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Question by Frekwii: Car Auctions: are they a good way to get a nice car at a low price?
I need a new car but I cannot afford much of a car payment at this time. A friend suggested that I try a car auction. I know very little about how a car auction works but I am “researching”. Is this really a good way to go or are there too many risk for someone who has not a clue about a car engine.

Best answer:

Answer by Daniel
It’s not something you should do if you’re not car savvy

Know better? Leave your own answer in the comments!

Okay I’m a girl. I’m buying my first car and I have no clue about cars. I’m on a budget so I can’t get anything new so I’m going with used what are some things I need to know about cars like how many miles are too many miles, oil and stuff. Just some tips on what to look for so I don’t get ripped off.

Buying a repossessed car is a great way to claim a quality motor vehicle at a sometimes incredible price. The best way to buy a repossessed car is at repossessed car auctions, these car auctions sell cars at such a low price that it can be a dream come true for potential car owner who would have paid a much higher price buying the vehicle at the dealership.

Could all this just hype? Are we really able to save big dollars buying at the auctions? I mean we have all heard the stories, like getting a car for 0 but could this be a reality and are those stories more of a flash in the pan than the everyday norm? If it is really true many of us would be saying where can I sign up to get a car from these repossessed car auctions?

Lets take a look at car repossession and why these cars go to auction. To begin with what is a repossessed car? Well to put it simply it is a car that has been repossessed by the bank, most of the time this occurs when the owner has defaulted on their car loan or lease repayments. When a car is repossessed it is normally held normally for a period of time to give the owner a chance  to catch up on payments, if the owner can not catch up the bank takes full ownership of the vehicle.

The main reason repossessed cars are so cheap these days is not because the car is a wreck, in a bad mechanical state nor that it is a bad brand name for that matter, but it is because of the shear number of cars that are repossessed. The storing and maintenance of these cars is huge and it lowers the price considerably for you. Car repossession is on the increase every year.

I know what you are thinking, well if they are that cheap why doesn’t everyone buy their cars this way?

There are a couple of reasons why

1. Ignorance – Basically people’s lack of viable information in regards to these kinds of auctions and also they just have no idea or clue even where you would go about finding information or an auction for that matter.

2. Car Dealers – Yes you read that right they don’t want you to know or even get a glimpse of these kinds of auctions. They are constantly buying these cars at auction for resale. Often times making thousands of dollars on each car.

3. Fear – We are fickle but also we want security. I mean the words repossessed car auctions screams at you something must be wrong with the cars, only problem with them is their owner. The thing is with the right homework completed and some good research you are well on your way to buying brand new hardly used cars for under 0.

I’ve already paid ,612 on a Mitsubishi Montero Limited(i still owe ,000-cause blah blah blah i didnt pay it off early)So my engine cracked in the middle of the highway- My mechanic said i’ll need an engine, and maybe a transmission too..(UGGHHHH) it will cost 00 to fix it! But maybe i will just need an engine(so maybe just 00)??!!

I live out of city limits so i drive a total of 80 miles a day just to send my kid to school and back(private school). Plus i need a vehicle so i can pay for life… A bus is not an option for me being that it would take about 8 hours total to get to school and back. Thank God i only work weekends, but bus issue same thing 8 hours total-I work 16 hrs a day Friday &Saturday only so the bus thing physically impossible…

Im totally dumb founded.. i have no clue, in the meantime, my kid has to miss school today cause no transportation….

I worry about the future.. Cause if i get a repo on my record, i feel like i wont be able to get a house or even an apartment if i ever need to(shaky marriage).. On top of that what if my child ever needs help on a school loan, i want to be able to help. Should i risk my credit which i’ve worked so hard to get fixed.

P.s. while i was in college i got my car repo’d but i was able to get it back and pay it off the next day (it was only 00 to pay it off).

I would really apppreciate any help from any people maybe who have gone thru this before.. What happened to your credit? What should i do.

My family& friends say get it repo’d, cause its dead. And just to buy a brand new cheap car (like ,000).. I say get the new car, and pay off the ,000 and i’ll end of paying about 0 a month for the new car plus the dead truck-which doesnt exist any more? I’ll have to make these payments for about 3 yrs.. Then its over between me and the truck.

Im confused, if anybody out there can help me, i would really appreciate it.
While im getting my truck fixed (if i decide it will cost about 0 a week for a cheap rental.. On top of the other expenses(if i decide to get it fixed).

My current car is having some issues and I think its about time to look for another vehicle. Im a recent college graduate that is not making a lot of money and Im having a hard time finding a job that pays good.

I need to get a new car ASAP before my current car dies on me. I would like to know exactly where Police Auctions of repossed-cars are being held at in the Pittsburgh, PA area??? I also would like to know how I can become eligible to purchase vehicles from a Police Auction???? Also, I would like to know how much it would cost for me to register with a Police Auction distribution center????

I have no clue how any of this stuff works and would be extremely grateful to any one who can provide this Information. I really need precise facts about this auction and somebody to actually guide me in the right direction. Im on my own for the first time and having issues with my car. I need factual Information on how to go about this and fast. I just need the basics on where to find a police auction, how much its going to cost for me to register, and last but not least, how do I register with a police auction?????????

I would appreciate any help in achieving this goal, I need a car before my current car dies and I loose my job because I don’t have a car to get to work. PLEASE HELP!!!!\

Thanks in advance to all you who helped me in advance!!! This Information will be greatly appreciated!!!

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