You can find updated lists of repossessed car auctions across the US at http://Repossessed-
For those who still don't know, repossessed car auctions are mostly public auctions where repossessed cars are sold. These repo cars are vehicles whose owners defaulted their auto loan payments, thus allowing lien holders to repossess the cars. Once banks and dealers have legally regained possession of these vehicles, they usually resell them in various ways as soon as possible, in order to make back as much of their investment as they can before these repossessed cars become a liability. This fact accounts for the ridiculous prices repossessed cars usually go for, which can be as low as 5%-10% of their street value. What's more, the current crisis has contributed to the huge offer and low prices of vehicles at repossessed car auctions, due to the increased number of loans that have not been fully re-paid.
Another similar option to traditional repossessed car auctions (and also very appealing to an increasing number of Americans these days) are government and police auto auctions. These are marketplaces where different government institutions sell their surplus vehicles and the police sells their seized cars. Once again, bidders can end up acquiring cars, SUV's and 4X4 vehicles in very good conditions for as much as 95% off at these police and government auctions. The biggest problems buyers seem to face when dealing with repossessed cars seem to be how to actually find them and how to conduct themselves at these public auctions.
In order to solve the problems mentioned above, a few specialized websites have recently sprung which provide complete updated lists of government and repossessed car auctions across the United States, saving precious time and uncovering new opportunities for repo car buyers. These sites deal not only with offline repo car auctions, but with online ones as well, which usually result more attractive to people buying their first repossessed car. They also provide proper guidance to those who are new to this activity.
You can find more information and updated lists of repossessed car auctions in your local area and elsewhere in the US at http://Repossessed-
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