“Police Impounded Cars” are cars and trucks that have been confiscated by law enforcement officials because they were involved in crimes. These crimes can be all sorts of things and the law allows it. All fifty states have laws that allow law enforcement officials to seize vehicles under the law. The way it works is that after a car is seized and processed, is it often offered for sale to the general public.
It isn’t risk free
You should know that buying one of these cars involves unknowns. It is not a risk-free transaction like purchasing a car from a local car dealership. Cars sold at a public police auctions do not come with a warranty and are definitely considered “as is”. The good news is that you can minimize the risk involved by doing some homework. Most auctions, for example, allow you to inspect the vehicle’s documentation online days before the auction occurs and you can usually look the vehicle over on the day of the auction.
The problem is that lots of people want a good deal on a used car and you may find you have some serious competition. How can you load the deck in your favor? When looking for a public police auction, seek out auctions happening in more rural areas. A big crowd can drive the bidding prices up, so look for auctions in less populated places will slant the field in your direction.
What to do on the day of the auction
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 comfortable with. Keep in mind that, the vehicles at the auction are almost always untouched, which means they are in the exact state they were in when they were seized. Be prepared for the vehicles to be damaged, and often filthy.
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. Don’t even think of doing an IOU. 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.
Be careful during the bidding
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. It is very common for people to pay more for a vehicle at a public auction than it is actually worth. Don’t let it happen to you.
Article Source: Griffis Motors