Repo car auctions feature cars which have been repossessed for a number of reasons varying from failure to make payments, to tax evasion. These auctions ften feature cars that are discounted as much as ninety percent from retail value so they are incredibly popular. So when you attend one of these auctions, you shouldn’t expect brand new cars, of course these cars can be in like-new condition they may have minor problems because they are used vehicles not brand new. Morever, there is only one payment and it is usually incredibly low and you can trust the vendor as it is usually a government agency distributing these cars, like police.
When you go to bid on a repossessed car at one of these auctions, you should bring a valid photo identification card and some money for a down payment. It is wise to bring at least five hundred dollars with you to these auctions. The best part about this transaction is that it is completely simple to master. You just have to keep in mind that these cars should be checked out right away after purchase.
When you are thinking of attending one of these auctions, you should first make rounds through the lot and inspect the cars you are interested. It can be helpful to take a mechanic to inspect the cars because they are sold as is and jotting down notes on cars you may want to bid on is important, this way you have in your head what you want before you make a bid on a car. Make sure you jot down how much you would like to pay for each as well, budget yourself wisely. Budgeting is important so that you don’t over spend.
If you are bidding on an online repo automobile auction, you cannot test drive the car beforehand and knowing if something is wrong can be difficult, always run the VIN to find the vehicle history on the car so that you know what you are getting yourself into. A mechanic can help you do this, or you can order a report online. By doing this you will be able to see what the problem areas on the car are and from there make a well informed decision. These auctions are a great place to find a first car, so keep in mind this information.