a Successful Blueprint for Police Auctions
So you’re at a stage that no one needs to convince you that there are bargains to be had at police vehicle auctions. Perhaps you just need a good strategy to follow in order to translate your efforts to some serious dollar savings. If you want to ensure that you achieve your goals at auction events, follow these 4 steps below.
The Car Inspection
This can be pretty much described as a gift from the auctioneer – the chance to have a really good look at the vehicle. Use it!! The purpose here is to have a closer look at particularly the engine (for mechanical issues) and structural integrity of the car as you won’t be allowed to test-drive it.
The Vehicle’s Registration Number (VIN)
It’s the basics that most people forgot and that ultimately get them into trouble. For no cost whatsoever you run a basic report an a cars history by using it’s registration number. This report will give you exactly the sort of information you need to determine if you want to even buy the car at police auction
Check the Title
Granted the police department does do a little bit of work to confirm if there are any outstanding liens on the car. They generally don’t however do a very good job of it. It’s a very good idea to look this up by yourself as you don’t want the bank to seize the vehicle you just purchased.
Determine accurate valuation
Going into the auction without a good reasonable estimate of the valuation of the car you’re interested in would be suicide. It’s almost like cycling downhill on your bike without any functional brake system. If you don’t have a benchmark valuation handy for the car, the chances are very good that you will bid until you win. This strategy will lead you to buying the car at a price much more than what it’s worth. The conclusion is simple. Know the valuation and DO NOT bid anything more than this on the car.
With the above information you’ll generally be well prepared on the police vehicle auction day. It’s not uncommon for people to get completely caught up with the events at the auction – very true in particular with live outcry auctions. The secret to success is to remain calm and stay on course with your strategy. Nobody usually does better than the quiet relaxed bidder who normally walks away with the winnings.
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