How to Bid at Government Auctions

Cars are repossessed by the federal government on a continuous basis as they capture criminals involved in drug smuggling. All their properties are seized including cars, houses, jewelry and other valuable items. The government cannot keep these belongings so they put them up for sale through an auction.

Things You'll Need

• Mechanic
• Car inspection
• Car warranty
• Car insurance

Instructions

Process

1. Research to find where the next government car auction will be held. Look in the newspaper for announcements or search online. Find out if there are any fees associated with entering the auction. Most auctions charge a fee to be able to participate in the bidding process.

2. Find out if the auction is public, sealed or a spot bid. This is important because a sealed auction does not require that you be present. Check for any factory warranties that may or may not exist before the auction date.

3. Find out if the auction provides financing. Some do, but most of them don't. Be sure that you know how much the entire cost will be for the deposit and how much time is given for paying the remaining cost. Find out about any hidden costs associated with the final bid price.

4. Investigate and find out when the inspection date will be. Go to the auction site with a mechanic to inspect the vehicles that you have an interest in bidding. Take a writing pad with you to write down the ticket number, the make and model of the car, and any other information that seems necessary. Drive the car if it is allowed.

5. Get to the auction site early on the day of the bidding process. Bid on the car that interests you from your list. Do not go too high if you notice other bidders increasing the price. Stay within your budget at all times.

Tips & Warnings

• Have fun while your are bidding. Don't get too caught up in the process. There will be other auction dates to consider.

• Find out how you can arrange for insurance for the car. You don't want to drive a car off the auction lot without insurance. Call your insurance company to find out how this can be best handled.

References

• Car Auction