| Impounded car auctions are an ideal place to get a | | | | held. It's a slow process but it works if you have the |
| cheap car provided you know what to look for. | | | | time and/or you can phone your local police |
| What many people fail to realize is that car auctions | | | | department and see when they are holding their next |
| provide individuals with an opportunity to buy cars at | | | | auction. |
| a significant discount to normal retail- usually in excess | | | | The best method though is to join a auction |
| of 40%. | | | | membership site. Here you will get access to where |
| Where do the cars come from that are impounded? | | | | impounded car auctions are being held, what vehicles |
| The source of cars is mainly from government | | | | are being sold, address details including website and |
| agencies including the DEA, IRS and local police | | | | contact details. In addition you will have access to |
| authorities. The cars are 'impounded' (seized) which | | | | other types of auctions that you may never have |
| means that the 'government' owns the vehicle and | | | | thought of! |
| will pass on good title when sold at public auction. | | | | Some useful auction tips - on grabbing a bargain! |
| Ironically cars sold at impound auctions are a safer | | | | 1. Go prepared. It's always a good idea to see what |
| buy as the new owner receives a 'clean title' | | | | you're potentially bidding on. Many a purchaser has |
| irrespective of whether there was any debt | | | | regretted not 'checking' the goods before purchase - |
| remaining on the car this is not the case in a private | | | | don't be one of them! |
| sale where many new owners have learnt the hard | | | | 2. Do some market research. Get a Kelly Blue Book. |
| way by having their cars towed away by a finance | | | | Know the retail value of the car(s) you're interested |
| company where the previous owner has failed to | | | | so as you will know a bargain when you see it! |
| clear any outstanding debt on the vehicle! | | | | 3. Set a budget and stick to it - if you pay too high a |
| In addition the cars can be of good quality and some | | | | price then you won't have got a bargain will you? |
| impounded cars are no more than 4 years old and | | | | 4. If you have got CarFax use it. It's especially useful |
| the really cool thing is that most impound auction | | | | if you have time at the auction and know the VIN |
| units have no reserve attached which means that | | | | (vehicle identification number) to know the history of |
| bidding can start as low as $100! | | | | the car. It might have had serious accident damage!! |
| Where do I find these auctions? | | | | 5. Make sure you budget for the buyers premium |
| There are several methods. The two main ways, the | | | | usually 10% above the winning bid. A lot of buyers |
| first is by doing your own research by looking on the | | | | get caught out in this one! |
| net - but I have found this to be unreliable as most | | | | If you've found the auction and you adhere to some |
| of the auctions have been out of date - one was | | | | of the tips and apply common sense when you |
| nearly 2 years old. You can go to your local library | | | | attend any impounded car auctions you should come |
| and get the yellow pages and ring the auction | | | | out with a good bargain! |
| centers and find out when the auctions are being | | | | |