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. If you follow these next steps (4 phases) you will have started your successful journey to auction riches.
Inspection of 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
Where most people get into trouble is when they overlook the fundementals. If you need an overview report on the auto’s history (on issues such as if it’s been stolen, damaged, etc), you can obtain this with the vehicles registration number at no cost. 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
The 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. It’s a very good idea to look this up by yourself as you don’t want the bank to seize the vehicle you just purchased.
Valuing the Vehicle
Entering into a bidding round at an auction for a vehicle without a reliable valuation is pretty much an act of suicide. It’s almost like cycling downhill on your bike without any functional brake system. If you do not have any idea or estimation on the valuation of the vehicle, you will usually bid until you win. Frequently this will be much more than what it’s actually worth. Therefore it’s imperative that you have a good ‘handle’ on the valuation so to stop you not bidding a cent more than its fair value.
With the above information you’ll generally be well prepared on the police vehicle auction day. It’s not uncommon for people to get completely caught up with the events at the auction - very true in particular with live outcry auctions. The very best advice anyone can give is to stay relaxed and stick to your strategy. The most successful bidders the ones that remain relaxed and collected. With their fixed strategy they usually walk away as the winners.
Tags: car auctions, police auctions, police vehicle auctions, vehicle auctions