Government and Police agencies and even banks and investment houses repossess and confiscate thousands of vehicles each year. The majority of these vehicles end up at public auction where anyone can bid on them. Buying from an automotive auction can be a great way to save money and at the same time be a fun experience.

People who might otherwise be unable to afford a car can purchase a good used vehicle from one of these automotive auctions. It is not uncommon to buy a car in great condition with low mileage for 80% or more off the retail value of the vehicle.

But one must always remember that at seized automotive auctions, it is basically every man for himself. It is therefore important to arm yourself with the knowledge and skills necessary to identify a good deal when you see one and to avoid those cars that have not been well maintained.

As a winning bidder in a automotive auction, or in any kind of auction for that matter, you should remember that you may be required to pay a buyer’s premium on the winning bid price. So beware of all fees ahead of time. You might end spending more than you intend to.

The buyer’s premium is dependent on the type of car and the auction. The premium could be as high as 5-10% in some seized vehicle automotive auctions. Don’t get caught in a bidding war before knowing all of the associated fees.

Also…When you go to an automotive auction, it would be wise to bring along your little black book. Know how condition, options and mileage, etc. effect the value of a vehicle. Kelley Blue Book or Edmunds Used Car Prices are great resources for this purpose.

When you need a quick answer about a particular vehicle coming up for bid, use these resources to gain the confidence needed to make sound decisions quickly. They will provide pricing information on makes, models, options and condition.

Before heading out to the local automotive auction be sure to get your money in order. Bring a bank statement along with your check because you may be asked to show both. Show up early to evaluate your prospects and plan your bidding strategy. Stick to your numbers and don’t chase the bid. With a little patience you will end up with your dream car for a great price!

Want to find out more about Automotive Auctions, then visit this auction review site to learn how to choose the best automotive auctions for your needs. Learn what you MUST know before the bidding begins.