So the time has come to purchase your new vehicle and money is a little in short supply. This is not a big problem and shouldn’t concern you. With the economy in the state that it’s in, it comes as no surprise that that folks are trying to save on their purchases as much as they can
We’ve all heard of the savings one can make at a police auto auction, but the question remains: Are they really as lucrative as many folks make them out to be.
Perhaps you can best answer this question by looking at the origin of autos sold at police auctions. The cars come from being confiscated from criminals or involvement in illegal activities. This simply imples that, compared to a financial institution, police departments don’t have any motivation to achieve high prices at the auction events. Buyers couldn’t ask for anything better than this. It’s simple to see why, because you are buying something from a seller that will sell at a suitable non-market related price.
So you like what you hear and the idea of autos at police auctions. So what should you do next?
The easiest thing you can do is to get in touch with your local police station. The possibility is of course always there that the first person you contact won’t have a aclue how to direct or assist you. If lady luck is on your side, you may actually be pointed in the right direction straight away and transferred to the relevant finance department. Get the information from these guys and go to the very next auction – really simple.
The general public also hear of the auction events through local newspapers, online announcements and other hardcopy advertising.
So once you know when the next event is held, you’ve only really done about 25% of the job. After having done this you shoul obtain a brochure which will list all the cars that will be sold by the police department. You can normally get this from the auctioneer. On this list you can identify a shortlist of vehicles that are of interest to you.
Once you have this list, focus on doing thorough research, background checks, inspections and valuations on these cars. This will really enable you to identify the autos that are worth your time to bid on, and the cars that aren’t. They golden rule is not to get emotionally exited at the auction event but rather let your actions be guided by your research work. Following these rules will result in you saving thousands and paying less than what you originally hoped for!
