Every month thousands of vehicles are seized by government law enforcement agencies, banks and other loan companies in foreclosure actions. These cars are too costly to keep in storage and so they are sent to be auctioned. Some of these vehicle can be picked up at low cost from government car auctions.



The purpose of seizing vehicles is to raise cash quickly for the various agencies, so they are quickly auctioned to raise funds. Storing these cars for any length of time would cost additional money, and the car would continue to depreciate in value. The objective is to auction the car as quickly as possible to retrieve some return of the money from them.

Luckily for you these auctions are open to the public, so anyone can bid on and secure a car fur much less than its true. Prices at government car auctions have been known to start as low as $100. But not everyone is aware that these car auctions are even taking place, and only a select few switched on bidders were securuing these bargains for themselves.

Government car auctions don't advetise extensively, so it can be difficult to find out when and where they are running. Small ads for these car auctions will someimes appear in the local press, but you would need to carefully check the press every day or you will probably miss them. It is because there is no widespread advertising of these government auctions that you can pick up a car cheaply. Other assets may also be auctioned at the same time, including seized homes and property, so it can prove useful to know when these auctions are taking place.

Even though you could save a subatantial amount of money, you should always do proper research before going to a government car auction. It can be very easy to get caught up in bidding fever, especially if there is a particular type of car that you really want. You will want to ensure that in the heat of bidding, that you don't actually end up paying more than the car is worth. You should therefore always carry out research on the value of a vehicle before the car auction starts and set yourself a top price you are prepared to pay. Whatever happens at the actual seized car auction, don't bid over this price. Keep your nerve as it is likely that another similar car will turn up at another seized car auction soon. Remember that thousands of vehicles are being seized every month.

Researching when and where these auctions take place can mean a heavy workload. Seized assets including cars and property might turn up at an auction in a different town, or even different state from their place of seizure. There are many government departments each holding their own auctions. As well as this there are many different banks and other loan companies, who will also hold their auctions seperately. Sometimes seized asset auctions are also held 'on-site'. This is when the items being auctioned are too large to be moved to the auction house. For this type of auction, the auctioneer goes to the company and conducts the auction at their premises.

If you are keen on geting a bargain on your next car purchase, or even buy a property at below market value as a property investor, you should seriously consider joining an online government auction site that collates all the details of government and foreclosure auctions for you. It may cost $40 or $50 to join a site like this, but it will save you lots of time trying to hunt down these auctions yourself. Just think that the bargain you will secure will be worth much more to you than the membership fee. As well as that, think about the time researching the different auctions would save you.