Buying a car at auctions organized by government is becoming more famous.
For discount as low as 95%, you can have an SUV or any other automobile in any of the government car auctions.
The economic downturn notwithstanding, these auction venues continue to record high turnout of people.
Buying government seized cars now offer people a glimmer of hope.
For those who hitherto had given up hope of buying an SUV, this might be one in a million opportunity.
Every automobile put up for sale at government car auctions are not really as old or bad as people assume.
A good number of them are govt seized cars; seized because the owners defaulted in repayment of loans.
Some are even seized because the owners of such violated some traffic rules.
When the stipulated time given to a lien holder expires, the automobiles are then brought to the sale venues and sold below normal values.
By the time a sale is concluded, one can get a luxury auto for as low as 95% below the normal market value.
Experienced bidders always try to find out when and where the next govt car auctions will hold.
This gives a kind of advantage to them when the actual bid process begins.
Not many people get to know the venue and time of the next auction; that is why attendees are always few.
The fewer the number of bidders in a venue, the cheaper or lower the discount.
In case you are skeptical about the state of these autos, it would interest you to know that VIN checks are usually conducted on them.
Bidders are also afforded opportunities to view these automobiles at close range.
Buying government seized automobiles have become more competitive these days, with dealers joining the train.
The possibility of buying cheap, at as low as 95% below normal price makes it even more attractive.
As the harsh economic conditions continue to bite even harder, we are likely going to witness more loan defaulters.
There will no doubt be more auctions coming up.