Government Auto Auctions - Are Legitimate Online Auction Sites Out There?
"Do NOT Subscribe to and Bid on Online Government Auto Auctions until you read this"
I got scammed by a government auto auction site that promised the world and delivered much less. The cost of the membership at $49.95 for one year was not a big deal, but in the end there were very few vehicles that met my criteria.
If there is a government auto, seized vehicle, or police auction site out there that I have not tried, I am not aware of it. Most of the sites I have tried are not worth the subscription fee. Many didn't deliver or stand behind their claims.
The good news is that legitimate car auction sites are out there. You can find huge bargains, but it will take some work on your part. Here's how to begin your search intelligently.
I can vouch for the fact that you can purchase a used or seized car from an online auction site for a fraction of its' market value if you first DO the research, DO NOT stray from your numbers and most importantly BE PATIENT for the best deal. Also...and I ask that you take my word for it...stick to the top 3 or 4 sites that will find and sell you your next great car. They have more auctions, more vehicles and more support and training. They run an honest site and if you keep your eyes open and remain patient your dream car will become available at a great bargain. Not matter what you are looking for it is out there, trust me.
You will never find that great deal at an online auto auction unless you know a deal when you see one. Do the research on a car model you are interested in and know that car like the back of your hand. How does mileage affect value? What are each of the options worth? What about condition? Once you get this information from sources like Kelley Blue Book or Edmunds, stick to the numbers when you start bidding. Don't bid beyond your target price. Your deal is out there if and only if you are patient. If you need a car today, don't buy it at an auction unless you do your research first.
When you've determined a fair value for the car you want, take that information and see if similar cars have sold for that price at one of the top auction sites. This sanity check will tell you if you have made sound decisions about the price you want to pay. This can often translate into 60% to 70% or more off blue book value. Then, if necessary, adjust and set a goal price for your search and stick to it. Stick to your goals as long as they are reasonable. There is no reason to sway from your research. Don't overbid and don't chase auctions. - 21396
I got scammed by a government auto auction site that promised the world and delivered much less. The cost of the membership at $49.95 for one year was not a big deal, but in the end there were very few vehicles that met my criteria.
If there is a government auto, seized vehicle, or police auction site out there that I have not tried, I am not aware of it. Most of the sites I have tried are not worth the subscription fee. Many didn't deliver or stand behind their claims.
The good news is that legitimate car auction sites are out there. You can find huge bargains, but it will take some work on your part. Here's how to begin your search intelligently.
I can vouch for the fact that you can purchase a used or seized car from an online auction site for a fraction of its' market value if you first DO the research, DO NOT stray from your numbers and most importantly BE PATIENT for the best deal. Also...and I ask that you take my word for it...stick to the top 3 or 4 sites that will find and sell you your next great car. They have more auctions, more vehicles and more support and training. They run an honest site and if you keep your eyes open and remain patient your dream car will become available at a great bargain. Not matter what you are looking for it is out there, trust me.
You will never find that great deal at an online auto auction unless you know a deal when you see one. Do the research on a car model you are interested in and know that car like the back of your hand. How does mileage affect value? What are each of the options worth? What about condition? Once you get this information from sources like Kelley Blue Book or Edmunds, stick to the numbers when you start bidding. Don't bid beyond your target price. Your deal is out there if and only if you are patient. If you need a car today, don't buy it at an auction unless you do your research first.
When you've determined a fair value for the car you want, take that information and see if similar cars have sold for that price at one of the top auction sites. This sanity check will tell you if you have made sound decisions about the price you want to pay. This can often translate into 60% to 70% or more off blue book value. Then, if necessary, adjust and set a goal price for your search and stick to it. Stick to your goals as long as they are reasonable. There is no reason to sway from your research. Don't overbid and don't chase auctions. - 21396
About the Author:
Looking to find the best deal at a seized vehicle auction, then visit www.i-consumer.org/auction-ratings to find the best advice on automotive auctions.
posted by X - Men @ 4:08 AM
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