If youre interested in buying a repo car but are unfamiliar with the process, you should know first and foremost that there are some exaggerated claims made on the internet about government car auctions. Easily purchasing a brand new Porsche for a few hundred dollars is unlikely, if not impossible. On the other hand, there are some deals to be had, as long as youre smart about your approach and do a little legwork to make sure that you get what you want. Being shrewd will allow you to have a satisfying auction experience.
Car auctions are going on all the time, and in all areas of the United States. At these auctions, there are typically several different types of makes and dozens of different types of models, many of them still quite new, some not so new. If you are patient and attend at least a few auctions over the span of a couple of weeks you are bound to find something that you will fall in love with. So, where does your auction education start?
Here are a few things to know and do when buying a repo car at auction:
- Typically, auctions will hold a preview period of 2 days for prospective buyers to look at the cars offered. Take advantage of this by going in and looking for what you want.
- Obtain mileage information of the cars that interest you from the auction staff.
- Find out before you go what the acceptable payment methods are.
- If at all possible, bring a trusted mechanic or friend with mechanical aptitude to look over the car before bidding. You can contact the auction staff to learn exactly when you will be able to do this.
- Find the current value of the car by looking it up in Blue Book.
- Make sure to inquire about the warranty policy!
One of the knocks of government auctions is that they are frequented by used car dealership owners who probably know more about cars than you do. Dont let that intimidate you. Be firm in your decision to find a car for a good price and dont start thinking of potential obstacles.
Oh, and go on the rainy days you will lessen your competition.
To learn more about purchasing discounted vehicles at auction, you can visit http://www.thehowtopages.com/buyavehicle/.
