People love cars. And they're always in search of great deals. These two aspects combine for a general love of great deals on cars. Some of the best car deals around can be found when authorities offer impounded cars for sale. This is normally done via an auction. And if you play your cards right, you can end up with a steal (pun intended.).
Where do these cars come from? Police often acquire cars through taking them from criminals. Drug dealers, for instance, can lose everything they own if caught. The city or state then has lots of cars, sometimes luxury cars, that they want to sell. Tickets also generate a lot of these cars. If the owner doesn't pay to reclaim the car, it's offered for sale.
Sometimes the cars are sold straight to dealerships who either sell them on the lot or auction them. Auctioneers also buy cars and then sell them at their own auction. It really makes no difference. A smart buyer can get the car for a song when its up for auction. But beware of some pitfalls of purchasing cars via auction. You can as easily end up a dissatisfied customer as a successful bargain hunter.
The first thing to keep in mind is these cars are generally sold with no warranty. All sales are final and it's up to you to do the homework”. That is, in the auto industry, “as is.” Puffery is also common, and legal. When car dealers say “clean as a whistle” that's puffery. Some key words like “clean” or “like new” are also involved. The law allows quite a bit of latitude on this phrases that imply quality. What they really come down to is “there's a sucker, let's make the deal.”
The wise thing to do is go in with knowledge and expertise. Inspect the autos thoroughly. That means attending an auction with an automotive expert if you don't know much about cars. Auctions offer test drives so use them. Impounded cars for sale can be a bargain. But remember that if it seems too good to be true it usually is.
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