jorgelito

Hi guys,

Need some auto advice. I'm "looking" to buy a car, real casual-like. There's no rush, no pressing need. I'm mostly window shopping, gathering info and doing research at my leisure and convenience so there's no pressure of any sorts. Just entertaining the notion of buying a vehicle. My Budget is $10,000 and above for finance, or under $5,000 cash straight up.

My question is:

Are public auctions a good way to go? Are they legit? If I can save a bundle on a car then hey, why not right? I have an opportunity to attend one this Saturday. Here's the info:

**********Public Auction Saturday Jan 15 2004**********
CONCORD TOWING
12311 W. Exposition Blvd.
West Los Angeles Ca, 90064
310-444-7782
On Bundy - north of Pico Blvd.

Gates open at 12:PM for inspection
Auction will begin at 1:30PM

$100.000 must be deposited to receive a bidders number/ Deposit will be applied to purchase

Does this seem legit, should I go for it or is it all scandalous? I'm hoping to find a "bargain there. Maybe a great car, or could be all dogs.

Ok, second question:
What about Police auctions or internet ones? Here's the link:
http://www.cheapcarfinder.com/howauctionworks.html

I'm just looking at non-traditional avenues for car purchasing. Anyone know anything about it?

Thanks guys.

merkerguitars

Recently last summer my dad got a hell of a deal on a car from a public auction. It was an auction held by a lady that was auctioning off her dads whole estate, including her car. My dad ended up with a 1998 cadillac sedan deville, that had every option under the sun for $13k and only about 37k dealer maintained miles. Needless to say the auctioneer was pissed that it only went for so little. I've been to other public auctions and i've seen many vehicles go for dirt cheap. (like a s10 with a chevy 350 that was built to the hills, but the transmission was blown out) that vehicle only went for about $400. Around here usually when someone dies or is going out of business they hire and auctioneer service to auction off all the property, every once in awhile if you have the money on hand and if not a whole lot of people show up you can find lots of deals on vehicles.
I've never been to a police auctions before but I heard you can get good deals there.

Another good source for cheap cars is bank auctions, just check with your local banks and credit unions and they will tell you about them. These are the vehicles that alot of punk kids or deadbeats buy and then realize they can't afford them, they are repo vehicles and usually you can get them for a good chunk under blue book price since most banks want to get rid of them asap. My friend purchased a monte carlo from a bank auction for about $6k under blue book.

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jorgelito

Thanks man,

I guess I'll grab my check book and try my luck on Saturday then. If I get a Porsche for $500, I freak out!

TM875

Police or bank auctions are amazing, especially if you're a person who can look at a car and know what's going on under the hood. Heck, I even like going to police auctions to pick up other stuff - they have everything.

I'd say for $5K you can find something pretty nice - perhaps a late model Caddy from some drug dealer with an ounce of coke under the back seat

You'll definitely find something to make the trip worth your while. If anything, get a cheap fixer-upper for a couple of hundred. Even if you can't fix it, you could part it out and make some dough.

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JStrider

a friend of mine got a great deal on a car at an auction house a couple years back...

i tried to get a truck at a different one... but someone was willing to put more money into it then i was....

ya need someone whose really good with cars since you cant really test drive it... more then moving it back and forth a few feet...

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LLL2

I want to know where they hold them though,you hear about them.But everytime yyou hear about one it's an week late.But i would never buy an renter car though.

lt1s10

I've been to a couple of police auctions. And there were good deals to be had. I think the most important thing at any auction though is to not get caught up in the moment. Decide before bidding starts how much you're willing to spend on any item and stick to it. I've seen good deals become overpriced because bidders are competing against each other and won't lose. If someone else wants it that bad I'm willing to let them have it.

jorgelito

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.

TexanAvenger

For a more general police-auction kind of thing, I found this site a while back that's pretty cool. I don't think there are cars on it, but there's pretty much everything else, including stuff to go in the cars you get at public auctions...

http://www.stealitback.com

My personal favorite things on there are the auctions selling cell phones by the pound.

MSD

I wonder why the police have so many grow lights on hand to sell off

LuciferJones

I've seen too many scams to know where to look for a good car auction.

I hate having to pay some unknown person for information that could possibly be outdated

lt1s10

The towing company auctions around here the buyer is responsible for tickets/fines on vehicle (if it was a moving violation then you're not responsible) and storage fees. They are not usually good deals after having to pay for those items. Also the friends of the company get all the good cars before they even go to auction.

The bank/credit union and insurance auctions around here are usually better places then the tow company auctions. Also we have a couple of military bases and there have been pretty good cars when they auction off those abandoned vehicles.