"What You MUST Know Before Subscribing To And Bidding On Auction Sites"
Have you ever been scammed by a online seized vehicle auction site that promised you more great deals than anyone else? The promotion was great but in the end, after they had your money, there were very few real deals on vehicles that met your needs.
I have tried out many repossessed, police seized and government auction sites that I have found online. In most cases, the sites did not live up to the hype. Most seem to be looking for the quick sale and just don't have the inventory they promise. To me that is a scam. Most of these sites refunded the money when I asked for it, but some didn't even live up to that promise.
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 know first hand that you can purchase a vehicle from an online auction site for pennies on the dollar if you plan, research, stick with your numbers and be patient. There are 3 or 4 sites that are far superior to the rest and will have your next car 'ready for you' in the next few weeks. They have lots of inventory. They provide training and support and above all teach you to find the real deals. Your next car is only a few clicks away once you know how these sites work.
Rule #1 regarding online auction sites, and auctions in general is to start with a solid plan. In other words research the vehicle you are interested in at sites like Edmunds or Kelley Blue Book. These sites will give you all the information you need to determine value. Know your car inside and out and how options, mileage and condition effect market value. They stick with what you learned. If you have researched a Honda, don't start bidding on a Hummer just because it seems to be a good deal. You have to absolutely know a great deal when you see one. Once you complete the research you will be efficient and confident and that will lead to better bidding and a great buy.
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. - 29952
Have you ever been scammed by a online seized vehicle auction site that promised you more great deals than anyone else? The promotion was great but in the end, after they had your money, there were very few real deals on vehicles that met your needs.
I have tried out many repossessed, police seized and government auction sites that I have found online. In most cases, the sites did not live up to the hype. Most seem to be looking for the quick sale and just don't have the inventory they promise. To me that is a scam. Most of these sites refunded the money when I asked for it, but some didn't even live up to that promise.
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 know first hand that you can purchase a vehicle from an online auction site for pennies on the dollar if you plan, research, stick with your numbers and be patient. There are 3 or 4 sites that are far superior to the rest and will have your next car 'ready for you' in the next few weeks. They have lots of inventory. They provide training and support and above all teach you to find the real deals. Your next car is only a few clicks away once you know how these sites work.
Rule #1 regarding online auction sites, and auctions in general is to start with a solid plan. In other words research the vehicle you are interested in at sites like Edmunds or Kelley Blue Book. These sites will give you all the information you need to determine value. Know your car inside and out and how options, mileage and condition effect market value. They stick with what you learned. If you have researched a Honda, don't start bidding on a Hummer just because it seems to be a good deal. You have to absolutely know a great deal when you see one. Once you complete the research you will be efficient and confident and that will lead to better bidding and a great buy.
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. - 29952
About the Author:
Armed with this advice, read about the 4 best government auto auction sites you should consider when conducting your search. I have rated several seized vehicle auctions here that rated 4 out of 5 stars or better
