A Repossessed Car Auction - How to Buy Repossessed Cars in Your Area

Purchasing a car can prove to be a laborious and costly process. Many people do not have the financial resources to buy a new car, and for them purchasing repossessed cars is a viable option. There are two ways in which a person can buy a repossessed car. One is by approaching the dealers who sell repossessed cars or used car lots where buy-here-pay-here scheme in place. In this option you might have to shell out a few bucks more than the book value of the car mentioned in the Kelly blue book. The second option and a financially more profitable one, is that of buying directly from used car auctions organized by government agencies. Here a person can get cars at significantly lower prices, even as much as 80% -90% less than the car's actual value.

One drawback of buying cars from repossessed car auctions is that the cars need to be bought "as-is". This implies that if faults are detected after you purchase the car, it is your responsibility to have them repaired. Some 3rd party vendors or dealerships might offer you after-market warranties, but these are expensive options. Also many car parts might not be covered under this warranty. So, it is better to avoid these and instead focus on carefully doing the homework to ensure that a car in good condition is being bought at the auction. This would really make the car purchase a good investment.

Now how can a person locate an auction for repossessed cars that is being held in the locality? The task is not that easy, as the frequency of government auctions is not that high. While dealerships schedule the car auctions from time to time, a government car auction might be held just once or twice on a monthly basis. Again this number might be even lower if the place is not too conducive for organizing an auction or if there is inadequate demand for car purchase in the locality. The best way to keep a track of the repossessed car auctions that are held in your area is by closely following the local newspapers.

Announcements are generally made before repossessed car auctions are held and these are published in the local newspapers and magazines. You can ring up the county or local police department as they keep information regarding the venues and the dates for the upcoming auctions. Searching on the internet might also be tried out and you can find useful information over there too.