The time has come. The family is nagging you for that new car. However, finances are limited and we know money is not growing on trees. This is not a big problem and shouldn’t concern you. It’s definitely not strange to see people saving as much as possibly can on their purchases with the prevaling economic situation
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.
You can get a better idea on the value of these auction by looking at the structure the auctions and origin & types of auto available at police auctions. These cars are generally vehicles which have been confiscated due to criminal activity. This simply means that police departments do not have the same objectives as creditor institutions who wish to attain maximum prices at these auction events. This is a perfect world for prospective buyer as you’re dealing with a seller that doesn’t really need to sell a product at market value.
So the idea of these police auto auctions seems attractive to you. So what should you do next?
The least complicated way to start is by contacting your local police department for the information. The odds are pretty good that the first person you’re speaking to won’t really know how to help you. Although not entirely impossible, consider yourself lucky if you are transferred right away to a relevant department that will have the information you need. Don’t overcompliacte things. Start simply by getting the list of dates and going to the next auction.
The general public also hear of the auction events through local newspapers, online announcements and other hardcopy advertising.
Now that you know the auction dates, really only about fifteen to 20% of your work is done. Your next move would be to get a catalogue from the auctioneering company which will list all the vehicles up for sale at the event. Using this catalogue you will be able to pinpoint the cars that you’ll be interested in.
After you obtained this list, focus your energy on doing your homework on these vehicles in the form of inspections, valuation calculations and in-depth research. This will help you identify the cars that are worthwhile bidding for and the ones 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. If you follow this particular ‘blueprint’ you will purchase your next vehicle for significantly less than what you intended!
