Every day thousands of Americans default on their car loans or lease payments, and as a result, the financial institutions seize their cars. Because the cost of storing and maintaining thousands of cars far outweighs the banks' ability to make their money back, the cars, trucks and SUVs are auctioned off quickly.
Government vehicles are also sold at auctions. So this means cars and trucks that were used in the Federal Government, state governments, police and sheriff departments, fire and emergency departments, and non-profit organizations are sold for up to 80% OFF their retail value.
Government agencies take exceptional care of their vehicles, and most come with stamped logbooks, complete with service history. Many are still under manufacturer’s warranty and only have 25,000 - 40,000 miles on them.
The quickest and easiest way to find one of these auctions in your area is to use an auction database. There are quite a few online, but not all were created equal. Based on user experience there are a few sites worth using:
Car-Auctions.com is a WYSIWYG (What You See Is What You Get) site. For $29.99 you get unlimited access to their database of car auctions without a whole lot of other bells and whistles.
Seize Cars.com is another good database. For a one-time fee of $49, you get unlimited access to all car and truck auctions, as well as auctions for boats and houses and electronics, etc. So, if you want to buy a car AND a family boat, this is a good choice.
Gov-Auctions.org was named America’s most trusted and largest resource for Government and police auctions. They also charge $49 for unlimited access to car auctions, as well as boats, homes, electronics auctions, etc. But they offer some things the others don’t.
For one, they have real 24/7 customer support. If you have a question – a real human being gets back to you with an answer. Pretty rare nowadays.
They also have a free auction tutorial which is not offered anywhere else. If you’re new to auctions, this tutorial will explain, step-by-step, how to get the car you want for the price you want.
Gov-Auctions.org also has a
free car loan service where you can receive instant car loan offers with the best rates on the market, without any of the usual hassles. A definite time-saver.
Happy car shopping.