If your idea of a great deal on a car is paying thousands less than its current value, then you might consider trying one of the free government auctions held across the country every week. Cheap buybacks and seized cars for sale are the most frequent items found at these auctions, so you have a good chance of getting a big deal. And the best part is that it costs nothing to attend a government auction, you just need to be at least eighteen years of age with a valid driver’s license.
You’ll find every make and model from every model year at a repossessed car auction. All of which will be offered at a price well below the Blue Book for the simple fact that the government simply wants to get rid of them. As long as the administrative costs of processing and auctioning these vehicles are covered, the government agencies responsible for these auctions are happy.
So where do all these vehicles come from? There are a variety of places and reasons why all of these vehicles are seized or impounded on a daily basis. People stop paying their car loans only to see the buyback man towing his new car. Drug dealers are arrested and all of their possessions, including that $50,000 SUV, are seized and then sold at auction. The large number of vehicles entering the system every day makes selling them quickly and cheaply important to keeping storage costs down.
These free government auctions used to be the closely guarded secret of car dealers. Buying cars well below market value virtually guarantees a profit when selling those same cars off the lot at or above Blue Book value. With the advent of the Internet auction site, it is now easy for the general public to bypass the car dealer middleman and purchase cars at deeply discounted prices.
If you’re concerned about the value of repossessed cars, you’ll be happy to know that most auctioned vehicles are in very good condition, both mechanically and bodywise. The fact that they have been seized does not mean that their previous owners have not taken care of them.
You also won’t have to worry about the devaluation hit that new cars take the moment you pull them off the lot. By buying at discounted auction prices, your new car will typically be worth more than you paid for it, and since you’ll own it outright, you won’t have to worry about an asset depreciating.
So, if cheap buybacks and seized cars for sale sounds like a good deal to pass up, consider seeking out one of the many free government auctions held weekly across the country. Using an online auction site will provide you with hours, locations, and comprehensive vehicle databases so you can find the car, truck, or SUV you’d like to buy without ever leaving your home.