| With so many advertisements claiming to offer the | | | | auctions. Seized cars should not be confused with |
| latest luxury cars for just a fraction of their price, | | | | repo cars as there is no defaulting of payments or |
| people can get quite sceptical when they come | | | | collateral involved. |
| across genuine opportunities like government car | | | | People looking for luxury vehicles will find seized cars |
| auctions. The truth is that there are some expensive | | | | at government car auctions the ideal choice, as luxury |
| luxury cars available for a fraction of their price, but | | | | vehicles are often seized from wealthy people that |
| one has to go through a lot of bucks to get to the | | | | were found guilty of financial crimes. In fact, it is not |
| luxury cars. One of the most cost effective ways of | | | | uncommon for people to come across brand new |
| acquiring vehicles is through government car auctions, | | | | cars at government car auctions. |
| and government car auctions are held all over the US | | | | Things to remember while buying cars at government |
| (the cars available are essentially repossessed, seized | | | | car auctions |
| or surplus vehicles). | | | | Unless you are an expert yourself, it is important to |
| To better understand the legalities involved, it is | | | | consult a car expert to know exactly what condition |
| important to understand the difference between | | | | a car is in. Although government car auctions are |
| repossessed and seized cars. | | | | designed to be neutral and transparent, it is important |
| Repossessed Cars (repo cars) | | | | to remember that no government car auction can |
| Repo cars are cars that were offered as collateral | | | | guarantee the condition of the car being sold. You |
| against a defaulted loan, or have been repossessed | | | | should always check the condition of the car before |
| by government organizations or banks due to non | | | | finalizing the deal and if you are not confident, do not |
| payment of instalments. Repo cars are more often | | | | go through with the deal. |
| than not well used, and should be treated as second | | | | If you are not familiar with the way a government |
| hand cars. In fact, the reason why repossessed cars | | | | car auction works, observe other bidders to get a |
| are so competitively priced at government car | | | | better idea of bidding procedures and also how you |
| auctions is because they have been used by the | | | | can get a good deal on the car you are buying. It is |
| owner (in some cases for a few years). | | | | important to remember that even online auctions are |
| Seized Cars | | | | conducted by the government are hassle free and |
| Whenever a person is imprisoned for a financial crime | | | | transparent. Make sure you specify the exact model |
| (like tax evasion or fraud), all his assets (like cars and | | | | of car you are looking for, and also keep in mind that |
| properties) are seized. In addition, cars that are part | | | | you will be paying only for the vehicle and not for |
| of federal evidence or have been used in a crime are | | | | any additional process or paperwork. |
| also seized and auctioned off at government car | | | | |