By Imran Nasir
Many cars are seized everyday for some reason or another. These cars are given up to seized car auctions by financial companies, police, and government agencies. The cars are usually part of a retired fleet or could also be individual ones. Some are quite exclusive in that it could have been seized from drug dealers or fraudsters who have invested in luxury vehicles. If this does not bother you, you could get quite a bargain at these auctions.
These seized cars are very often in good running condition, and they could be new as well. Seized cars are usually taken from people who cannot keep up with payments or for the other reasons mentioned. Hence, it is possible that it is a new car. The cars are often sold at around ninety per cent off their retail value. This is therefore the best place for you to find good transport at a great bargain.
Buying a Vehicle at Seized Car Auctions
It is important that you take note of a few negative issues should you buy a vehicle through seized car auctions.
- Some of these cars are not necessarily in pristine condition, especially the used ones, and you will have to check them through thoroughly.
- You do not get any warranty as you would through a dealer.
- There are no guarantees, as these cars come in "as is" condition.
- You are most likely not given the option to test-drive any of the cars on auction. However, there are those auction that would allow it should you ask for the opportunity.
- You would have difficulty to find the right vehicle if you do not know much about cars. You should therefore take someone with you to help you check out the mechanical parts of the car.
The positive options are that:
· The cars should have VIN numbers, and you would be able to use it to check its history, before you start bidding on it.
You are able to buy a car at a very low price.
These cars can be bought online as well, as the banks and financial institutions publish their inventory online. Their intention is to recover any losses from these sales. However, the prices are often far below the cost of the value of the vehicle and that would be an asset to you. Hence, you are able to save quite a bit on buying your cars at seized car auctions.
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