Repossessed Car Auctions sell to the highest bidder, and it can be a great way to get a used car for a fraction of the value. Many second hand car dealerships make their living by getting their used cars cheap at government auctions and then selling them for huge profits. That is how many of them can say, “We finance anyone”. Often they have so little tied up in the car, that they can afford to make the profit off of the value difference and the financing mark-up.

They don’t want the general public to know that they can buy their cars this way. Often it is possible to find out the history of the car by the vehicle ID # and you can do the research and look up the Kelley Blue Book value, or your bank will often look it up for you. The second hand car dealerships will be present and will probably have a blue book with them, or they have already inspected the used cars they plan to bid on, and know how to get a steal on them, at what price. They may outbid you if they know the wholesale value and condition of the vehicle and you don’t.

Posted under Second Hand Car Dealerships