By: Gov Auctions | 30 September 2012
Where Do Auction Vehicles Come From?
Auction vehicles can be some of the best deals on the market, and they come from pretty much everywhere. The following is a brief look at a few of the main places auction cars are likely to come from.
A lot more people buy new cars than can really afford to, and as a result, when they are unable to keep up their repayments on their various loans, their cars usually get repossessed and sold, and one of the easiest and most efficient ways to sell these vehicles is through vehicle auctions.
When assets and property are deemed to be the profits of some sort of illegal venture, the police often move in and seize them, and vehicles quite regularly feature among assets confiscated in this way. Due to the cost of storing seized vehicles being so high, it is far more cost effective to just sell them, and the majority of such vehicles end up being sold off at auctions.
Sometimes non-profit groups have assets donated to them that they don’t necessarily need, but that are worth a significant amount of money – such as vehicles. It is common for these groups and organisations to make use of auctions to quickly turn vehicles they don’t need into some far more useful cash.
Schools acquire quite a significant amount of assets and resources over the course of the years, such as vehicles, gym equipment, etc., and so when it comes time to update or even downsize these important assets, much of it ends up being auctioned off – especially the vehicles. It is becoming increasingly common to see school buses in particular being auctioned off by cash-strapped schools.
Formerly leased vehicles commonly turn up at auctions and generally represent some of the best bargains. They will have had all the necessary maintenance done throughout their life as a lease vehicle, which is sure to not have been terribly long, and almost all lease vehicles are in extremely good shape.
It is amazing what people inherit from their friends or relatives, and vehicles are among the most common items. Inherited vehicles more often than not end up being auctioned off; in fact, a large amount of the vehicles at any auction are those belonging to recently deceased people.
Every government, whether at the city, state or federal level, makes use of a large amount of vehicles. It is imperative that they are running well at all times, so government fleet vehicles are known for being well maintained and are replaced extremely early on in their lives. When they get replaced, government fleet cars are generally auctioned off, and for the most part come as very good deals.
If you are looking for a car but don’t have a lot of money to spend, buying at an auction can be a fantastic way to get an amazing deal, but remember that there are lemons at the auction too. Make sure you are doing your research and going over each vehicle with a fine-tooth comb, and keep in mind that you don’t have to buy something straight away, as there will always be other auctions.