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If you have been looking for ways to buy a vehicle as cheap as possible, consider impounded car auction as the answer to your prayers. Out of all used auto auctions, police impounded car auctions have proven to be the cheapest, offering really amazing deals on a great variety of makes and models.

Here are quick facts. Every day all across the country government agencies seize vehicles whose owners defaulted on loan payment or got incarcerated. Due to the fact, that the seized vehicles require a lot of space and money for storage and maintenance, keeping them all would be unwise, to put it mildly. So, it is only natural that the police and other agencies want to get rid of the idle inventory as soon as possible.

Impounded car auctions (also called seized or repossessed car auctions) are organized regularly in different parts of the country in order to sell off the impounded vehicles at a nominal price. In other words, the beauty of these auctions is that the owner of the cars is not looking for great profits.

The auction normally starts with a symbolic sum, which, of course increases with the participants bidding on the vehicle, yet it is possible to buy a good running car at as low as 10% of the retail price. Ultimately, the final price depends on the number of people involved in the auction, but as a rule, the prices never go too high as everyone is looking to buy the cars cheaply.

One of the main problems with these car auctions is that you have to really hunt for them. Most of them come and go quietly, and you may never realize there was an auction next to you. This is because the organizers rarely go for a big advertising campaign, since impounded car auctions are not expected to bring huge profits.

So, if you want to locate the next auction in your area, you will need to contact your local government agencies, banks, lending institutions, etc. Chances are they will be able to provide you with the information you need. Classified ads of a local newspaper can occasionally help, too. However, keep in mind that the day and time of the auction can be shifted last moment, so you will need to confirm the schedule.

Alternatively, you can get access to a searchable online database which lists impounded car auctions in a timely manner all over the States. For a small one-time fee you will be able to avoid the hassle of a time-consuming search, getting all the information you need on a platter. Many such auction directories offer a money back guarantee, so you really do not have anything to lose.

Read my blog, dedicated to impounded car auctions – driving a nice cheap car, you will be glad you did!

I am thinking of buying a used car. what are the guidelines banks usually have on how long they will extend th loan. I know banks will usually go 72 months on new cars. But, what about used?

Question by theocroxs2001: is it a good idea to buy repossessed cars from those auctions?
I am 16 years old, times are extremely tough right now and i definitely need a car… im getting my license soon so i have been looking into options.. i cant spend like more than a couple thousand…. and someone told me that you can go to auctions where the gov/banks repossess cars and you can get nice cars that are new and have great mileage for cheap….i looked on some sites and saw like examples of their sales.. example was a mercedes 4 dr sedan sold for 2000.. from the year 2003…so what im asking is.. is it a good idea if youve done it before please tell me and if so do i have a good chance of getting a great car at a cheap price.. are all the cars pieces of shit? thanks…

Best answer:

Answer by eddie b
it is not a good idea. Im 17, i looked into that too when i was 16. The thing with auctions is that u cannot test the vehicle b4 u buy it so u dnt kno wat u get. I bought my first car at a dealer for 2000 dollars even, so just look around on websites like craigslist and check out lots of cars, turn them on and drive them, take your dao or uncle or sum adult with u, good luck

What do you think? Answer below!

was reading in the news..how they will send a person with a tow truck to take your vehicle at the very first signs of not paying your bills on time and one time it was over the dealership saying that there was a dispute over the interest rates of the loan.

why they would gain from giving out a loan and then repossessing the vehicle? how common ?

and when became this way? and how in Britain vs USA? what many do after their vehicle has been repossessed and why?

please explain what you can

thanks for your answers!

if reposesses the vehicle..how does the bank or finance company expect the person to pay off the remaining balance of the vehicle? and which percentage of the time..do they sell the vehicle at auction for a fraction of what it is worth? (why they do this too? and which percentage of the time do they just put it on their car lot and sell again as used ? why not do this?)

please explain what you can

and out of curiousity , if you know,,how this differs between Britain and the USA and why?

thanks for your answers!

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