With the increase in popularity of auto auctions, many people are starting to learn about some of the more common places to find great deals on used cars. People are learning to keep an eye out for ex government auction autos, seized or repossessed vehicles, and many more. However, if you really want to find a great deal at an auto auction, there is a secret source of vehicles that many people are unaware of.
You know that if you get pulled over without a license, there is a good chance that your car will be towed away to the impound lot. Depending on where you live, it will either be towed to a locally owned facility or it will be held at the towing companies private lot. While impound lot auctions continue to grow in notoriety, many people are so focused on government impound lots, that they completely overlook the impound lots that are owned by private towing companies.
Towing or impound services will remove vehicles from a variety of areas. It may include: property management companies, businesses, government agencies, restaurants, office buildings, as well as local, county, and state police agencies. These towing services will house the vehicle in their own impound yard. If the vehicle is not picked up within 30 days, the towing company may put a lien on the vehicle. This lien essentially says that the owner has been notified that the vehicle will be made available at auction.
After a certain period of time (based on local or state laws), the towing company will be allowed to put the vehicle up for auction in order to recoup the costs associated with the towing and storage of the vehicle. Many towing companies will hold their own auctions once or twice a month, while others will simply consign their autos and place them into larger public auto auctions.
Regardless of what they decide to do, these autos are often the real bargains that many people overlook. Since the towing company will often get these vehicles because they are parked illegally or the driver does not have their license, you already know that it is in at least adequate working order. Knowing that it runs already puts you ahead of many bidders. Additionally, these vehicles will not be cleaned out, which means that you also own all of the property within the vehicle. While this normally doesn’t amount to much, it could mean that your new vehicle will have a custom stereo system or other products of value.
While auto auctions in all of their shapes and sizes are a great way to find a bargain, savvy auction-goers pay special attention to the vehicles that are being auctioned off by towing/impound services. These vehicles are not only a chance to get a great vehicle at a steep discount, but also a chance to get additional property that may have value as well. While towing companies have been putting used cars up for auction for the last few decades (if not longer), it is still considered by many to be the secret source of great auto auction bargains.