The most frustrating part about auctions is finding them. It is not only important to know where, but how to look. Knowing what questions to ask can help you find a better selection of cars.
If you are new to an area, look in the car classified section of the newspaper first. You can find these classifieds in any newspaper, or for free adds near the entrance to local supermarkets or adjacent to newspaper vending machines. If you tak the time to carfully look through them, you will also find the location for local car auctions. Both of these are prime places for local car auctions to be advertised.
Find a local lending institutions such as banks and credit unions that make auto loans. These institutions will frequently repossess cars that owners have defaulted on. They are a great source to find repo cars for sale. Some lenders will even have the repo cars parked in their parking lot with a For Sale sign on them. Companies like Pay Day Loan and Check City that give title loans to people with bad credit may be a good place to start looking.
Keep the following things in mind when talking to lenders:
– If the first person you talk to doesn’t know anything about repo car sales or auctions, ask to speak to a supervisor. It may take a few people to get to the one who knows the correct information.
-Ask lenders about pre-sales and non-auction sales. Some lenders, especially smaller ones, may sell off their repossessed cars on their own or allow you to purchase a car before they send their inventory to auction. Buying directly can be more convenient because you can see the car on your time rather than the set time of an auction. Test drives are also a possibility, something not permitted an auction.
-Ask for a list of recently repossessed cars and repossessed trucks to know immediately what will be available for sale soon.
Local Repo Websites
Local auction companies may have their own websites listing the dates and times their auctions will take place. Try doing a search for the city you live in plus the type of auction you are looking for. Be aware that if you don’t live next to a large urban area, it may be a little harder to use this method to find car repos for sale.
Online Repo Auto Sites
There are many websites that list repo cars for sale nationwide. These typically have information about future auctions, including government auctions of surplus and seized property which can also be good deals. Typically these sites require a fee membership to be able to access their information. If you plan to attend multiple actions regularly, these kinds of websites can be particularly helpful as they do the finding for you, saving you time which allows you to focus on your vehicle bid choices.
Local Auction Companies
Many auction companies auction off more than foreclosed cars. You need to contact them to find out if they auction bank repo cars for sale. You can find their contact information online, in newspapers or in the phonebook. Request information about future auctions, including location and times. If the company does not do repo car sales, ask them who does. Be sure to get the auction listings and information about the auction rules. Always go to an auction prepared.
Though you may not frequently see ads for repossessed cars for sale, most public auctions put at least one ad in the local paper. Often there is a special section and particular day of the month that these ads are printed. It is much easier to call the paper and ask when and where they will be printed instead of scouring the paper every day.
Related Articles You Might Be Interested In
Avoid Car Repossession
Pros and Cons of Online Car Auctions
How to Buy at Car and RV Auctions
Learn more about Truck Foreclosures and repo trucks for sale