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By Martin Ignacio Reimer
The auction of repossessed cars is probably not what you might be thinking. If you are thinking about auctions of luxurious Lamborghini cars or even a MC hammer car then you are so wrong.
What is difference between a normal auction and a repossessed car auction then? Simple, the objective and the price. See the majority of auctions are made to get as much money possible from the richest bidder while the repo car auction objective is to sell the car as fast as possible, because there are a large number of cars that need to sold quickly. That is the reason why the sell these vehicles at whatever price the buyer wants because they really want to get rid of those vehicles as soon as possible.
A few advices before purchasing you car:
1- Always check the car before: Is incredible how many people do not do that. Fortunately the government auctions allow the potential buyers to inspect a vehicle before the bids begin.
2- Set a budget and stick to it: Is important that despite the incredible discounts you can find these auctions you should have a established budget and don´t surpass it.
How much money can you save from these car auctions? You can realistically expect a save of 50% of the retail value some times even more. Some people just like to make a living for themselves by buying those cars and then resell it for a profit y some others just want a new car at an affordable price. However that decision is yours.
The auction of repossessed cars is probably not what you might be thinking. If you are thinking about auctions of luxurious Lamborghini cars or even a MC hammer car then you are so wrong.
What is difference between a normal auction and a repossessed car auction then? Simple, the objective and the price. See the majority of auctions are made to get as much money possible from the richest bidder while the repo car auction objective is to sell the car as fast as possible, because there are a large number of cars that need to sold quickly. That is the reason why the sell these vehicles at whatever price the buyer wants because they really want to get rid of those vehicles as soon as possible.
A few advices before purchasing you car:
1- Always check the car before: Is incredible how many people do not do that. Fortunately the government auctions allow the potential buyers to inspect a vehicle before the bids begin.
2- Set a budget and stick to it: Is important that despite the incredible discounts you can find these auctions you should have a established budget and don´t surpass it.
How much money can you save from these car auctions? You can realistically expect a save of 50% of the retail value some times even more. Some people just like to make a living for themselves by buying those cars and then resell it for a profit y some others just want a new car at an affordable price. However that decision is yours.
