How to Buy a Used Car Under Book Value

How to Buy a Used Car Under Book Value
Provided By: CarInsurance.com Auto Insurance Articles
Last updated 6:56 PM Sep-30-2008

Cars are not a great investment. That is what my financier friend tells me all the time. Though it may just be an excuse for him having an old, grungy car there is some truth to it. New cars depreciate the moment you drive them off the lot. Nothing you can do to stop or change that. But if you are looking for a new vehicle there are ways to save money and buy a used car for under book value and at least make you feel like you have received a good investment for your money.
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Auction, the word can scare some. In America we are not used to the type of bartering that is common place all over the world. One place where we can take part in a bartering system is at an auction. Instead of staying away from an auction you should learn to enjoy it and learn how to benefit from it. Vehicle auctions specifically are what I am talking about here.

Vehicle auctions take place nearly every week someplace. There are different rules associated with different auctions so before just showing up make sure you do not need certain credentials. Some auctions require you to have a dealer’s license and if you do not you might not even get in the door to look at what cars are even available.

Repossessed vehicles are a second kind of auction that you may find. There are government auctions, local city police and sheriff auctions that allow you to bid on repossessed vehicles.These are for the general public in most occasions.You may be able to find a car that is in good shape with few miles but that the owner was unable to pay their fines on so was taken. Others are taken for driving without a license and unable to come get their car. These cars are most likely in good running order. But always be sure to take a look at the vehicle you plan to bid on and not bid blindly.

Other kind of auctions includes cities, counties and schools that sell off vehicles they no longer need. These types of vehicles might have high mileage but because of being a fleet vehicle have been well maintained. These cars have had their scheduled tune ups and have been washed and kept looking good. The interior as well is usually in good condition since it was used for work purposes and not family or rough conditions.

So if you want a way to get a good investment for way under book value remember to try out auctions. Of course do not go into it blindly. Learn the auction lingo, know what book value is on the car you are interested in and stand firm on how much you want to bid up to. It is best to go to an auction or two to just watch and take in the action before bidding. Remember you are getting such a good deal because there is not a warranty or guarantee for the car in most instances. If you do your research before you go though you can come out of the auction with a nice used vehicle for an amazing deal.

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