Searching for used cars at insurance auctions!

 

Before you go out and buy your next used car, take some time to consider some of the options that you have. With the internet, it is now a whole lot easier to investigate the options you have from the comfort of your home or office. Just make sure you do enough research to ensure that you do not end up with a lemon of a car. Searching online, you can use a lot of tools to help you make the right choices including finding the right loan, insurance and type of car.

 

 When people want to buy a used car for a low price they can go to insurance auctions. Why insurance auctions? Well insurance companies have policies in place that mean they do not seek make a profit on the used cars for sale at their auctions. At this type of auction there are plenty of deals for people so there are very good chance of people driving away in cars which are in reasonable condition for fantastically low prices.

 

Some of the used cars for sale at insurance auctions have been seized from people who would have purchased them from criminals who would have stolen them or others which would be accident damaged and they would have been replaced. The cars that are seized are auctioned off to offset the insurance costs of replacing them when they were stolen or involved in an accident. Other used cars for sale at these auctions are cars that once belonged to criminals and then taken as a result of legal action. Sometimes the cars sold at insurance auctions are old fleet cars that were used by the various companies.

With the exception of company fleet cars, it is often difficult to ascertain information regarding the history or a car being sold at a insurance auction. Often, there is no way a person can find out who owned the car before it was seized, why the car was seized and is now in the hands of the insurance company, and no record of the cars service history. While it may be possible to do a data check based on a car's vehicle identification number (VIN), it is often hard to get a really accurate picture of the condition of a car that is sold at the auction. You can find these auctions by searching local used cars for sale online by insurance auction.

In the days and weeks running up to these insurance auctions, prospective buyers are given a chance to check out the cars, trucks, vans and motorbikes that will be sold at the auction. However, at the insurance auctions where seized and repossessed vehicles are sold there is no chance for the buyers to check out the vehicles closely before they are auctioned.

Used car dealers often have representatives present at the insurance auctions in order to buy used cars at these low prices. The dealers will then usually clean the cars up and perform minor repairs on them before they sell the cars on normally for prices much higher than those that they would have paid for the vehicles.

Like all auctions, buyers at insurance department auctions must bid for the cars. Whoever makes the highest bid for a car for sale at the auction wins the chance to buy the car. While it is next to impossible to get a car loan for the exact amount one pays for a car at a insurance auction it is possible to get a personal loan for a specified amount before one goes to the auction.

It is not unusual for high-end and luxury cars to be sold at insurance auctions, although most of the vehicles sold are  just standard spec trucks, cars, vans and motorbikes that one sees everyday on the road. Luxury cars are usually the best bargains as most people at this type of auction are looking for the smaller cheaper cars which are easier to sell.

 

 Go online and search for the auction websites to find out what will be on sale, so that you have an idea of which cars you want to bid for when you get there. This will save you from making an impulse bid. Remember also to set a clear budget for yourself before you get to the auction and make sure you stick to it. Always advisable to take a friend or family to give you a second opinion and help you keep a calm head. Once you make a bid and the hammer goes down you are legally obligated to buy the car.