Many people want to replace their new cars, with the second hand models to reduce their expenses. In reality, we will be able to purchase repossessed or surplus cars at very low prices. In many cases, we should be able to save thousands of dollars. Some national and local government agencies, such as IRS, local police departments, local companies, DEA and even FBI could hold public car auctions. This allows them to offload surplus or repossessed cars to the highest bidders. Often, we could get decent used cars at crazy knockdown prices. Some of the cars could be seized from criminals or repossessed from people who can’t keep up their car payments.
Often we could find next-to-new cars at good conditions sold at very low prices. Many government agencies and companies also auction off the present fleets, because it is time to renew them. In many cases, we could guarantee that these cars have been properly maintained. We should be able to find our dream cars at very low prices. Unfortunately, many of these auctions are not well publicized and we won’t find advertising in local magazines and newspapers. So, it is important for us to find out when these local auctions are held. If we are lucky, we should be able to obtain repossessed cars, government surplus and seized cars at great conditions.
We should be aware that auctions can be rather daunting for the first-timers. In this case, we should be able to familiarize ourselves with the bidding process. We should take note of how other bidders behave. Many of them are professional buyers who plan to flip the cars and gain some profit. We may also want to track down where local dealers go to get their used cars. We could minimize the bidding competition by choosing unlikely days for an auction. As an example, the worse the weather could be the better. Auctions held during weekdays are often less crowded. If possible we should seek winter auctions, the colder the better.
We should try to set our budget and we need to stick to it persistently. For many people, seeing so many decent cars sold at low prices can be like children walking into a toy shop. We shouldn’t get carried away and we could always stay within our means. It is a good idea to check for slight, superficial damages to determine the actual conditions of the car. First-timers will be eventually outbid by professional bidders who have been in the industry for many years. They are interested in cars that they can slightly refurbish and resold at higher prices. We should know their methods and learn from them.
In fact, it is a good idea to attend more crowded and competitive auctions to see how big-time bidders work. Eventually, we should learn how to be a tough bidder. Bidding is often like a game of poker. Bidders may actually bluff and try to make other bidders pay too much for specific cars. When the competition has mostly reached their budget limit, it will be easier for professional bidders to get cars they want.