Motor repossessed car auctions present a world of opportunities for you to eliminate the middleman and purchase a repossessed car at a wholesale price. A repossessed car purchased at such auctions inevitably wind up freeing you from the nasty fees of a dealers markup price.
Always be mindful of the time constraint involved in repossessed cars. Make sure you are a step ahead and register beforehand. In so doing you are able to participate in the bid and have enough time to decide upon the vehicle you wish to purchase.
Another important point to consider is perhaps setting a limit for your bid. This way you can decide beforehand what offer you will stick to and it will prevent you from bidding money you don’t have. Base your bid limit on the condition and purchase value of the vehicle and any possible repairs you may have to make. Should the need arise to go over your set limit, only do so in small amounts. It’s important to be disciplined so you are able to walk away should the price get too high.
Try to secure a post-sale inspection of the vehicle you have in mind. Ask a mechanic to accompany you to have a look at the major aspects such as the engine, transmission and body. Whether fault can be found or not, you now have the chance to make a final decision whether to bid or not.
Once your mind is at ease you can start your bidding war, always mindful however, of the limit you set before bidding on a repossessed car. Before you know it you will be cruising around in a repossessed car that makes heads turn.