Buying a Repossessed Vehicle from a Salvage Auction

repossessed vehicleThe economy is struggling and so are many people when it comes to making their car payments for one reason or another. When a debtor does not make payments or cannot make payments on their financed vehicle, it is repossessed by the finance company and if not reclaimed by the debtor, is sold at auction.

 

Repossession can be voluntary or involuntary, depending on the cooperation of the debtor. Voluntary repossessions involve the debtor turning the vehicle in on his or her own, and the vehicle is held until they can catch up on the payments. If they do not, or cannot, catch up the payments in a given time period (usually 14 days), the vehicle is taken to auction and sold. The proceeds from the auction are applied to the debtors balance and they are pursued by legal means for the balance. Involuntary repossessions involve hiring a repossession company to find and secure the debtor’s vehicle. This takes time and money, and can sometimes lead to finding a vehicle that is damaged or in poor mechanical condition. These vehicles are sold at auction as well and the same legal process is conducted. Every day car auctions such as Copart auto auction, offer repossessed vehicles for sale any one of their salvage car auctions across the United States. What this means for the consumer is a large number of salvage cars for sale that may or not be salvage cars at all, as they may have clean titles. If you are looking for cheap cars that have clean titles, you just need to go to www.SalvageReseller.com and register for an account. This site offers you the opportunity to bid on cheap cars from hundreds of Copart auction locations all over the United States. You have the option to sort the vehicles by title status using the Quick Pick feature and using the “CLEAN TITLES” link. Doing this will give you a list of all the cars for auction at Copart that have clean titles. If you find one that you are interested in and want to bid on it, you simply need to register on the site, and you can bid on any vehicle listed no matter what type of title they have. If you find a vehicle, you like you simply need to click on the Lot# and it will provide you with all the information on the vehicle including location along with photos. If you find a vehicle you want to bid on, once you are registered, all you need to do is enter you bid and follow the instructions given. Before you bid on a vehicle however, do your homework. Find a site that offers free vehicle valuations and insert the VIN number that is given in the vehicle information. It will tell you the approximate value of the vehicle in order to determine a reasonable bid. In most cases, the vehicle will sell for a fraction of what it is worth, and that means money savings for you. You also want to inspect the repossessed vehicle yourself if it is close to your location, or hire and inspector to go look at the car for you. In the end you will usually end up paying less money to buy a car from an auction and pay to have it shipped to you then you would buying a used car from a dealer. So the next time you are in search of a used car, consider an auto auction, simply visit www.SalvageReseller.com, register and open up a whole inventory of Copart vehicles from the comfort of your home or office.