Every year, thousands of vehicles are repossessed and impounded, both by various government agencies, as well as by banks. Many of these vehicle’s owners are never able to regain ownership of their vehicles, leaving the IRS, FBI, police departments and banking institutions with a surplus of unwanted vehicles. These agencies turn to impound auto auctions, where vehicles are sold to the general public. Due to certain laws regulating the sale of impounded vehicles and designed to keep agencies from profiting from impounding, vehicles are listed much lower than their actual value. At the end of the auction, these vehicles are sold for a fraction of their book value, sometimes at a savings of over ninety percent.
What all of this means is that every day, hundreds of vehicles are being sold at a fraction of what they are worth, to consumers just like you. Unfortunately, many Americans believe their only option when purchasing a used vehicle is used car dealerships. But impound auto auctions have an infinitely better selection than the local used car dealerships, and offer much better savings. There are a few ways to go about finding legitimate auctions where you can feel confident bidding on and buying previously impounded vehicles.
Your first option would be to look for live auctions in your city and/or state. There are websites available that allow you to choose your state and/or city, and they list various information about impound auto auctions in your area, including hours of operation, dates of upcoming auctions, and of course the auto’s details. In most cases, you can search for the exact vehicles you are looking for, in order to narrow down the auctions you would like to attend.
Your second option is to look for online auctions. There are a variety of legitimate and trustworthy impound auto auctions websites on the Internet, saving you the trouble of attending an auction in person. In addition, many of these websites work with impounding agencies all over the country, increasing the likelihood of finding the exact vehicle you want. An added bonus is that many of these websites also offer other merchandise that has been seized, such as jewelry, art, and even homes. There is a wealth of seized property available through auctions, and every item is available at a significantly lower price that it is actually worth. A smart consumer looking to purchase a used vehicle will take advantage of these online auctions.
Finally, we have found that GovAuctionAlert offers the best impound auto auctions coverage across the US, featuring access to both online and live vehicle and property auctions. Currently, for a very limited time only, they run a full-access 7-day trial for less than $2, so you should check them out to see if you can grab your next auto at an auction and save a substantial amount of money.
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