Don"t Take a Bath at the Local Auto Auction
It is exciting to see the way that American economics are changing lately.
Because of changes in credit and rules for getting auto loans there are more and more cars that are arriving at auction and more and more people that are coming to the auctions to find the dream car they want at a price they can handle.
As more and more people are defaulting on their vehicle loans, the vehicle is repossessed or seized by the justice agencies of the local jurisdiction.
There are now more and more vehicles that are kept in lock down at the justice agencies.
The US Government, Police Depts and Sheriff's Depts hold regular auctions monthly or quarterly to sell off the seized vehicles.
It is possible to find the mid to high end cars in these auctions but do not expect to find the Ferrari or Lamborghini models sitting sweetly ready to pluck.
Some have been found but they are rare and they bid very close to market value.
Go to an auction to find the car, or SUV or mini-van that you would have bought off a dealer lot but at really reduced cost.
If you are not familiar with vehicle maintenance and what to watch out for I recommend you offer a local mechanic a ride to the auction and to pay a bit for the mechanic's advice on vehicles you choose to bid.
The repossessed vehicles will have some history available online as far as accidents or repairs of any significance.
Salvage vehicles are more "iffy".
Be aware of local recent weather conditions like floods or wind damage.
Look for water damage in recesses of the motor well and trunk well.
Inspect the weather seals of doors and windows that may look like they are wind damaged it would be terrible to get a great bargain at auction and then when you get your dream car running you hear a huge wind noise because of a poor seal you did not inspect.
Since you are about to drop 2 to 4 months salary on your next ride to get a better deal; then certainly take the time to fully inspect the vehicles you consider to bid.
If you can test drive them that would be fantastic but not many auction officials will allow that kind of time.
Because of changes in credit and rules for getting auto loans there are more and more cars that are arriving at auction and more and more people that are coming to the auctions to find the dream car they want at a price they can handle.
As more and more people are defaulting on their vehicle loans, the vehicle is repossessed or seized by the justice agencies of the local jurisdiction.
There are now more and more vehicles that are kept in lock down at the justice agencies.
The US Government, Police Depts and Sheriff's Depts hold regular auctions monthly or quarterly to sell off the seized vehicles.
It is possible to find the mid to high end cars in these auctions but do not expect to find the Ferrari or Lamborghini models sitting sweetly ready to pluck.
Some have been found but they are rare and they bid very close to market value.
Go to an auction to find the car, or SUV or mini-van that you would have bought off a dealer lot but at really reduced cost.
If you are not familiar with vehicle maintenance and what to watch out for I recommend you offer a local mechanic a ride to the auction and to pay a bit for the mechanic's advice on vehicles you choose to bid.
The repossessed vehicles will have some history available online as far as accidents or repairs of any significance.
Salvage vehicles are more "iffy".
Be aware of local recent weather conditions like floods or wind damage.
Look for water damage in recesses of the motor well and trunk well.
Inspect the weather seals of doors and windows that may look like they are wind damaged it would be terrible to get a great bargain at auction and then when you get your dream car running you hear a huge wind noise because of a poor seal you did not inspect.
Since you are about to drop 2 to 4 months salary on your next ride to get a better deal; then certainly take the time to fully inspect the vehicles you consider to bid.
If you can test drive them that would be fantastic but not many auction officials will allow that kind of time.
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