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Old 09-05-2006, 07:47 PM
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Z-Power
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Default State Auctions

Why are the cars so cheap? How can this be true?



http://www.stateauctions.org/cars.html
Old 09-05-2006, 09:20 PM
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Anomaly
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Originally Posted by stateauctions.com website 'about' section
StateAuctions.org has been around for more than four years helping customers nationwide to realize their goals of purchasing quality inexpensive vehicles through state and government auctions or to acquire real estate properties with significant discounts through bank and foreclosure auctions.

We service virtually every city in the United States and continually growing and improving each day. The staff of StateAuctions.org is always ready to assist you with any questions you might have and guides you through the process to make sure you experience the highest level of satisfaction and get to your goal in the most efficient and quick manner possible!
Other than that, I've heard that some state auctions are police confiscations and possibly property that hasn't been claimed due to death.

EDIT: After reading into the site further, I'm not entirely sure it's legitimately a US Government run site because it asks for an intitial membership fee and a credit card number:

USE YOUR CREDIT CARD BELOW - 100% SECURE TRANSACTION
ONE TIME FEE - NOT A REBILLING MEMBERSHIP
REGISTRATION FEE FOR UNRESTRICTED 1 YEAR USE - ONLY $35

Last edited by Anomaly; 09-05-2006 at 09:27 PM.
Old 09-05-2006, 09:58 PM
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vkzawa
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OMG look up the porsches. Gah!
Old 09-05-2006, 10:37 PM
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Darlos
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Seems a very suspicious that I put in ZIP codes from different parts of the country, and the same exact cars show up with different state codes. This site seems to be a scam
Old 09-06-2006, 09:27 AM
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Z-Power
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Originally Posted by Darlos
Seems a very suspicious that I put in ZIP codes from different parts of the country, and the same exact cars show up with different state codes. This site seems to be a scam
Old 09-06-2006, 09:36 AM
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sq40
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They say they are Legit.

AUTO AUCTIONS FAQ
Q:Why are the cars so cheap? How can this be true?
A: Every day thousands of Americans default on their car loans or lease payments... as a result, their new or almost new cars get repossessed by the financial institutions and auctioned off in a hurry, because the cost of storing the cars outweighs the banks' ability to try to make the lost money back (same with police auctions, etc.). Consequently, lucky people who have access to direct sources where the cars are being sold would find themselves overwhelmed by dirt-cheap offers that look unbelievable to the average car buyer. This is real and is being taken advantage of by many car dealers.

Q:So why wouldn't everyone buy a car this way, instead of the usual going to the dealer or classified ads routine?
A: Because this is a very protected source of revenue for the majority of car dealerships and is not advertised to the general public. However, we have gathered enough information and access rights to be able to let our members enjoy a multitude of the direct sources where one could find their next vehicle with up to 90% savings off the book value price.

Q:Are there any online auctions that have seized vehicles, I don't like the traditional "bid-on-the-lot" kinds?
A: Of course there are. There is an increasing demand for online access to the vehicle listings and ability to bid and buy online... and we will give you complete access to those sources.

Q:How complicated are the traditional auctions?
A: Not complicated at all. Typically, you would arrive to your local-area repossessed car auction early in the morning and inspect the cars on the lot that are up for sale that day. Usually, many cars would start from only $100 and if there is limited number of attendees that day (and we have so many sources that it's virtually guaranteed that you will have almost no other bidders) than you are very likely to get the car you want for a ridiculously low amount when the actual bidding starts later that day!

Q:Are there any warranties available for the cars I buy?
A:Typically, an auction center or website source would offer a 3 month warranty or guarantee free of charge. For extended warranties, small fee would apply, depending on the source. But, in general, it's never a problem, since many cars are almost brand new and in perfect condition.

Q:Is there a way to check the VIN of the car that I like?
A:Absolutely! Many auctions would offer a complimentary CarFax™ VIN report before you start bidding for your peace of mind.

Q:Are there any hidden fees to buy a car this way?
A: There are no hidden fees. Standard fees such as title and registration still apply and are paid the same way as if you bought the car through a private transaction or at a dealership. However, the luxury tax is not required, since it's already been paid by the first owner upon getting the car registration.
Old 09-06-2006, 09:38 AM
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Really they charge you a fee and then send you a list of when auctions in your area are going to happen. Thats pretty much it.
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