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When looking for a great car, and a great deal, finding local car auctions should be your first step.  There are a number of different types of local car auctions. Government vehicle auctions are typically scheduled to auction off property that’s been seized for some reason, often back tax liabilities or bankruptcy issues. They can come from the Internal Revenue Service, U.S. Customs, or the U.S. Marshal Police impound auctions are used by cities to get rid of property that’s been abandoned or seized by the police department for illegal activities like drug dealing. Dealer auto auctions are regularly scheduled auctions where auto dealers can buy or sell inventory automobiles, and most of the finance companies are represented at these auctions as well. The lenders sell their off-lease units and repossessed vehicles at local car auctions.

With local car auctions that regularly take place, the value for these vehicles at auction is lower than any other place. Generally, the prices are lower for those models which are plentiful at auction and higher for those that are rarer. For instance, if there are hundreds of Ford Taurus models running through an auction that are off-lease, they likely will sell at the auction inexpensively.  Likely, you’ll see lots of managers from local Ford stores snapping those up at dealer auto auctions. Cars that have been confiscated and are being sold through government vehicle auctions or police impound auctions are typically unique, and the prices will be higher.

To find the best deal on the type of car you’re looking for, check out the local car auctions in your area. Local car auctions most often are not publicized, so you will have to do a little legwork to find them. The auctioneers know one thing: when there is a large crowd at local car auctions, the price for each vehicle goes down. Hence, advertising auctions is not on their priority list.

Once you find local car auctions, how do you get a great deal? Auction houses frequently post listings of the cars to be auctioned ahead of time, and you’ll want to get your hands on that. Then, check the NADA wholesale value of the cars that you’re interested in, so that you’ll have a good idea of what the cars are worth. If the local car auctions listing gave you VIN numbers of the cars, run those that most interest you through Carfax to determine any accident or odometer issues. This will also give you information on where the car came from, and if it has warranty time left. Go to the auction venue early and look over cars that you are particularly interested in purchasing so that there are no surprises later. Most auction houses allow pre-bid inspections.

Local car auctions start early in the morning, and you should be prepared for conditions in the auction barn. Frequently, it will be very hot or very cold, depending on outside weather, so dress accordingly. Each car, in turn, will be run through the auction lanes and be sold to the highest bidder.  Keep your eyes open and pay attention, similar cars will be running, and you don’t want to buy the wrong one. One final and important thing: no matter how much you like a car, do NOT pay more than NADA wholesale value. The whole point of buying from local car auctions is to get a great deal.

I’ve heard of some auto dealers that buy their cars at dealer only auctions. I was just wondering what the average price is that they pay for their vehicles. For instance, how much might they pay for a car that they plan on marking at their shop for ,000? What is a used dealers profit margin typically?

Has anyone used a government auction site like this: http://www.gov-auctions.org/ They need a membership fee and I want to know if it’s worth it. They claim to get you into auctions to buy cars for half their regular value. I thought an auto dealers license was needed to enter auto auctions.

i figured getting my auto-dealers license.so i may go to dealers auction.and after a while then i can prepare myself for a good business location.can i have some advice.or some type of business ideas for someone who doesnt have alot of money but thinks maybe somewhere arond 10,000 would be enough to start something.i need ur help,please

An auto auction refers to a selling event that observes the sale of vehicles to buyers who bid the highest value for a particular vehicle or a fleet of motor vehicles. Auto Auction is a phrase that engulfs a range of auctions within itself such as car auction, seized vehicle auction, public car auction, used car auction, and car salvage auction, etc. The process of auction can be witnessed in some form or other in every part of the world with a slight difference in the course of events.

 

Auctions are the most sought after events by auto lovers as they can lay hands upon the best of vehicles available at the least possible prices. Yet most of the auto lovers can not attend every auction due to the distance factor.

 

The invention of Internet seems to have made this possible in the form of an online car auction. The format of an auction would truly depend upon the organizers. Whether it would be open to the general public or not depends upon the sole discretion of the organizers. They may decide to keep the auction as a closed event. This implies that only the invitees can participate in the auction and that it is not open to everyone in the general public.

 

For such auctions, the organizers issue formal invitations. To clarify this further, one may consider the example of a used car auction that should and would naturally be open only for the authorized auto dealers selling used cars. Other examples of closed auctions involve paid auctions that require the participants to pay a particular amount of money as the participation fee. The organizers of such paid auctions normally are either the government bodies or private liquidators.

 

Open car auctions are for anyone and everyone to participate. These auctions too imply certain guiding regulations upon the bidders. The main condition to partake is that the bidders necessarily are required to prove the fact that they possess all the resources required to bid on various vehicles presented at the event.

 

These proofs may include bank lines of credit of the bidder, income proofs, salary details in case of employed individuals, or any other document indicating the eligibility of the participant. These documents validate that the bidder has potential resources on hand and he/she can pay for the vehicle(s) acquired at the auction. Once these proofs are attested by the authorities, the bidder is admitted to the auction and is allowed to bid upon any vehicle.

 

Auto auctions can be conducted either as a profit making event or as a way to generate money for a social cause. If the former is the case, the auction normally aims at generating revenue for a government agency and levies participation fees as well. In the latter case, however, the process generally gets completed by a silent ballot. In this case, the highest bid submitted at the auction table is declared the as winner.

Irrespective of the type of bid and structure of the organizing body, the truth about auctions in general and auto auction in particular is the highest possibility of maximum gains for the bidder. 

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