With gas prices skyrocketing, just about everyone is rethinking how much time they spend in the car. In some cases, vacations were changed and carpooling started. You may have considered purchasing a more fuel efficient car for your many trips around town. But is it really worth paying for another car? One solution is to attend a free car auction and buy a surplus or government seized car. By doing this, you could save hundreds or thousands of dollars on the cost of the car and further reduce your expenses. You may be wondering what a seized car is and how it is purchased.
Every month, thousands of cars become the property of the government, the state or the bank. Some of these vehicles are seized from criminals, some are repossessions, and some are government surplus. Whatever the reason, the government and banks find them very expensive to store, so they are sold as quickly as possible, usually this means a discounted price. Some cars are being sold for up to 95% off, sometimes as little as $200. Almost every day, a government auction takes place somewhere in the country, and usually anyone can go and participate if they know where it’s taking place. Most free car auctions are held regularly at specific locations at scheduled times. There are late model cars available with low mileage and older government cars that have been well maintained. If you do a little research, you might be able to get a bargain.
There are two ways to get free auto auction listings. One takes time, the other a little money. Government agencies are required to advertise auctions so you can contact each federal, state, and local government agency to see if, when, and where they have auctions. You should also scan your local newspapers to find out the time and location of auctions in your area. Banks and other financial institutions often conduct their auctions through private companies. You’ll need to contact these organizations separately to see if and when they have auctions.
There is always time vs. money exchange. You can pay someone to do the work for you. There are online auction directory services that, for a fee of around $40, will give you unlimited access to surplus and impound car auction listings. These services have directories of free auto auctions across the country and will email you specific auction information at the location you specify. Directories can give you information on previously sold cars and show locations, and item descriptions for upcoming auctions.
What happens at a free car auction? Offer of course! If you have never been to an auction before, you may want to do a test drive first, they can be very quick. Make sure you know the rules before you start. Cars are generally sold ‘as is’, but ask about warranties and payment methods. There is a preview period, so take a look at a couple of cars that interest you and do some research on them. You can get the VIN number and check the CARFAX reports. Please be aware of a price limit before you start bidding. Don’t get caught up in the bidding war and pay more than you bargained for (or more than the car is worth!)
