A Worthwhile Venture Can Be Found In Government Car Auctions
For first time car buyers, government car auctions may be a foreign idea. In most cases, people would rather view the latest car models in showrooms or go to second hand car dealers to buy used cars. Most people do not realize how much they miss by not going to an auction. Here are some facts that people should know about these auctions.
Every year, thousands of vehicles go to bank and government surplus inventory and not a lot of people know about it. The number of seized and repossessed vehicles can overwhelm the government's budget. Maintenance along with the storage cost of these vehicles can be very high. To avoid spending funds, banks and concerned government agencies put these vehicles to auction. To get rid of them as soon as possible, these cars, trucks, and vans are sold for as much as 90% less their of their original price.
Various government agencies are involved in these events. These agencies include the US Customs Services, Department of Treasury, US Marshal, Small Business Administrations, US Department of Defense, and Department of Energy to name a few.
Luxury cars have become common in government auctions since the strict implementation of the anti mob law in the country. Imagine the expenses should the government store these vehicles. To dispose them as soon as possible, the government sells them to the lowest price possible. Basically, this explains why government car auctions have quality cars at a very low price.
Aside from the mobs, the IRS also confiscate vehicles from people who were not able to pay for their car loans on time. Most of these cars are near new. Among the brands commonly confiscated by the IRS include: Lexus, Ford, Honda, GM, and Chrysler.
Some cars in these auctions are sold for as low as two hundred dollars. People who are interested to buy a car should take advantage of these government auctions. Just think about the amount of money one can save. Not to mention the value of most of these cars is more than it's worth.
Aside from that, these auctions are held locally or online. For local auctions, they are usually found in the local newspapers. These closed bidding public car auctions are held various times in a year. Interested buyers should stay posted on the dates of government car auctions in their area. Once this information has been secured, a buyer must know how much he or she is willing to spend for a car. Preparing the money ahead is a good way to start so overbidding can be avoided.
tags:government car auctions,government auctions,car auctions,seized cars
