A lot of people have heard about Paterson, NJ stolen cars that have been turned into legal bargains but many do not know how this happens or how to take advantage of it. It doesn’t matter how great a deal is if you don’t know how to take advantage of it. If you are still a little wary about how to find these great deals, understanding the process should make things clearer. Here is a look at how a car gets the auction, how it becomes legal to sell, and how you can take advantage of it.
The first thing that happens is a stolen car is recovered by the police department. At this point, it is possible that the previous owner could still reclaim the vehicle. If the car was recently stolen then this is a possibility. However, if a car has been stolen for more than a few days, most people will have already purchased a new vehicle and will not take any action. Once the car has been held by the state for a certain amount of days, it legally becomes government property. Another option is that the stolen vehicle is seized by the government because it was used to commit another crime. Either way, once it is owned by the state, they want to get rid of it. Simply keeping it on hand costs them money. Sometimes they will use it for a undercover work or as a bait car for a short time before putting it up for auction.
The next step is auction itself. This is where Paterson, NJ stolen cars turn into legal bargains. In most cases, these auctions will only include government vehicles. This could mean that it is a seized car only auction or it could be a general government auction which will also include fleet vehicles. Regardless of what type of auction it is, there are definitely some great deals to be had.
Once you have the winning bid, there are a few pieces of paperwork that you will need fill out before it is legally yours. The first set of papers include basic paperwork that you would fill out no matter how you purchase a vehicle such as title transfer papers as well as vehicle registration papers. Depending on how the car was obtained, there could be additional paperwork to fill out. Keep in mind that most auctions will require a payment immediately following auction, so you need to have a funding source available right away. You should always check with the auction house to determine what type of payments they accept. In some cases, you may have until sometime during the next week to make your payment and pick up your vehicle.
Now that you have a better idea about how this process works, you should definitely take advantage of Paterson, NJ stolen cars turned into legal bargains. Along with looking at traditional auction listings, it is important to note that many government auctions are now featured at online auction sites as well. In some cases, you can actually place a bid before the auction begins. This form of proxy bidding allows you to place a winning bid without ever actually going to the live auction.