Simply knowing about the online resources that give access to live & online auctions for impounded cars for sale will not tell you which ones deliver a good service. Although they all offer access to auction listings in the US, not all services will let you easily find and buy impounded cars at the lowest prices possible. By reviewing the different services and rating them, this guide will let you achieve this.
Below is a summary of the different services you can find and the overall ratings we have given them according to our research. Start by reviewing the table below, and if you need a more detailed review of the top 3 services see links in sidebar. Then make your selection , visit a site, and start searching for cars.
Impounded cars for sale let you save an enormous amount of money. There are several ways you can get your hands on dirt cheap cars, whether they are new, a few months or years old or older used cars. The first step is to know how you can access them, then how to take advantage of impounded cars auctions before most other people will.
Before explaining further what repo cars for sale are, let’s talk about car values. From the moment you take a new vehicle out of the dealership’s showroom, it starts to loose value. And every year it will continue to do so until there is only a small residual value left that even a teenager without any job can shell out. Furthermore, the more mileage you do, the more wear the car suffers, the more it looses value.
In 3 years, an originally valued $30,000 car will have lost more than $13,000 on average, almost 50% of its value!
So to get more for a car for less money, you should consider smarter investment alternatives, like repo cars for sale. A “repo” car is simply a police, government agency or bank repossessed car.
Repo cars are put up for sale by these agencies once the previous owners couldn’t pay his monthly leasing or loan. For these agencies, as long as they have to stock and maintain the cars, they are a net liability, so it is in their best interest to get rid of them rapidly. That is why you will see bank repo cars for sale at car auctions, with starting bids as low as $100. Any sale price will be a profit for the bank or government agency.
That is where you can profit from repo cars for sale: find local government or bank auctions listing repo cars, check out those that have 1-3 year old vehicles of a brand and model that you are targeting, and drive out there on the day of the auction. You could either check out your local newspaper ads to find these auctions, or consult local banks or car financing companies. That might take you a while. A faster alternative would be to check out the online car auctions services.
As you can guess, seized vehicle auctions features used cars for sale. Yes, there are some junk cars at these auctions, that’s why you should check them up before placing a bid, either by the vehicle’s carfax history, description, or a manual check.
However, there are many used cars for sale that are “like-new” vehicles. Actually, while impound car auctions have police seized vehicles, there are also other government and private party auctions held for seized vehicles that include lightly used cars where the owner could not afford to pay the leasing anymore.
So if you are indeed looking for used cars for sale, it is always worth checking out these type of auctions as it is a large source of supply of cars that can be purchased for very low prices. However, always make sure you inform yourself properly about the make, model and year of your favorite used car so you know what to look for and how high to bid.
Here is the second episode continuing our last video on the classic cars auction held in Hershey, PA. More classic cars for fans of rare & unique automobile collectors. Enjoy the video, and please leave a comment.
If you are into classic cars, then you will be interested in this video. It features all about classic car auctions held in Hershey, PA, where thousands of classic car fans came to see and bid on an incredible selection of classic cars. This auction event featured rare, unique and other collectible cars that some lucky winning bidders took home. Have fun watching, and please comment if you want to tell us what you think about the video.