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Government And Public Auto Auctions Buy Vehicles And Luxury Cars Cheap
* Have you ever dreamed of owning one of those high end luxury cars but just couldn't fit it into your budget?
* Wouldn't you like to impress your friends and neighbors when you drive up in that Lexus, BMW Mercedes, Cadillac, a customized SUV or Hummer?
* Now you can.
* How, you ask?
* Answer: Government and Public Auto Auctions!
* Each year the federal government sells billions of dollars of seized and forfeited surplus. A large chunkof this is vehicles. Here you can find the high end luxury cars (BMW, Lexus, Cadillac, Mercedes, Ferrari, just to name few) and even custom made Hummer Limousines. You can even find Motorhomes and Motorcycles.
* Its an enormous cost to store these vehicles so the government will hold auctions throughout the year to get rid of theseas fast as they can even if the vehicle brings a fraction of what its worth. This is where you can grab a bargain.
* These vehicles are usually seized and confiscated from illegal drug dealers and other criminal activity. As you know these people don't drive around in cheap compact cars. They drive the expensive high end luxury cars SUV's and custom made vehicles.
* Incredible deals are waiting for buyers just like you at auctions held year round.
* Auctions can consist of one to two or more lanes. They can all be auctioning off vehicles at the sametime and it gets quite noisy. There's a lot of moving and crowding around the auction block. The auctioneer will usually have 1 or 2 assistants down on the auction block helping him pick out whose bidding. If you have a question ask one of them. They will help you. Sometimes its hard to understand the auctioneers words.
* The auction goes at a fairly quick pace. Most are vehicles are sold in under 5 mins. If you plan on biddingget near the assistant or auctioneer and signal (head nod, hand movement) to indicate you want to get in onthe bidding. If someone bids against you, signal again.
* Don't jump in on the first figure the auctioneer throws out. He knows what the seller is asking for the vehicleso he'll start asking for bids above that. If he can catch someone off guard and get the bidding started high all the more better for him. He probably gets a commission on each
vehicle sold and the higher the price the more money in his pocket.
* Unless a vehicle has a minimum set price you can start the bidding as low as you want. If the bidding is going lets say $100 increments and you want to bid half that or even a quarter, tell one of the assistants or auctioneer.
* Some Do's: * I : If this is your first time at a auto auction just go look around and observe the operation before buying. * II : Inspect the vehicle prior to the sale. * III : Read all the rules and regulations. * IV : Find out what fees are involved. * V : Check any warranties or guarantees. * VI : If possible buy at a day sale. You can inspect the vehicle better. * VII : Set a price you are willing to pay for a vehicle and stick to it.
* Some Don'ts: * I : Buy a vehicle unless you are convinced it is reliable. You don't want to sink money into a lemon. * II :Get into a bidding war with another buyer and bid way over your head. * III : Go over your budget. * IV : Get over anxious.
* Auto auctions can be fun but they can also be stressful. To make it more fun and rewarding go prepared and stick to your plan.
* Each auction has its own method of operating but the basics are pretty much the same.
* We'll look at:
I : Warning signs and tips on what to look for when checking out the vehicles prior to the sale.
II : General Auction Rules and Regulations: These may vary from auction to auction.
III : What these terms mean: a : As Is: b : Buyers Premium: c : Minimum Bid: d : Opening Bid: e : Absolute Auction: f : Reserve Auction: g : Sealed Bid Auctions: h : Arbitrator:
* There are a number of different auctions.
* You have: a : Federal Government Fleet and Seizure Auctions: b : GSA (General Services Administration) Fleet Auctions: c : State and Local Government: Police, Sheriff, City and County Fleet Vehicles: d : Public Auctions: e : On-Line Auctions:
* Lamar Deane is an independent auto dealer knowledgeable in car sales and auto auctions. Learn valuable tips and the terminology and phrases used at auto auctions by visiting http://www.music-mkr.com/carauction.html
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