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How would you like to get a great, almost new car at a very reasonable price? It is becoming more and more common for ordinary consumers, even those with bad credit, to be able to purchase a nearly new car at a very affordable price. How do they do that? They simply buy a car from one of the many car auctions that are cropping up all over the country.
So now people who are in need of a new car have the option to try and buy a great, expensive auto while paying no more than they would by attending one of these auto auctions. This makes the dream of owning a nearly new vehicle a reality for many consumers who become the highest bidders at one of these auctions.
Instead of paying an inflated amount to your neighborhood car dealer, you can buy directly from the source who sells the car at a reasonable price. Yes, auto dealers have to make a living, so they provide you a price that includes large markups that must be passed on. Obviously these markups are going to increase the price you pay and this makes the car costlier to buy.
Most of these auto auctions are conducted by insurance companies, lenders, banks and government agencies, both local and federal. Vehicles are usually brought from different parts of a state, or even from several states, to a very large, central area. The highest amount of cars are those that have been seized by the bank for failure of the owner to make timely payments. There are also many vehicles of all kinds that have been seized by assorted government agencies from people who owe taxes or have been jailed on drug charges.
The majority of these vehicles are in generally excellent condition and may include brand new models with warranty periods still valid. The auction will try to raise as much as possible so that the lenders can be reimbursed for the defaulted amounts.
did you know
There are auctions where only used cars are sold and then there are others where a large number of products including new and used cars are being sold.
These auctions are inexpensive because the sale amount of the vehicle is decided by the buyer who wins the bidding session. The cost of the car is exempt from any supplementary amount that was extra when the auto was initially purchased from the dealer. In this type of auction, bidding starts at a low price and depending on how many people in the crowd are interested in the car, you could potentially actually pick one up.
Many of these auto auctions are advertised on the net so you can get an idea of what is happening in your area of the country. The easiest and most convenient way to find these auto auctions is to look for a car auction directory. There are huge databases and announcement boards of vehicle auctions, both present and future. This way you may be able to find auctions near your home and check out the cars in person.
Without exception, you need to do your homework on the type of vehicle you’re looking for, peruse Blue Book prices for the car you want, make a list, and go for it! Who knows, you might be able to get a new Hummer or Harley Davidson for half or less of its original market value!
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