Government Car Auctions

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The Pros and Cons of Car Auctions

Government Car Auctions

Due to the world economic downturn, it has been a necessity to tighten ones belt and attempt to spend less without having to sacrifice ones standard of living. Government car auctions can be a great way to purchase highly desirable cars at highly desirable prices.

Where do these cars come from?

The source of the cars come from various places, some are repossessions of people that have not been able to keep up their mortgage payment or car repayments, others may vary from failure to pay road taxes, insurance or they might simply simply be repossessed due to The car / vehicle being involved in some type of criminal activity.

The Pros and Cons of Car Auctions

Let me point out to you the following 'Pros' and 'Cons'

'Pros'

1. OK, if you're buying from a government auction you're more than likely buying someone's repossession so they will probably go for a lot less than their actual market value ... a lot less !!! In some cases even up to 90%.
However, Do not always feel guilty, it's impossible to tell where they came from, some of these cars have been confiscated from criminals who have cheated the system.

2. You can pick up some really special cars here, BMW's, Merc's, Porsche's, almost anything! Some of the most desirable cars around going at prices that are just too good to be true.

3. Its like a surprise bag / lucky dip, you'll never know what's there, there will be hundreds of cars all shapes and sizes, the choices are endless.

4. These auctions usually happene a few times per month, so you do not have rush into anything. If you started with a particular price but you were out-bid you're more than likely going to find a similar car the next time round, or even the same day.

5. There are no pressure sales, If you want to buy the car ... you put you hand up. If you do not want to buy the car ... do not put your hand up - the only person you have to negotiate with is yourself and not some pushy salesman.

'Con's

1. In any auction, you're under legal obligation to pay for what you bid on (only if you win the bidding).
Let me create a scenario: If you bid on something and realize that you made a mistake, then the hammer goes down and you're the last bidder, there are no pullouts! Take special care when bidding and make sure you're conscious of what your limit is.

2. If you bid and win the bidding, the car is yours (after you pay for it, of course). A lot of the cars have inspection warranties, but some do not.
If you did not do your research before the purchase and suddenly you realize that there is a scratch you did not notice or the doors fall off when you drive home, there are not go backs, no warranty, no refunds. What you see is what you get.

Conclusion

So, in my opinion the Pro's outweigh the Con's but in any case there are still rules you need to follow so you do not end up buying a problematic car.
Ok, so here are the rules

(1) Do your research (inspect the vehicle yourself, every inch, check if it has been issued with an inspection warranty etc)

(2) Have a clear figure in mind (and stick to it) Do not get caught up in a bidding war, once the bidding goes over your original price ... STOP!

(3) If you have an itchy head ... do not scratch it !! Well, at least until the bidding is over :)

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Source by Jacob Filice