| Many people searching for cheap used cars restrict | | | | condition and have been well maintained. Good deals |
| themselves to used car dealers and newspaper | | | | are available to people who know how to find the |
| classified ads. However, there are other sources that | | | | auctions, know how to evaluate vehicles without |
| are often overlooked simply because most people | | | | being able to drive them, and know how the bidding |
| know little or nothing about them. | | | | process works. It's best to attend a few auctions |
| Insurance Sales and Auctions | | | | before getting serious, just to learn the process. |
| When cars are destroyed in accidents, insurance | | | | Finding good cheap cars takes a little skill and practice |
| companies "total" the cars and pay off the owner. | | | | -- and good luck. |
| The cars then belong to the insurance companies, | | | | Salvage Vehicle Sales and Auctions |
| who sell them directly or have them sold at auction | | | | Salvage auto sales are similar, and often the same, as |
| by a professional auction company. Same for stolen | | | | insurance sales/auctions mentioned above. Companies |
| cars that are recovered months after the owners | | | | who specialize in salvage vehicles sales or auctions |
| have been settled with. Why would you want to buy | | | | get their vehicles primarily from insurance companies |
| a destroyed or theft recovered car? Because many | | | | who have declared the vehicles as "total losses" and |
| "destroyed" cars are perfectly drivable and most | | | | paid off the owners. Although many of the vehicles |
| theft recovered vehicles are in good to outstanding | | | | are seriously damaged, some can be purchased and |
| condition. This is a good way to find cheap cars. | | | | repaired to good condition for a fraction of the cost |
| Police Seized and Impounded Vehicles | | | | of buying a similar used car. Many, as mentioned |
| Police often seize vehicles and other property from | | | | previously, may not be damaged at all. Obviously, it is |
| bad guys who break laws and go to jail. Certain | | | | necessary to have some mechanical and bodywork |
| violations and legal situations give police this right. The | | | | knowledge to be able to spot the "jewels." For the |
| police agencies then conduct public auctions to sell | | | | right people, this can be a source of good cheap cars. |
| the property and raise money. With such auctions | | | | Bank Repossessed (Repo) Vehicles |
| being held constantly, it is easy to find bargains on | | | | Banks repossess cars from customers who have |
| perfectly good cars. Remember, many bad guys | | | | defaulted on their auto loans. The cars are either sold |
| drive very nice vehicles. Another good way to find | | | | directly by the bank or by a hired auction company. |
| cheap cars. | | | | The bank doesn't much care about sale prices |
| Government Surplus Auctions | | | | because the customer is billed for the difference |
| City, county, state, and federal governments | | | | between sale price and loan balance. Therefore, |
| frequently replace existing equipment, furniture, and | | | | these auctions can be a good source of cheap cars. |
| motor vehicles. Replaced vehicles and other property | | | | As we suggested previously, you should attend a |
| are sold a public surplus auctions at announced | | | | few such auctions to learn the procedure before you |
| locations on a regular schedule. In many cases, cars | | | | get serious about bidding. |
| and trucks sold at these auctions are in good | | | | |