Car
Auctions are great if you know them!
Buy Cheap at
Local Auctions
What Are Used Car Auction and Auto Auctions?
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(if you can't wait to get started!)
Avoid Car Auction Scams
Pick A Reliable Resource
Many websites sell you a used car auction listing (usually old) of cars and trucks at public car auctions. Unfortunately, these used car auctions usually are well attended by trigger-happy bidders who either have no idea of the value of the car nor the process (I was a victim once!). At such a car auction, you might (as I did), overpay for a low quality automobile (it did last me 3 years though, Ford Taurus, $1,900). Become an informed person, however, and you will be better prepared to come away with a slick deal. Buying a used car is not hard, but buying a used car cheap is. But, it does not have to be...not with the information below...
Check out these recently ended Infiniti (I love this maker) auctions in the Bay Area (as of October 2012):
| G35 - 2008 | 37,403 mi | $ 7,300 |
| QX56 - 2008 | 44,563 mi | $ 9,300 |
| M35 - 2011 | 9,479 mi | $ 9,500 |
| M35 - 2007 | 15,339 mi | $ 9,000 |
| G35 - 2005 | 32,403 mi | $ 2,600 |
| G35 - 2005 | 50,991 mi | $ 4,900 |
| G35 - 2005 | 25,190 mi | $ 4,500 |
| G35 - 2005 | 24,530 mi | $ 5,300 |
| M45 - 2011 | 12,594 mi | $ 9,000 |
| G35 - 2004 | 80,153 mi | $ 4,600 |
Look at that 5th entry: A 2005 G35 with about 33K miles for $2,600.
Drive
it
or Sell it
Profit from it!
 |
Cars shown here came from the auction listing company. These were sold at Calif. auctions. |
2001 Audi TT Quattro Roadster 34,790 miles, SOLD FOR: $1,900
A Little Background
Thousands of Americans, sadly and unfortunately now more than ever, default on their truck and car loans or lease payments. Their new or almost new cars and trucks get repossessed by the financial institutions and auctioned off quickly, because the cost of car storage for the banks is more expensive than their ability to try to make up the lost money (same with police auctions, etc.). Lucky people who have access to direct sources where such quality used cars and trucks are being sold find themselves overwhelmed by dirt cheap used car offers that look unbelievable to the average car buyer. This is real and is being taken advantage of by many car dealers who then mark up these cars and trucks and sell for an easy profit. You can too. If you don't want to sell, no problemo! Drive a bargain!
1998 BMW 528i Auto
Sedan 70,432 miles, SOLD FOR $1,700
You can save easily - $1,000 - $3,000+ BUT do a little homework first. Shoot from the hip, you lose, like me :-(
So why doesn't everyone buy a used car this way? Why do they buy at a dealer or check the Sunday classifieds? Because this information is a protected source of revenue for the majority of car dealerships and so is not advertised to the general public. However, a few companies have gathered enough information and access rights to be able to let their members access a multitude of the direct sources where one finds the next car or truck for up to 90% savings off the book value. And they will charge a small one-time access fee.
2004 BMW 745i Sedan
6,210 miles, SOLD FOR: $7,200
Watch out! Buyer's Premium, usually 5-10% is added on top of your bid.
Dealers would scoff at you should they see you bidding against them at these used car auctions. Don't let them. Find the car you want (at the auto auction), research book values. Set your budget. Locate nearby car auctions (from the sources given below) and off you go. Also check out government auctions (several websites listed here).
1999 BMW 528i Auto
Sedan 53,000 miles, SOLD FOR: $900 (!)
Search
Auction Listings By Zip Code
On the site that loads, Type your zip code in the field next to "Search
Your Car".
So, how are these traditional auctions conducted? See car auction tips for details. Typically, you would arrive at your local-area repossessed car auction early in the morning and inspect the used cars on the lot that are up for sale that day. Usually, many cars would have an opening bid from only $100 and if there are a limited number of attendees that day (and we have so many sources that it's virtually guaranteed that you will have almost no other bidders) then you are highly likely to get the used car or truck you want for a ridiculously low price when the actual bidding starts later that day!
2002 Dodge Grand
Caravan SPORT Minivan 32,360 miles, SOLD FOR: $1,900
Make sure to ask for Extended Warranty. Also ask for Vehicle History if they have it.
A surprising thing is that most of these auctions offer extended warranties on the used cars you buy, of course, for a small fee. But, in general, it's never a problem since many used cars and trucks are a few years old and in very good condition.How do you know whether the car you are about to buy is not a lemon? Your state's anti-lemon laws protect you from that. Please be sure to ask at the auction before you bid. Additionally, the auction listing company we have found for auction listings offers a complimentary CarFax™ VIN report before you start bidding for your peace of mind. In case you don't know, a Carfax report tells you the history of the car (how many accidents, whether flooded, etc.) and is a must these days before you buy any vehicle.
2002 Dodge Ram 2500
Truck 2WD Quad 35,683 miles, SOLD FOR: $2,800
Getting an extended warranty can only help. Ask to see the exclusions list first.
There are no hidden fees except standard fees such as title and registration. Luxury tax is not required since it will have already been paid for by the first owner on the used car you buy. Of course, there is Buyer's Premium.
2002 Dodge Ram 1500
Truck 4x4 Quad 28,617 miles, SOLD FOR: $3,100
Used Trucks or Used Cars: Bargains for the one who knows how to get them.
So, are you ready to find your dream car for a bargain?
What To Do
Now that you are better informed than most people who attend
the auctions, you need to get access to legitimate car
auction listings
of cheap used cars, used trucks, government property, real estate
foreclosures, and a whole lot more. There are three or four good
value-for-money companies; most others are either scams or knock-offs. One
of the good ones is listed below ($40 one-time fee,
others trick you with $1
trial (for 3 days or so) and charge every
month, not this vendor).
Good Luck!
Start by Searching by Zip Code
It is almost unbelievable that such good deals can still be had. But, if you don't check it out, it will be only your loss, and certainly someone else's gain!
