purchase to a civilian government or car auction can be a good opportunity to purchase a quality used car or other assets. Like most things, but information is crucial. Below are some frequently used terms that you find helpful if you are interested in buying a car at auction.
* Off-lease: Refers to the vehicles at a leasing company at the end of the lease. Closed auctions are usually the only place for leasing companies to eliminate their large quantities of end-of-lease vehicles are returned. The conditions of a lease is usually a restriction on the number of miles driven and require regular maintenance, so they are good bets. In general, off-lease vehicles are within 2-3 years, and often have a portion of the factory warranty.
* Off-hire: Applies to the deluge of late-models, which replaced (generally once a year) from the major car rental agencies. How leasing companies and companies in the rule to auto auctions to sell their used inventory. Although these vehicles are usually well maintained and is only for one year, can run fast on a car. In addition, optional features for rental cars are usually limited to an air conditioning and automatic transmission. Use of rental cars can be rough (think the last time you rented a car), so that it is safe to assume that every car will be available from a variety of drivers in a variety of driving conditions.
* Company / fleet cars: companies of different sizes own cars, trucks and vans, which they often hold for only two to five years. (I normally four to five year old Ford F-150 truck, which I buy from a Northern California construction company.) These vehicles are usually well maintained, but as car rental, often no more than the most basic options. As rents, use of company cars vary from the executive sedan driven slowly and carefully at the work truck that regularly increases, curbs and mountains or abused in city traffic.
* Repossessed cars: vehicles repossessed by financial institutions, banks and leasing companies are usually disposed of auction. (I had a beautiful Mercedes Benz 560 SL withdrawn years ago - someone probably has a lot to that auction!) Repossessed vehicles can sell little less, because the financial institution is the only real motivation is to the amount owed on the car, which is significantly less than the market value of the vehicle. The condition of the cars can be marginal (if the owner can not pay the loan, repairs could also be put off). It may also be damage caused by the driver loses the car, so examine them carefully.
* Trade-ins: car inventory that is aging or not met, their profile (eg an old Chevrolet Malibu was traded that for a new BMW M5 at a BMW dealer). Trade-in cars can be useful extras and sometimes even valuable after market modifications. The general condition of the vehicles vary, so check carefully. Some, though not many, may have factory or extended warranty period yet.
Many laws require dealers to disclose if a car has a major mechanical problems or was previously damaged to the extent that it mut as "salvage," "" "junk", or "only for export. "There are special auctions for these types of vehicles (sold primarily by insurance) and if you have access to reasonably priced repair services, you can find great deals here.
As always, your primary ally. Arm yourself with good information before you head to the auctions and you will find many great offers.
The author is a long time-course head, bought and sold at auction for
Years and leads on the blog
Government Car Auctions his free car auction in
his website: http://www.Seized-Auto-Info.com
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