8 Key Points To A Federal Auto Auction
A federal auto auction is a great way to get a deal on a great car. Unfortunately, some people aren’t aware of them or how they work. Some tend to question whether or not these are real deals, or if there’s a catch.
The Basic Facts About Federal Auto Auctions
Basically, various federal agencies auction off overstock, unclaimed, and seized automobiles. These events are sometimes known as a “government surplus auction.” The federal agencies who hold these type of auctions are, The General Services Administration(GSA), FBI, IRS, DEA, U.S. Marshals, Department of the Treasury, Homeland Security, and Border Patrol to name a few. Your state, county, and local governments also have regular government auto auctions. These are held by the state police, DOT, city and county law enforcement, city and county administrative departments, and fire departments.
Your banks, credit unions, and other lending institutions regularly repossess automobiles from delinquent customers. They then sell them through a government auto auction. In most cases, a financial institution’s auction and a federal auto auction is handled by private companies under contract, these auctions are very professional. You can find a federal auto auction in various parts of the country. One or more is held almost every day of the week. Usually, the general public can attend and participate. Finding a good deal once there is very possible, though most people don’t even know they exist.
How A Federal Auto Auction Operates
A federal auto auction is held all over the country, the locations and times vary greatly. You may find that a government auto auction is held at a particular location on a regularly, this could be monthly, quarterly, or annually. Your local and/or national newspaper tend to have location and time details. A government surplus auction tend to have more than just cars up for auction. You can find all kinds of property, such as real estate.
A federal auto auction has all types of vehicles up for sale. These tend to include, SUVs, coupes, sedans, vans, minivans, and convertibles. The point of all this is so these government agencies and lending institutions can get rid of this surplus property while getting as much money as possible. This is to your advantage however, cause you can get some very good bargains on a nice car. You should know that this is the case, because no one would participate if they weren’t getting great deals.
To be a bidder/buyer at a federal auto auction, you must be at least 18 years old and have a drivers license that’s valid. There are some government auto auctions that are restricted to licensed automotive dealers, but you’ll find a large majority of them are not. For about two days before the actual federal auto auction, you have a preview period where you can inspect the various vehicles. The main disadvantage is that you will not be able to test drive the vehicles in most cases. However, you can start them up and check them over to your heart’s content.
Like with most auctions and used car sales, there are no warranties or guarantees. In most cases, there are no buyers fee or registration charges at a federal auto auction. You just pay the price of the vehicle, and you’re set to go. It take’s a little practice to become a good auction buyer, this federal auto auction finder will save you thousands of dollars.
Don’t Make These Mistakes at a Federal Auto Auction
There are always some risks when buying a vehicle at a federal auto auction. The key is to learn as much as you can so that you can significantly lower your risks. Doing some research and knowing about what kind of car or cars you want will put you ahead of the game. You should also do some research on pricing, and how the government auto auction process works. If you’ve never been to an auction before, then you should be aware that a federal auto auction typically moves very fast. It’s a good idea to attend a few just to observe, so that you can get an idea of the pace and bidding techniques.
The only “catch” that you’ll become quickly aware of at a government auto auction is that there’s competition in the bidding. If you’re interested in a car that’s popular and in great condition, you can expect other people and used-car dealers to be just as interested also. Don’t get caught up in the frenzy of heavy bidding which drives the price up and end up overpaying. You should set a limit on how much you’re willing to spend on each car you’re interested in. You’ll find the best deals are usually on the older less-than-perfect vehicles. Dealers go for the relatively late-model higher-priced vehicles.
Winning and Losing At A Federal Auto Auction
Be prepared to bid and lose in any kind of government surplus auction. On the same note, you also must be willing to bid and win. That means ready to pay cash or finance your vehicle within the time frame set by the private auction company. An option you should consider is applying for a pre-approved used-car loan at your bank or credit union. A federal auto auction doesn’t usually accept personal checks, but credit cards, money orders, certified checks, and traveler’s checks are accepted.
Where Can I Find A Government Auto Auction?
A federal auto auction of various sizes are held all over the country pretty much every day. There are basically two ways of finding a government auto auction in your general area. The first way is by doing it yourself, which involves contacting your local federal, state, county, and local government offices to determine if they have upcoming auctions. You have to ask them where they are and when. You also have to contact banks and financial institutions individually for their auctions, if they have them.
Remember to contact the private auction companies that handle auctions for banks and other big organizations. Most official federal auto auctions are announced in local and national newspapers as part of the legal requirements for holding the auction. These federal auto auction ads usually appear on a particular day of the week or month. For a local or county government auto auction, these notices and listings only appear in one local newspaper. You’ll have to find out which one for your particular area.
Federal Auto Auction Directory Services
The second way of locating a government auto auction is through an online federal auto auction directory service. These types of services do all the legwork for you, for a fee however. The cost of this service can average about $40, and is usually a one-time charge for unlimited online access to updated listings of federal auto auctions. This type of service provides complete directories of auctions all over the U.S., showing locations, descriptions of goods, schedules, and other details. Times and locations of auctions can change, so make sure you check before setting out to attend one.
Expectations At A Federal Auto Auction Directory
With an online federal auto auction directory service you shouldn’t expect a full list of specific vehicles, descriptions, and prices for each auction. This information changes on a daily basis, and is difficult to keep updated. You can obtain a catalog of vehicles for a particular auction the day of the auction, or sometimes a few days prior. This can be obtained from the federal auto auction administrator.
One Last Thing To Consider
It’s a good idea to take a mechanic with you to a federal auto auction. This is way you won’t end up paying for a vehicle that’s not fit to drive, or may break down a month down the road. You can get access to exclusive step-by-step tutorials that will make you a confident buyer at any federal auto auction.
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Tags: Federal Auto Auction, government auto auction, government surplus auction, government surplus auctions, seized car auctions
February 27th, 2010 at 5:10 pm
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March 14th, 2010 at 5:39 pm
Are there any of these auctions in Florida?
.-= mike @ Orlando Cars´s last blog ..2005 Chrysler 300 =-.
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Yes, federal auto auctions can be found in every state of the union.
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March 29th, 2010 at 10:11 pm
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Thanks for the tip. Is there a list of location that this auction might be available? Thanks.
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May 5th, 2010 at 3:34 pm
I love buying cars from the federal auto auctions because they let it go for really cheap. Sometimes they get cars in that has been in a drug case, etc. and its normally half priced!
.-= Matt@Divorce in Mesa´s last undefined ..Response cached until Thu 6 @ 20:15 GMT (Refreshes in 22.69 Hours) =-.
May 10th, 2010 at 3:20 pm
My uncle buys all his cars from auctions but I never knew how it all works. If I can get a cheaper deal and buy a car from the auction, I would! Maybe we can get lucky and find a good deal!
May 16th, 2010 at 7:29 pm
Auction can be fun and exciting event
their are companies that conduct the selling of personal property…
construction equipment, vehicles,trucks, and vans,
On the behalf of united states marshals services. your city county sheriff’s
department, city gas electric company,and various charity organizations and others.
May 18th, 2010 at 3:35 pm
Do you have to pay the car in all cash if you buy it from the auction? I am interested in finding good deals.
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May 27th, 2010 at 3:47 pm
Normally buying a car from the auction has no warranties or guarantees, its usually sold as is. But I think most of their deals are cheap and its worth the price.
May 28th, 2010 at 10:35 pm
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June 11th, 2010 at 12:59 am
Check out http://www.dealermarketer.com for good deals on getting your dealers license. We are running specials soon for Auction Access! $189.00 for monthly access. http://WWW.DEALERMARKETER.COM $100 referral fees for referring others.
June 14th, 2010 at 9:37 am
This is a great tutorial on buying a car through the Government Auctions including the risks involved in Federal Auto Auction. Thanks for the great information.
June 16th, 2010 at 11:20 pm
thank you! just what I’m searching for
June 18th, 2010 at 12:38 am
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June 23rd, 2010 at 3:18 pm
Good points, I want to find an auction so I can bid on cars or see what its all about.
June 27th, 2010 at 10:46 pm
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June 28th, 2010 at 5:00 pm
I really need a new car, but the problem is I have terrible credit. I had medical problems in the past and my insurance only covered so much. Buy Here Pay Here dealerships will allow me to re-establish good credit.
July 7th, 2010 at 11:31 pm
Several superb tactics to get a better price
July 9th, 2010 at 1:30 pm
Try to find out when the auction takes place because they have really good deals on cars.
.-= Chris@Austin Divorce Lawyer´s last undefined ..Response cached until Sat 10 @ 16:57 GMT (Refreshes in 21.46 Hours) =-.
July 15th, 2010 at 11:55 am
There are so many different auctions you can go to that has so many different cars. Make sure you check everything on the car before purchasing it.
.-= Fred@Divorce in El Paso´s last blog ..Understand Child Custody with a Divorce Lawyer in El Paso =-.
July 16th, 2010 at 11:11 pm
I currently have poor credit due to some old credit card bills. I need a car badly, so I’ve been learning about buy here pay here dealerships. Thanks for the info!
July 19th, 2010 at 4:39 pm
When buying a car with the auction you normally get the car “as is” which means no warranty on the vehicle.
.-= Olaya@Cincinnati Divorce´s last blog ..By- When You Have Decided to Get a Divorce Cincinnati Divorce =-.
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September 22nd, 2010 at 4:58 am
Thanks for the tips that you have shared and given, keep up the good job.
Police Car Auctions´s last [type] ..Police Car Auctions – Profit From Police Car Auctions updated Tue Jul 24 2007 6-41 am CDT
October 24th, 2010 at 10:38 pm
As a blogger and person who participates in auto auctions, especially Sheriff Auctions I commend you on a great post. It is full of information that can help a person who would love to attend these types of auctions. Great dos and don’ts and descriptions. i will visit frequently to get the most updated info.
Ahmed Payette@Sheriffs Auctions´s last [type] ..Nissan Sentra in Sheriff’s Auction
October 26th, 2010 at 4:45 pm
I have this Jaguar for more than 2 years now and I think i am gonna sell this off at a federal auto auction. I liked this post
November 4th, 2010 at 3:35 am
These are very good tips. I have been reading articles about this topic. From what I have read, your tips could be of great use and very effective. I’m looking forward for your next post. You articles are very informative and full of facts.
November 10th, 2010 at 11:10 pm
There are so many different auctions you can go to that has so many different cars. Bt you check everything on the car before purchasing it.
November 16th, 2010 at 1:01 pm
If you don’t have the loan before you go to the auction, is there any way of just putting a down payment on a car before you are able to purchase the rest? I have never been to a Federal auction before- so I am just wondering if there were payment options or if it had to be paid in full. Thanks
November 28th, 2010 at 10:02 pm
@Calie – No, you usually have to pay for the car in full when you have the winning bid at most auctions. You might be able to put a down payment on a car via a broker…but I’m not to sure about that.
November 29th, 2010 at 7:33 pm
Thanks for posting! I wasn’t sure how those auctions worked.
December 2nd, 2010 at 6:19 pm
That last point is crucial- because you don’t want to be spending all your time at a mechanics after a purchase!
January 7th, 2011 at 3:17 am
Wanted to say thanks. Outstanding post.
January 10th, 2011 at 4:36 pm
Always clean and detail your car before selling it and you’ll get alot more out of car.
January 26th, 2011 at 12:17 pm
Auctions are great and can save you a lot of money. Every time I’ve been I haven’t had a problem with being ripped off. They are pretty reputable.
February 17th, 2011 at 3:08 pm
Federal auctions can be a great place to get a car cheap, but I would have never thought to take a mechanic with me to inspect the car; that’s a good tip. Where do you think the best place to go for a federal auction in Southern California is? And if you can’t think of one- where would I go to find out.
February 20th, 2011 at 4:39 pm
I Live in Germany and I will go to the USA in a few month to buy a cheap and BIG car. So i want to say thanks for these great information! This really ended my internet odyssy.
March 14th, 2011 at 7:20 am
Thank you for sharing the post regarding Federal Auto Auction. You have some good points which are so helpful and useful.
March 22nd, 2011 at 9:21 am
I bought a car at one of these auctions and highly recommend them.
March 27th, 2011 at 6:37 pm
Great post! This is why I love blogging. Always something interesting to read, watch and enjoy. It keeps the mind active. Thanks
April 12th, 2011 at 12:49 pm
One problem that I’ve heard is many bidders come across the fact that they can’t test drive the vehicle. It’s very important to come with knowledge about the car you’re interested in and bringing a mechanic will help ease the stress.
@Andre- Look into shipping costs before coming out to the US, just in case it’s better to purchase in Germany. Many European cars are much more expensive here.
Great article.
Diane@ Title Loans´s last [type] ..How to Start a Budget
April 12th, 2011 at 1:35 pm
Thanks for the great advice – I’ve never been to an auction before. I’d love to go test out my new knowledge though!
April 12th, 2011 at 5:52 pm
I knew that Federal auctions was a great place to buy a car on the cheap, but like other, I didn’t have a clue that taking a mechanic would be such a great idea. Thanks for the tip!
April 22nd, 2011 at 4:50 pm
Do you guys have a facebook fan page for 8 Key Points To A Federal Auto Auction? I searched for one on the internet but could not come across one, I would love to become your fan!
April 25th, 2011 at 3:01 am
These facts are very valuable to people who want to get information about the Federal Auto Auction. I can recommend about this one by the way pretty useful information that you have added to this post thank you for it.
May 14th, 2011 at 8:27 pm
No we don’t as of yet.
June 2nd, 2011 at 12:44 pm
Thanks for the advice. I actually did make one of those mistakes at a federal auto auction and lost a great deal of money. I appreciate sites like this being around for others to turn to so they don’t do the same thing I did!
-Sara
June 10th, 2011 at 1:42 pm
Great tips. Auctions are a great place for car dealerships and personal car buyers. I would suggest having a mechanic with you when attending these auctions because what you see is what you get. You’re allowed to look under the hood, but no driving around. Great article showing the benefits of auctions.
June 24th, 2011 at 3:44 am
Thanks you for your informations. its always good to have a plan if you want somethin on a federal auction. so this 8 points in mind and it will go well!
Mike@Poker´s last [type] ..Gewinnspiel- 5x Paintball für dich und deine Freunde
July 6th, 2011 at 12:42 pm
Admittedly, I have not ever been to one of these, but it seems like the auctions will not generally be composed of higher end cars (granted there are plenty of bank seized higher end cars), but have a lot of crown vics and retired duty cars and suburbans. Is this true?
July 12th, 2011 at 2:39 pm
This was a really informative article, I’ve never been to a Federal Auto Auction myself but I know my brother-in-law was thinking about checking them out. I will forward him this blog, I’m sure it will help him out a lot! Do you have any other tips I can pass along?
July 20th, 2011 at 3:32 pm
I am, by nature, an overly trusting person. I have been thinking of getting a really nice luxury vehicle at one of these places and the thought of getting fooled never even crossed my mind. Thank you for the advice and I will definitely be on the hunt for some trustworthy mechanics to take with me… know any?
August 3rd, 2011 at 8:05 am
In most cases, a financial institution’s auction and a federal auto auction is handled by private companies under contract, these auctions are very professional.
August 3rd, 2011 at 6:40 pm
My uncle always buys his vehicles at Federal Auto Auctions. He even bought my aunt a Mustang convertible for her birthday at a Federal Auto Auction. These cars have nothing wrong with them but they are sold for very cheap.
August 11th, 2011 at 12:18 am
These eight points about a Federal Auto Auction are very all-sided. They not only make me have a general understanding of the federal auto auction, but also the required information on how to deal with an auction. Many thanks!
August 23rd, 2011 at 2:27 am
Your post is quite a treasure for us. Keep on posting more insightful posts.
Thank you so much! You did such an awesome job shedding some light on me!
August 30th, 2011 at 9:13 pm
There are certainly a lot of details like that to take into consideration. That is a wonderful point to bring up. I offer the thoughts above as general inspiration but clearly there are questions like the one you bring up where the most important thing will be working in honest good faith. I don’t know if best practices have emerged around things like that, but I am sure that your job is clearly identified as a fair game. Both boys and girls feel the impact of just a moment’s pleasure, for the rest of their lives.
September 2nd, 2011 at 11:53 pm
Very good points raised. Although I have never been into car auction, I feel more educated after reading this.
September 22nd, 2011 at 3:37 pm
Thanks for the tips, I had been looking at going to one to buy a car but was worried about getting in over my head.