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Sunday, September 6, 2009

How to Buy Repossessed Vehicle in Manitoba

By Davion Wong

Each year, there are about hundreds of cars in Manitoba that are being seized by the government. These vehicles will be auctioned to the public and about 95 percent of the original price will be taken off from their original price. Believe it or not, the auction bid usually starts at $100 and you will notice that if you are going to buy repossessed vehicle in Manitoba.

Not only seized cars are sold at Manitoba repossessed vehicle auctions. Since the government needs to dispose a number of used cars every year, you can also take the chance to own one of those signature vehicles. People like you who need a personal means of transportation, car dealers and so on will find used vehicles that are still in good condition, and they can resell them to earn extra income.

It's not difficult to participate in auctions in Manitoba. First and foremost, try browsing for information online. There are numerous sites on the net that give away details on upcoming auctions. Manitoba itself has an official auction site where the schedule and location of the next public sale is posted. You can register from this site or you may opt to go to their office to do it personally to ensure that there will be faster results.

When you come to their office in person, ask the person in charge for an application form. Make sure that you have your driver's license with you as you might be required to present it to them before your application can be honored. After submitting the application form, a bidder number will be assigned to you. Auctioneers usually release auction catalogs from time to time and you can subscribe if you want to be regularly updated.

If you are not yet ready to purchase but have plans to do so in the future, the best thing that you can do is attend biddings as an observer. See how it goes so that next time around, you will know what to do.

If you cannot attend the actual bidding, there are pre-auction events that will allow you to buy repossessed cars in Manitoba at pre-auctioned prices. You will also get the complete details of these pre-auction events online or from the auction office itself.

As much as possible, go to the auction on the first day. You will find the best cars then. Big buyers normally come to participate in the bidding during the first day and sweep up the finest cars on display. Thus, if you will go there on the second day onwards, the best vehicles may already be sold.

If you win the bidding and allowed to buy a repossessed vehicle in Manitoba, you will be asked to deposit an amount of $500. You can pay that via bank transfer, BPAY, EFT or bank check. You can pay the balance within 24 hours. You cannot bring home the vehicle until the payment enters the account of the auctioneer. - 21396

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