Everyday government agencies all across the country seize cars in drug trafficking busts and various other types of illegal activities. These vehicles have to be stored. Typically the government have no use for the vehicles and with the cost of storing the vehicles they would much rather auction these cars off at a public car auction to keep the cost of storing them down to minimal amounts and/or eliminate the cost to store them altogether.
Another reason government seized cars are put up for auction is they decrease in value as time goes by (as with all cars). It is commonly known fact that the value of a car decreases rapidly with time even if it is not being driven.
The recipe for saving a lot of money when buying the things we want, is when the sellers need to get rid of the item becomes greater than the want to make a profit off the sale. Government seized cars becomes the perfect scenario for these types of savings. It is realistically known that saving 30% to 80% even 90% off the retail value of a car from a government auction is very possible. Whew, that is a lot of mullah or more bang for your buck sort of speak.
Typically in every state Government seized car auctions are open for the public every week. Depending on where you live you can find them sometimes listed in the local newspaper or see a auction site with a data base for all government seized car auctions in your area and all through-out the country. I have used many and know the best one that keeps their data updated frequently. There are many kinds of price ranges when it comes to these car auctions. Depending on the inventory for that day you could bid on and purchase cars from $500 to $10,000 or more.
Now let's pass on a few notes here of honest reality. There is a lot of hype on the internet these days in regards to government seized car auctions that seems to make it all sound so easy to buy a car at auction for 80% off retail. Not saying this isn't possible but what happens is, people don't stick to their budgets when it comes to bidding. You have to set a budget amount based on the retail value of the car you want, somewhere in the neighbor of 90% to 30% below retail value. You don't want to bid any higher than 30% below retail of the car (use a Kelly blue book to get the estimated market value) because you have to also pay auction fees and registration. So to get a real deal stick to your budget and if you loose on bidding be patient another auction and the car you want will come by again.
Now that you know government seized cars have to be auctioned off to the highest bidder is a recipe for saving you 30% - 80% less retail on the car of your dreams (if you are dreaming about one). The opportunities are great. There is a good chance you will find a great car for your enjoyment for a lot less or buy cars to resale for a profit. Either way you still have to do your homework, know where to find auctions in your area, how to inspect them and how to budget your bidding as to not pay too much. Research the subject through our site and attend a few auctions just for fun to Just to see how auctions work before you buy is probably the best advice. Good luck and have fun! P.S. Take a friend with you and enjoy it together that's even better : )
About the Author:
Samuel is an seize car and bank repo auction junky that is giving away information to help everyone of you wanting to saving time and money buying your next vehicle from government seized seize car and bank repo auctions and other bank repo seize car and bank repo auctions
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