Seized car auctions or government car auctions are hot spots for anyone looking to buy a repossessed or impounded car at rock-bottom prices. These auctions can offer you a gently used vehicle for as little as 80% off retail value and even as much as $100 in some cases. Thousands of cars are seized every day through the different seized and surplus laws by government agencies and made available to the public through seized car auctions.
Government Agencies Offering Seized Cars for Bid
Seized or repossessed cars are put up for sale by government agencies such as the General Services Administration, Internal Revenue Service (IRS), US Marshals Service (USMS), US Customs Service (USMS), Small Business Administration, US Department of the Treasury Homeland Security, Department of Defense Reuse and Marketing Service (DRMS), Department of Agriculture (USDA), US Department of Defense (DOD), Department of Energy (DOE), State and Local Police Departments, US Bankruptcy Court, etc.
Types and makes of repossessed or impounded cars available at such car auctions
SUVs, sedans, pickup trucks, specially equipped patrol cars and other types of cars are available for bidding at these auctions. Don’t be surprised to see different car brands, including luxury brands, both Japanese and continental, in these places. Car brands like Honda, Nissan, Toyota, Lexus, BMW, Mercedes Benz, Acura, Cadillac, Infiniti, GM, Ford, Chrysler and even the best tires like Ferrari, Maserati, Porsche, Lamborghini and Aston Martin can be found in a small fraction of their original prices.
Many of them fall below the 3 year mark and have covered miles under 35,000 miles.
Why does the government seize cars and sell them cheaply at auctions?
There are several laws that govern the impounding of vehicles, including anti-mob laws and tax laws. Some of these cars are seized from drug and criminal syndicates. Others belong to people who do not comply with their tax payments and are usually acquired by the IRS. However, there are others who are stuck in bankruptcy proceedings that led to the eventual handover of their cars to government agencies.
Every day, thousands of cars end up at seized car auctions because government agencies don’t want to spend money maintaining them. The huge storage spaces, as well as the depreciation of these used cars, make it more imperative for them to auction the repossessed vehicles at reduced prices.
Who can participate in these seized car auctions
Until recently, many people did not know about these auctions. For a long time, these car auctions were only known to used car dealers. So these businessmen have kept quiet about it and quietly profited from it.
Seized car auctions are closed or open. Closed auctions are open only to those who have an approved license to bid, while others are open to the general public. As long as you are over 18, you can buy a repossessed used car at auction.
Don’t envy those who drive cool sports convertibles when you can drive one home today. Check out my blog for more information on these seized car auctions.
