By Doing Your Homework, You Can Seize a Great Deal at Police Auto Auctions
You may feel intimidated by the prospect of buying cars from police auto auctions, but they are really just like any other auction. The cars that are being auctioned off in police auto auctions
, though, are vehicles that have been seized from criminals. Since police stations are not in the business of storing these vehicles, they auction them off to the general public and make a little money as well. However, there are important things to keep in mind about police auto auctions
.
The impounded vehicles available at police auto auctions have often been sitting in the impound lot for weeks or even months. In that time, there has been no upkeep or maintenance performed on the vehicles. Keep this fact in mind when you are deciding what you will bid at an auction.
It is extremely important when purchasing vehicles from police auto auctions to get the vehicle identification number (VIN) and run a vehicle history report using a company such as CARFAX. This way, you can make sure vehicles from police auto auctions have not been stolen or in any major wrecks. This will also help you make sure there won't be any major problems attaining the title for the car.
Besides the vehicle history report, you need to do other research when purchasing cars through police auto auctions. Check the blue book value of the car so you know you are not bidding more than the value of the car. Since the car may not have been well maintained, you should avoid paying any more than the blue book trade-in value for the vehicle. Check the prices at local car lots. This way you know you are not bidding more at police auto auctions than you would pay at a lot.
Another step to follow when buying cars from police auto auctions is to purchase a used car extended warranty. Since the car will be used, you need to prepare for at least the possibility that things will go wrong with it. With some police auto auctions, you may not have the chance to inspect the car first so this is especially important.
Keep in mind, when purchasing cars from police auto auctions, the price you bid will be lower than what you actually pay for the vehicle. Usually there are buyer's fees added to the bid price. These are fees that are paid to the auction house and can range from only a few hundred dollars to 10% of the winning bid price. Figure this cost in when you are bidding. After all, the reason for using police auto auctions is to get a better deal than you could at the local used car lot.
Police auto auctions can offer terrific deals to consumers who are wise enough to do their research before bidding. Remember to do all your homework and avoid getting caught up in the excitement of bidding. If you follow these tips, you just may drive off from police auto auctions with a great bargain!
