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Auto Auction Terms
There are automobile auctions held every day in different parts of the country. This type of auction generally involves public bidding on used cars, SUVs, pickup trucks, and minivans. Many people enjoy auto auctions because of the low sale prices or cheap rates they can get for repossessed vehicles. As you may know, government auto auctions offer used police cars, modified automobiles, and old cars that were taken in seizures all the time. It is helpful to understand some of the common key terms that apply to these auctions, and a few of them are listed below.
Government Seized Vehicle – A motor vehicle that was taken from someone by police officers or government agents, due to criminal activity.
Auto Dealer – A car dealer or automobile sales representative is a professional that specializes in selling both new and used motor vehicles.
Online Auto Auction – A car auction that is held online, and allows for people to buy used, repossessed, and government seized motor vehicles.
Repo Vehicle – This is a new or older car, SUV, truck, minivan, or motorcycle that has been repossessed by a bank, because payments were not made.
Wholesale Vehicles – These are motor vehicles that are purchased in large numbers by auto dealers at low wholesale rates.
Modified Vehicle – This is a motor vehicle that has been changed in some way from its original state.
Old or Classic Car – An automobile from a previous era, which is considered classic or antique.
Public Car Auction – These are automobile auctions that are open to the general public for bidding, but not vehicle trades.
We seek to provide you with the best auto auctions in the nation for whatever your buying or selling needs. Listings of all sorts such as government, police, wholesale, liquidation, and every kind imaginable.
Automobile auctions are a great way to get a deal on new or used vehicles. Though some cars sold in auctions are brand new and donated by the dealer, many of the cheaper vehicles are government owned. Often, these cars have been repossessed, donated and restored, or where gained in a property liquidation. Other vehicle may even be vehicles that police took in a property seizure, abandoned vehicles, or trucks that where towed, and never claimed.
People interested in buying a car at an auction sale should consider that sometimes it is hard to find out the automobile's history. Therefore, it is wise to research auctions before attending them. To begin with, there are often vehicle reports available on the auction company's website, or by contacting the company. If the truck or SUV is used, try to find out any engine problems it may have had in the past, or any accidents the vehicle may have been in. Sometimes, this turns out to your benefit. The car is cheaper, but has been modified and updated with newer engine or body parts. Still, if this is the case, find out if the dealer has had a mechanic check over the automobile.
Another reason to research any auction you are planning on attending is because often, there are specific-themed auctions. For instance, some dealers may feature only classic, restored cars, while others offer wholesale vehicles to the public. Other things you might want to consider are silent auctions that take place online, or looking for a trade-in vehicle. The only disadvantage here is that if you buy a car online, you cannot check it out first. Just remember to look into any place you are considering buying an automobile from!