Oct 10
4
Seized cars and repossessed cars are very popular if you are looking for a great deal on a cheap car. At auctions, it is not uncommon for these cars to sell for 50% or less of what they would cost at retail. Today it is a very popular thing for people to buy cars for a fraction of their regular cost. This is why buying repossed cars and seized cars at auction is becoming more and more popular.
How to find seized cars for sell. First get off the internet. Except for a few really good sites that have great information on repossessed cars for sale, the majority of site out there are just full of crap. The iternet also confuses and disorients people and makes them more susceptible to internet scams. For instance a lot of site will charge you for a list of repos they get for free. When you bid on these they are usually always sold. If the auction is not local, you will hardly find a good deal anyway. My advice is not to subscribe to this sites and only bid on cars auctioned locally.
When you go to repossessed car auctions, it is important to know how much the seized or repo car is worth. In other words, what is the value? While there are several ways to determine value, my advice it to start with a car value guide such as the NADA or KBB. You will want to get access to the dealer trade in value. With any luck you will be able to buy the car for cheap then it is listed for and you will generally not want to bid over the trade in value. Doing these things will help you get a get deal at the next auction you attend.