How to Buy Seized Vehicles for Sale

When a car is seized from the owner due to nonpayment, you often have a chance to purchase the car at a discount over retail prices. The bank that finances the car wants their money that is owed on the car so they will auction the car to the highest bidder in an effort to reclaim the money they have lost on the loan.

Banks

You can buy seized car directly from the bank to avoid the middle name. Look up the listings for your local bank in the phone book, and then call each one individually to see if they have any seized car currently for sale. If not, ask them if they will take down your name and number so that they can call you when they do have one available for sale.

Dealerships

A great place to purchase a seized car at a discount is your local car dealership.  Call around to the local car dealers in your area to see if they have any seized cars for sale on their lot. If they do they may offer you a chance to purchase them at below retail value so they do not have to bother putting them in an auto auction. This benefits them by having them the time and expense to bring the car to an auto auction.

Auctions

When a car is seized due to non-payment, they are usually sold in an auto auction. These auto auctions are available in all areas. If you are unsure where there is a local auto auction, call your local police department or town hall to see if they know of where they are located. You can bid on all cars at the auction, most bids begin at $100 and work their way up. The winning bidder is the one who takes the car home.

"As Is" Policy

Most seized cars come with an "as is" policy. This means that you purchase them as is with the understanding that any damages or repairs to the vehicle are your responsibility to be fixed. The place where you purchased the car has no liability for any mechanical problems that the car may have or develop.