Maybe you are already sold on the fact that there are extraordinary bargains to be had at police vehicle auctions. What you may need is just merely a proven strategy which you can implement to turn the tide and start making some money at these auctions. Follow these following few steps and you’ll be well on your way to getting what you want.
Inspecting the Vehicle
This is a gift from the police department – the opportunity to inspect the ins and outs of the car. Make use if it!! Most auctioneers won’t actually allow you to drive the car for a ‘test run’, but you will at least be in a position to inspect the engine and look for any troubling mechanical signs.
The VI number
What causes most people to land in the hot boiling water of trouble is because they overlook the basics of the industry. Without any significant monetary outlay you’ll be able to obtain a basic report on the ‘life’ and history of the car, using its VI number. This report will give you exactly the sort of information you need to determine if you want to even buy the car at police auction
Researching the Auto’s Title
Even though the police department does do some work to make sure there is no outstanding claims on the title of the car, they by no means do a very thorough job. Best to check this yourself as you do not want to sit with a financing house repossessing the car you just bought.
Valuing the Vehicle
If you enter the auction without knowing what a reasonable market valuation of the vehicle would, you are setting yourself up for serious trouble. It’s sort of like starting a camp fire completely covered in kerosene. If you don’t have a benchmark valuation handy for the car, the chances are very good that you will bid until you win. This strategy will lead you to buying the car at a price much more than what it’s worth. Therefore make sure to know this value and don’t bid a cent more than it.
With the above information you’ll generally be well prepared on the police vehicle auction day. Alot of folks get distracted by the events of the day. This is particularly the case with live public auction events. The very best advice anyone can give is to stay relaxed and stick to your strategy. Nobody usually does better than the quiet relaxed bidder who normally walks away with the winnings.
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