| Every year, millions of quality vehicles are indeed sold | | | | reserve limits. There are many genuine sales each |
| via Government car auctions. These take place | | | | year where BMW's and other luxury cars are sold up |
| where Government and other related organizations | | | | to 90% off estimated market value. |
| sell cars that have come to them for various reasons | | | | 3. Fleet cars |
| and which they need to "dispose" of quickly. These | | | | Cars, and trucks that were driven by government |
| vehicle auctions are open to the general public. | | | | officials, even police cars will be sold at the vehicle |
| Another advantage of these car auctions is that the | | | | auctions when its time to vehicle to be replaced for |
| prices are often set to a "no reserve". In fact recent | | | | the latest year model. Many times these vehicles are |
| figures show an average 28% below dealer | | | | in prime condition, well maintained and under factory |
| recommended prices being achieved at Government | | | | warranty. These vehicles are already written off and |
| car auctions. This represents substantial savings for | | | | are many times sold at no reserve. |
| the average person. | | | | 4. Surplus vehicles |
| Many have heard of these auctions but there is still | | | | When during the government and police auctions, we |
| some confusion what cars are actually sold via these | | | | find surplus vehicles up for grabs, these are often |
| car auctions. Here follows a list of the main | | | | specialized vehicles that were used by various |
| categories of cars that come up at these auctions; | | | | departments. Again, these vehicles are already |
| 1. Repossessed Vehicles | | | | written off. And since they are often highly |
| If a person or a company is unable to meet their | | | | customized, with expensive options, there is no |
| financial contract payment dates or conditions, even | | | | tangible market value. They offer a great opportunity |
| after being given grace time, the finance company | | | | for companies to make great bargains. |
| will repossess the vehicle at the cost of the | | | | 5. End of Financial term vehicles |
| contractee. These vehicles are sold as quickly as | | | | People often take vehicles on lease for a fixed |
| possible due to depreciation and cash flow reasons | | | | duration, and when this ends, they will return the |
| and are often "dumped" as no reserve listings. | | | | vehicles to the financial institutions which in turn sell |
| 2. Seized vehicles | | | | them via car auctions just to cover the write off |
| Thousands of quality vehicles are impounded each | | | | value. This value is often much lower than then real |
| year for several reasons. Many due to offence | | | | value of the vehicle. |
| related matters. These vehicles may be deemed to | | | | Due to the nature of these vehicles they represent a |
| be "seized" for various reasons and these vehicles | | | | large volume of vehicles never found at your local car |
| are "disposed" off via Government auto auctions. | | | | dealer. |
| Importantly, many of these vehicles are sold at no | | | | |