But that doesn’t mean there still aren’t good deals to be had at local auctions, because as intimidating as it may sound, there’s a reason dedicated bidders still show up to these things every week. You just have to remain skeptical and attentive if you want to take home the right ride, because you never know what might show up, and by using these 10 tips, you might land a gem.
Several different federal agencies hold government auctions. The General Services Administration is the granddaddy of them all, because it sells on behalf of other departments. When a federal agency no longer needs something — say, a pickup truck — it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits. If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it.
With the budget and loan in place, you should start thinking about the auction’s inventory of cars and vehicles. Moms may need more seats for kids, or business owners may need trucks for hauling and transportation. Be sure to inspect the inventory closely. Do not be afraid to start the ignition, test the heating and cooling, check the seat controls, and more.
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To bid, you'll mostly need to go to an auction house on the day and bid in person. However, some auction houses now offer live internet or telephone bidding. You'll have to register to bid with the auction house, whether you're bidding in person or not. You should be able to find out when the next police auction will be held by visiting the auction house's website.
Cars at public auctions are often those that wouldn't sell at wholesale dealer auctions. Yes, some are flood vehicles, and Hurricane Irene should still be fresh in your mind. Some are cars quickly reconditioned in dealership shops to fill in slow periods when there's otherwise little work to be done. And many are just flat out junk. "A car that goes across the block at a public auction that isn't spewing smoke is often packed with thick racing oil to ensure it doesn't," Lang continues. "Everything at a public auction looks shiny, but shiny doesn't mean much about the quality of the car."
Policeauctions.com is run by a private company and is not affiliated with the government. It provides information and links to government-run auctions, but the site itself is part of the wholesale liquidation auction market. Items are sold as is and sometimes there are fees. You have to register to bid and get information, but it doesn’t cost anything to join the site.
Easy Payment: Pay manually or use Auto Pay! Manual payment allows you to choose which card you want to use on every transaction. Auto Pay is set up through your account details. By keeping a valid payment method on file, your auctions will be processed automatically so that you never miss a payment! Special discounts are available to customers choosing Auto Pay.