These are hard times, no doubt for just about all of us. Let’s give some consideration to automobiles. There are people who have purchased new cars within the last couple of years. Sadly, since that time they have lost their jobs and can no longer afford to make a car payment in the neighborhood for $400+ per month. Before they know it, they find themselves getting their beautiful cars getting repossessed by the finance company. How embarrassing this can be for you with your neighbors, unless it has happened to them too. Now you do not have a car, your credit is ruined, you need a car, what are you to do?
Maybe you have been unemployed or underemployed for a number of years. You know what tough times are all about. You wonder if that old clunker of yours is going to make it for another month or not. You don’t want to take your children in the car because if it breaks down on the road, it won’t be safe for the children. You need to get another car, but to get a bank loan and pay a lot of interest is just not possible for you. Where do you turn.
Many cities have a location where they have used cars for sale, frequently through government auctions. Some of these cars have been repossessed, some have been confiscated by the police, some have been abandoned, who knows. The government has assumed clear title on these cars, and about once a month, or depending on how quickly their lot fills up, they will place these vehicles up for sale. If you are a person who does not have much wisdom about cars, it would be prudent to check around among your friends/relatives to find someone who could go with you to the sale.
In many cases, the day before the sale, the yard will be open for a couple of hours, and then the day of the sale, open early, so that you can walk through the cars and check out cars that might interest you. Once the bidding starts, they will pull a car up to the staging area and take bids. If you are the winning bidder, you must be able to pay a certain percentage down right then. This depends on the sale. (You will want to get the information ahead of time). Usually they will give you a day or so to come up with the rest of the money. They do not provide financing there. Good luck in searching for a car.