About Police Impounded Cars
You have probably heard about these vehicles. “Police Impounded Cars” are vehicles that have been confiscated by law enforcement officials because they were used for criminal activities. These crimes can be all sorts of things ranging from being involved in serious crimes to moving violations. Public police auctions are all legal, of course. All fifty states have laws that allow law enforcement officials to seize vehicles under some circumstances. After a car is seized and processed, is it often offered for sale to the general public at public auctions.
You should know that buying one of these cars at a public auction involves unknowns. It is not a risk-free transaction like purchasing a car from a local car dealership. Cars sold at an auction do not come with a warranty and are considered “as is”. The good news is that you can minimize the risk involved by doing your homework. Most auctions, for example, allow you to inspect the vehicle’s documentation online days before the auction happens and you can usually inspect the vehicle on the day of the auction.
Aside from that, do more research: the majority of auctions will list the to-be available vehicles a few days before the auction date. Look over each listing and identify which vehicles you are interested in bidding on. You may want to line up a couple in case you lose out on the first bid.
When looking for a public police auction, seek out auctions happening in less crowded areas. Everybody likes a bargain and some auctions can get quite crowded. A big crowd can drive the bidding prices up, so look for auctions in less populated places.
If you haven’t looked at the vehicles you’re interested in, conduct a quick inspection once you get to the auction to make sure it is the kind of vehicle you would be okay with. Have an open mind, the vehicles at the auction are almost always untouched, which means they are in the exact state they were in when upon confiscation. Be prepared for the vehicles to be damaged, filthy or full of someone else’s belongings.
You’ll need proof of an approved loan or cash at the auction. Police auctions will only accept payment in cash or proof of an approved loan for the winning bid. Be careful because you will also need to cover the cost of title, taxes and registration costs. You may also need enough money to cover the cost of towing the vehicle from the auction and the cost of cutting new keys if the vehicle comes without keys. It can be easy to get caught up in the rapid fire bidding at an auction, so concentrate on remaining calm and not bidding more than you can pay for. Remember the limit you set for yourself when you bid on your desired vehicles.
Find out if there will be a towing company at the auction. Most police auctions attract towing companies who know they will have customers who will require their services. If that is the case, then you have flexibility if the car you are buying is not operational.
Article Source: Griffis Motors