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Here in my home town a local auction company sets aside 1 day a month for strickly auto. I had went to it several years ago just to check it out and basically forgot about it. Well, last night my Dad called and wanted to know if I wanted to go with him and my sister to this months auction. Dad told me that two of the local banks had several vehicle repos they were going to run through. Long story short they had over 300 cars and roughly 50% were personal cars people were trying to sell and some were nice and some were a peice of crap and the other 50% were nice bank repo cars. We arrived early and had the chance to view all the cars before the sale. Auction rules are if the winning bid is over $500 bucks you have the right to run it down the road before you actualy purchase. If you feel the car has a problem they will just run it through again. Anything under $500 bucks is tow or drive (your stuck with it) My sister purchased a nice 93 (I think) Mits. Eclips All Wheel Drive Turbo with 87,000 miles for $350. I purchased a real nice White and Gold Jeep Cherokee Country 4 door 4X4 fully loaded, perfect paint and body for $550. It has 154,000 miles but runs out good. The inside is in great condition but smells like the past owner packed around a dog. Im planning to put new carpet in and have the seats and stuff cleaned in hopes to rid the dog smell. Im going to have my lawn Care company name & # painted on the sides and use it for estimate runs or what ever. I also purchased a beautiful dark maroon 1993 Lincoln Town Car Executive Series Fully loaded w/leather 54,000 miles and is just prety as a picture in and out. It has a 4.6 V8 got it for $2,350. Im going to run a add in the Springfield MO paper and sell this baby for about $5,000 Kelly Blue Book says its worth about $5,500 private party. It was a little wierd, they ran several late model Fords & Chevy 4X4's through that were bringing good money. I talked to a guy that said he always comes and he said its all about what time of the year it is. Right now everyone wants a 4X4 truck for winter.
Just thought I would pass this on. Being a public aution you are not required to have a dealers license. Might be a good way to purchase trucks for the Biz and also a way to make some extra cash if you come across a gem like I got for the right price. The key to nice cars is watch the paper for notice of repo sales from LOCAL banks. Most chain banks (Bank Of America etc..) use the Dealer only auctions but the Local banks will just run them through a local public auction to reduce transport cost and stuff. I did notice most 99-02 model repos were being snagged up by the local used car dealers in town. Its just a hit and miss I think. I just got lucky last night.
Just thought I would pass this on. Being a public aution you are not required to have a dealers license. Might be a good way to purchase trucks for the Biz and also a way to make some extra cash if you come across a gem like I got for the right price. The key to nice cars is watch the paper for notice of repo sales from LOCAL banks. Most chain banks (Bank Of America etc..) use the Dealer only auctions but the Local banks will just run them through a local public auction to reduce transport cost and stuff. I did notice most 99-02 model repos were being snagged up by the local used car dealers in town. Its just a hit and miss I think. I just got lucky last night.
