Auto Auction Secrets

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By Jim Nettleton

You may be aware that, all over the country, auto auctions are in full swing at all times. What you may not be aware of is that you can easily find incredible bargains at these auctions that will enable you to purchase a vehicle very inexpensively and possibly even resell it for a profit.

The two leading sources of these auto auctions are banks and the government. In the case of the government, you can be dealing with the federal, state or local level. Banks auction repossessed vehicles, frequently for pennies on the dollar. They are not in the vehicle business and want to turn these unwanted possessions into cash as quickly as possible.

Usually, banks will auction vehicles for what is owed to them on the loan that they initially issued. In some cases, there could be very little left on the loan, and you could be in line for a significant bargain.

In the government’s case, whether you’re dealing with federal, state or local authorities, there is a different imperative involved. The government never issued a loan on the vehicles they auction, so getting their money back is not foremost in their minds. Most vehicles auctioned by governments have been seized, along with other possessions, from individuals who have been involved in illegal activity. As a result, since there is no target amount to derive from the auctions, vehicles can and do get sold for very little money.

You can get more information on this fascinating subject by getting my totally free report from the link in my resource box below. It takes you through the complete process of finding vehicles at auctions.

Governments also auction their own fleet vehicles that have outlived their usefulness. Usually those vehicles will be relatively high mileage, but don’t let that scare you off. Government vehicles are, for the most part, very well maintained, so the risk involved in buying a used car with high mileage is minimized.

There are some disadvantages to purchasing a vehicle at an auction. First, you don’t have a chance to test drive the vehicle. Second, you’ll usually have to pay cash on the spot, with no financing being offered. Third, no warranties are issued, so it pays to study the vehicles and to know your stuff. But as in anything else involving a purchase, if you prepare carefully and do your homework, as well as using common sense, you can find a great bargain.

If you adopt a careful approach and go in with our eyes wide open, you can win at the auto auction game. With the price of cars steadily rising, this may well be your best option for saving lots of money and getting a good vehicle as well.

Get my free report from the link in the resource box for more detailed information on auto auctions. Happy hunting.

About the author:

Jim Nettleton is a radio and TV professional with wide-ranging interests. Get his free report “Auto Auction Secrets Revealed” here: http://www.jaynetinc.com/AutoAuctionSecrets

Japanese Used Car Auctions Are Reasonable Priced For Anyone Searching For A Car

auto auctions

Buying a used vehicle through various types of motor car auctions has become a more popular method of acquiring a used vehicle. Of course, people like the fact that they can save money through auto auctions and avoid having to interact with a car salesman, which is an added bonus. People who are particularly interested in getting a Japanese model car or truck should seek out a Japanese used car auction in their area.

While all kinds of different auctions are getting increasingly popular, from the online car auction sites to the functions held at car auction houses, it seems the Japanese car auction events are gaining in popularity even faster than other types. Part of the reason for this is the general popularity of the Japanese cars these days because of their overall reliability and because they get better gas mileage than many American made vehicles.

Because of these factors, many more people are starting to consider Japanese models, as they represent some of the best values on the market today. Combine that with the prices that people can get through a Japanese used car auction and it makes a lot of sense to try to locate these special types of used car auctions in your area.

There are many different types of vehicle auctions these days that will often feature Japanese car models, as well as many others brands of vehicles. A great number of the cars that are sold at any kind of car auto auction are seized cars and repossessed cars. These are cars that have been seized by a governmental agency because of some type of illegal activity on the part of the owner, or they have been repossessed by the financial lending institution because of failure to pay on the debt.

No matter what type of public car auction you attend, whether it is for a used Japanese car or a collector car, there are some basic things that must be understood about how all motor car auctions work. First of all, you need to either have cash, a cashier’s check or a pre-approved loan before you can even register at the auction and participate in the bidding.

The reason why you have to have the money upfront is that all sales at auto auctions are final and you are expected to pay for the vehicle as soon as the auction is over. Because sales are final, you also need to be confident in your ability to spot any problems that a used car has during the brief inspection time that you will have before the bidding starts.

The bottom line is that a Japanese used car auction has the potential to help you get our favorite model of Japanese vehicle at a better price than you will find anywhere else. The tradeoff is that all of the cars that are sold through used car auctions are sold “as is” and they don’t come with any kind of warranty or guarantee. And sales are final, so once you win the bid, any problems with the car are yours to take care of without any support from the seller.

You Can Find Your Car From Government Car Auctions

seized car auctions

It is no secret that government agencies at the local, state and federal levels regularly hold used car auctions. However, most people do not know where to find these kinds of auctions or how to be a participant. The government car auctions can be a wonderful source for getting your hands on a tremendously discounted vehicle. It is well worth the time to learn about them.

Many people are only interested in a government car auto to get a reliable car for the family and save some money in the process. However, there are some people who turn big profits by frequenting these government auctions, snapping up all the deals they can, and then turning around and selling these same vehicles at their used car dealership for twice the price, or more, of what they paid at the auction.

However, it should be noted that these dealers don’t always make a windfall profit when they buy vehicles from government car auctions. This is because the cars sold through these public auto auctions are sold on an “as is” basis and they do not have any kind of guarantee or warranty on the condition of the vehicle; all sales are final.

For the car dealer who uses a government car auction to get a number of cars for his dealership on a regular basis, this means that there will be a percentage of the cars that are in need of a considerable amount of repair work before they can be resold. Most of the time, these dealers have a staff of mechanics that can deal with these problems, so in many ways it can be better that the dealers get these cars that have hidden problems because they can handle these issues more easily than an average consumer can.

For people who have the skills and equipment to work on cars themselves, a government car auction can be the perfect way to get a car at a price that is almost a steal. But, if you don’t know a lot about the mechanical workings of a car, then it might not be quite as wonderful. The car you end up bidding on and winning may be reliable, or it could be a lemon. Just keep in mind that it is the responsibility of the bidder to determine the condition of the vehicle before they start bidding on it. Once you are awarded the winning bid, you are committed and the car is yours.

You will find that you will get the most unbelievable prices at the government car auctions if you attend one that hasn’t been widely publicized, since few people will be there to bid against you. Do some detective work to track down the information on the local government auto auctions, instead of waiting around for ads about the events. If you put in the time to get the car auto auction schedules, then you will probably end up saving a huge amount of money when you are ready to bid and buy.

Are Car Auction Houses A Good Place For Affordable Car Deals?

collector car auction

Over the course of many decades, there have often been scenes on television shows and in movies that show how various types of auctions are run. There is a certain excitement to these events and the drama that builds is good fodder for a storyline when the characters become engaged in bidding on artwork, collectibles or even cars. Car auction houses are the businesses that host various types of motor car auctions on a regular basis, from auctions that feature repossessed cars, seized cars, government vehicles, and even classic collector cars.

Some people who are not even particularly interested in buying a vehicle through a car auto auction still enjoy hanging around an auction house on the days that the auto auctions are running, just to take in the atmosphere of excitement and to do a bit of people watching. It can be a fascinating experience to watch the proceedings, especially if you have never before attended any type of used car auction. If there has been a vigorous round of bidding on a particular vehicle, then it can be electrifying when the auctioneer drops the gavel and pronounces the vehicle sold!

Because it is their business, the car auction auto houses fully understand how the various car auctions are managed and how the procedures work. On the other side of the coin, people who have never been to an auction of any sort often feel rather bewildered and even intimidated the first time they find themselves at a used car auction house.

Because of this, it is strongly recommended that first time auction goers, whether for antiques, collectibles and artwork, or for a public auto auction, attend at least one or two auctions in the role of observer and not as a bidder. Most of the car auction houses have an open door policy that allows spectators to come in and watch the proceedings; however, there may be restricted access to certain types of auctions.

The car auction house is not the seller of anything being sold. Instead, they are simply providing the services of the auctioneer, of registering the bidders, managing the auction and collecting the funds that are generated by the various motor car auctions that they host. If a person wins a bid on a vehicle, then they will pay the final bid price, as well as a percentage of the final price to the car auto auction house. This additional percentage is a fee that covers the expenses incurred by the auction house and is the main income source for these types of businesses.

Car auction houses can be a very good place to find an excellent deal on a vehicle. Many of these auction houses will run auction events that will sell the full gamut of vehicles, from a small motorcycle to something as large as a luxury RV. On top of attending a public car auction or two before you try bidding, it is also helpful to search out the current market value of any models of autos that you are interested in bidding on, in advance of the auction proceedings.

Auto Auctions Becoming More Common, Accessible

seized cars

With the strong growth and widespread presence of eBay, the titan of online auction houses, buying and selling through auctions has become more acceptable, more commonplace and more accessible to millions. Even though there have been auto auctions for many years for liquidating repossessed and seized cars, used car auctions are becoming used for more general purposes, partly because of the influence of eBay.

In general, people who are ready to make an auto purchase love to shop at auctions because they can very often pick up an exceptional deal that they might not have ever been able to get through any other avenue. At the same time, sellers also like selling their products through auctions. Once a prospective buyer makes a decision to bid on an item, even if it is a low bid, they have mentally made the decision that they want the item and they become attached to the idea of owning it. When another bidder comes along, it can be easy for this mindset to translate into a bidding war and often the ultimate price is better than the seller could have hoped for.

These same principles apply for all kinds of auctions, not just auto auctions. There are many instances of a buyer getting a real steal on an auction vehicle, especially if there weren’t any other bidders interested in the same car. And, sellers of an auction car sometimes can benefit when two or three bidders have gotten attached to the vehicle they are selling.

For many years, buying a car through an auction meant that the buyer was purchasing a model from a selection of repossessed cars, or cars that had been seized and were made available through government auctions. There were also many types of specialized car auctions that were not open to the public.

But, today, things have changed considerably and now there are more options than ever in automobile auctions that the public can take advantage of, as well as dealers and other industry insiders. These days it is not unusual for banks, credit unions, and finance companies to hold public car auctions to deal with the growing inventory of repossessed cars that they have on their property. Salvage yards, body shops and auto repair shops are also known to engage the services of car auction houses to help them sell vehicles that have been abandoned or seized because the owner could not pay a repair bill.

There is one key point that bidders need to remember when buying automobiles through auto auctions. All sales are absolutely final and cars are sold “as is.” Buying a car “as is” means that the buyer has no remedy available to them if the car they bought at a used car auction falls apart the minute they slam the door to drive home. If you are bidding on a newer car, then this might not be an issue at all, yet it might be better to let mechanics or dealers bid on the older cars that need work.