Repo Cars And Cheap Car Auctions

Cheap car auctions are gaining in popularity as more people hear about them and more are interested in spending less on their next car. Dealers know about these auctions and regularly purchase repo cars there to increase the inventory on their lots. Instead of paying their price, which is usually 30%-40% or more over what they paid, you can purchase a great car at a reduced price without having to go through the typical car dealership experience.

Why the Cars Are So Cheap

When you hear about amazing deals found at auction, you may automatically assume the car had something wrong with it and needed a lot of work. While that is sometimes the case, it isn’t always. There are some cars in good condition that sell for that much less than market value. Buying a car at trade-in prices is typical for an auction. Most experts say not to bid more than
that.
Depending on the auction, the cars come from a variety of sources, such as government agencies that have seized them from criminals or those who haven’t paid fines, taxes or tickets; repossessed vehicles from lenders; or vehicles donated to charities. These groups want to get as much as they can from the cars, but aren’t interested in taking a lot of time to sell them, so they
send them to auction and hope for the best. Sometimes the cars sell for quite a bit, but often they go for under market value.
Sometimes there are fleet vehicles or surplus vehicles for sale as well. These can go for less than you expect at cheap car auctions because so many similar cars are available at the same time. Even if there is a lot of bidders interested in them, it is possible to get one for less as more and
more bidders have already bought as many as they want or if one car isn’t quite as nice looking as the rest.
How to Pick Which Cars to Bid On

In choosing which cars you want to bid on, you need to focus on why you want the car. Since most cheap car auctions have a variety of makes and models, there is a good range of options at each auction. There will probably be a mix of older vehicles and newer ones, with some just a year or two old.
If you don’t car as much about age, those cars will be cheaper. They might have a few more issues, but if the price is really low, they may still be worth it. Because many other bidders are dealers who want cars they can sell without putting a lot of time or effort into them, sometimes just cosmetic problems will be enough to decrease interest in the car and you will be able to get it
for much less.
The more specific your requirements for a car are, the harder it will be to find and you may have to spend a little more than if you are willing to look at a greater variety of makes. Think about signing up on a website that gives you more information about several auctions, so you can easily find out ahead of time which ones have a car you are interested in.
You may also be interested in salvage car auctions

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