| You've heard claims like you can buy cars for as little | | | | very few buy at these kinds of auctions? |
| as $100.00 at repossessed car auctions, but is this | | | | Three reasonable explanations have been put forth; |
| true? If so, where does one find listings of | | | | one is that there is a lack of information on these kinds |
| repossessed car auctions? | | | | of auction, including pertinent information on schedules, |
| To know where to go to purchase one of these cars, | | | | venues and which institutions actively hold these kinds |
| you must first know what a repossessed car is. Most | | | | of auctions. |
| of the time cars get repossessed by the banks, | | | | Another credible point put forward is that the reason |
| because the owners have defaulted on the car loan | | | | why this is so, is because car dealers want to keep |
| or lease payment. When this happens, the institutions | | | | these auctions a secret. They can re-sell the cheap |
| such as the banks, the police, the customs or the IRS | | | | auctioned off car at retail prices to the public. Allowing |
| offer these repossessed cars offered for sale at | | | | them to generate more profits. |
| auctions. | | | | The third explanation that a majority of car buyers find |
| The main reason why repossessed cars are priced | | | | it hard to change their buying pattern. They are used |
| cheaply is not so much for the state it was found in or | | | | to buying new cars from a car dealership. Provided |
| the brand, as much as the continuing supply and the | | | | you do your homework and research well, there is no |
| expense of storing these cars, that tend to lower their | | | | reason you can not go home with an also brand new |
| prices. | | | | vehicle priced at $200.00 or less. |
| If repossessed cars are dirt cheap, why do only a | | | | |