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Hi guys,
So I went to check it out today. Interesting experience. The actual auction got delayed so I couldn't stay to see how things turned out. But, my experience:
1. It's a Towing Company - The lot holds Public Auction on the 2nd Saturday of every month. Today there were a few good cars (assuming everything was truly kosher).
2. It costs $100 to get a bidding card/number. The money will be applied to your purchase if you win or refunded if you don't get anything.
3. It seems like a good idea to either be knowledgeable in cars or bring someone who is. Lots of good deals to be had if you know how to look for them.
4. One problem: No one knew what the procedure/policy is in transferring title or doing the paperwork. For example: If the car has liens/fines/outstanding tickets etc, does the new owner have to pay it? That was the only real sketchy/risk part in the whole affair.
Otherwise, if the car's a lemon, well, you take a risk and you have a couple of hours to check under the hood, check the battery, kick the tires, drive it back and forth a few feet so, caveat emptor.
Still, I saw a Toyota Corolla in fine shape (cosmetically) and the engine sounded fine. 1995 model, with 107K miles on it. Not bad, especially if you get it for a $1000 or so. There were some other fixer-uppers as well.
I will definitely check it out next month and tell you all how it goes.
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