If you’re interested in seized auto auctions, then you’ve probably heard of the amazing prices they offer. With cars starting as little as $100 and discounts up to 90% off for both used and new cars, it’s hard not to want to buy one. Are these claims real? Yes, they are, but there are some important things you need to know before you go to any seized auto auction to get the most for your money.
The first thing you should know regarding seized auto auctions is to expect that many of the cars have minor mechanical problems because they have already been driven for thousands of miles. This is really not a big issue though because you are saving 90% on the book value of the car, so another $50-200 on a fairly new car is still more than worth it.
The biggest tip I can give is to get to the auction site early. At seized auto auctions they let you inspect every car on the lot before the auction begins. Get there as early as possible and take this time to inspect each car that catches your interest. Bringing a pen and paper is a great help. Also, there are many websites which contain daily databases of which cars will be at which auctions. So what I do is I search the database for cars I am interested in that will be at the auction. I then look up the Blue Book value of each one. Then I bring this information to the auction site and thoroughly inspect each car, ensuring that I will get the most for my money.
Another tip is to bring a friend that knows a lot about cars. He can be a great help because most seized auto auctions you are not permitted to test drive any cars.
If you are bidding for cars online, it is required that they list the VIN. Since most of the time you can’t test drive a car from an online auction, you can still run a CarFax history report on the vehicle using the VIN.
Always, when you are at seized auto auctions, never bid on anything you are uncertain about. Make sure you are confident in the car you want before you bid and you will be more than happy with your decision.