.the blue book value of the car is. Make sure you know
Why are they sold at auctions?how much the car might need in repairs, and ensure
The government is not in the business of reselling carsthat you factor that into the equation. Do you have
for profit. It merely acts as arbiter between twothat much extra money to spare on a car?
parties - usually the finance company or the estate ofUsed car auctions are not as highly publicized as
the previous owner - and the general public.commercial enterprises, because auctions are typically
The general public therefore has an opportunity to buymediated by the government, and being that the
the car at an opening bid which is usually just enoughgovernment is not a commercial enterprise, they will
to pay off the loans on the car or any liens against thenot typically pay for flashy advertisements.
car and / or the owner that need to be satisfied.Also, people are not as well aware of the quality of
What kind of condition are the cars that are sold atauctions, plus auctions are not something you can just
auctions in?walk into. You need to go at the scheduled time at a
These cars can be in immaculate condition or they canscheduled place. They aren't located at every street
be total junkers. It depends on whatever the conditioncorner like a dealership is. So there is the convenience
of the car was at the time it was impounded. Peoplefactor.
have this impression that seized cars are "dirty" or areAlso, because of auctions, you may not always get
"junkers". That is not necessarily true.the car that you want, because somebody else might
What kind of bargains can I find at an auction?outbid you, or the car that you want may not be
You can literally buy a $20,000 for a few hundredcurrently available at auction.
dollars, if you do your homework and you areBut through persistence and research, if you are
persistent, you can find a diamond in the rough.looking for a dirt cheap car, and are willing to be patient
But one important thing to realize is that not alland persevere, you can save thousands of dollars and
repossessed cars are bargains. It is entirely possibledrive home with the car of your dreams.
that a car worth $14,000 might be selling for $10,000 or