Every year, millions of quality vehicles are indeed sold via Government car auctions. These take place where Government and other related organizations sell cars that have come to them for various reasons and which they need to “dispose” of quickly. These vehicle auctions are open to the general public. Another advantage of these car auctions is that the prices are often set to a “no reserve”. In fact recent figures show an average 28% below dealer recommended prices being achieved at Government car auctions. This represents substantial savings for the average person.
Many have heard of these auctions but there is still some confusion what cars are actually sold via these car auctions. Here follows a list of the main categories of cars that come up at these auctions;
1. Repossessed Vehicles
If a person or a company is unable to meet their financial contract payment dates or conditions, even after being given grace time, the finance company will repossess the vehicle at the cost of the contractee. These vehicles are sold as quickly as possible due to depreciation and cash flow reasons and are often “dumped” as no reserve listings.
2. Seized vehicles
Thousands of quality vehicles are impounded each year for several reasons. Many due to offence related matters. These vehicles may be deemed to be “seized” for various reasons and these vehicles are “disposed” off via Government auto auctions. Importantly, many of these vehicles are sold at no reserve limits. There are many genuine sales each year where BMW’s and other luxury cars are sold up to 90% off estimated market value.
3. Fleet cars
Cars, and trucks that were driven by government officials, even police cars will be sold at the vehicle auctions when its time to vehicle to be replaced for the latest year model. Many times these vehicles are in prime condition, well maintained and under factory warranty. These vehicles are already written off and are many times sold at no reserve.
4. Surplus vehicles
When during the government and police auctions, we find surplus vehicles up for grabs, these are often specialized vehicles that were used by various departments. Again, these vehicles are already written off. And since they are often highly customized, with expensive options, there is no tangible market value. They offer a great opportunity for companies to make great bargains.
5. End of Financial term vehicles
People often take vehicles on lease for a fixed duration, and when this ends, they will return the vehicles to the financial institutions which in turn sell them via car auctions just to cover the write off value. This value is often much lower than then real value of the vehicle.
Due to the nature of these vehicles they represent a large volume of vehicles never found at your local car dealer.
Learn more at http://www.Gov-Auctions.org - The Largest US Government Auction Listing Service.
Article Source: http://www.orbitaloc.com/
Andrew Grant is a retired Motor Journalist. Get useful Information about buying cars at Government Auctions.
Find more information at www.gov-auctions.org
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Article Title: Pay 28% Below Your Local Car Dealer at Government Car Auctions
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