You may have heard people say that buying vehicles from police impounds in government auctions is the key to getting your own car at dirt cheap prices. Read on to find out more.

So, are they scams? Definitely not - These auctions are real. They take place almost every day in various parts of the country. In most cases, anyone can attend and participate. And it is possible to find good deals. You can see from the starting bids that the vehicles are sold not to make a profit, but rather to simply get rid of them. This is because the options the government has are either to conduct frequent auctions that will let you buy these cars at amazing prices or to let them fall apart. They simply don't have the space to keep them in good condition for ages looking for profit. It only makes sense to auction the police impounds off at prices that you normally would not expect to get a car for.

The auction normally starts with a symbolic sum, which, of course increases with the participants bidding on the vehicle, yet it is possible to buy a good running car at as low as 10% of the retail price. Ultimately, the final price of these police impounds depends on the number of people involved in the auction, but as a rule, anything above the wholesale price of the vehicle may not be worth the money.

Having said that, don't get the impression that police impounds auction is the perfect and foolproof way to get your dream car at the dream price. Even if these auctions start with an extremely low bid, you will not be the only person bidding. Just like in every auction, the better the item, the higher the bid will go. You might have to return disappointed from a few auctions before you find that elusive perfect car. The key is to set a comfortable budget and stick to it. A simple rule you can use is to get by the wholesale price of the vehicle minus some costs involved to do some minor refurbishing.

Uncover useful tips on government seized car auctions such as where to find police impounds car auctions near your home.