can i really get as good deals as adverstised?? can you guys tell the pros and cons of it....any decent is capcble of getting 5 stars!
2007-10-22 14:58:50 · 5 answers · asked by Joe D 1 in Cars & Transportation ➔ Buying & Selling
You do not need a dealer license to buy at all car auctions. Only at the "wholesale auctions " are you required to have a dealer license. If you are just looking for an occasional good deal, check out the local live auctions. If you are planning to do this as a business, then you would need to have a dealer license. Check with your state to find out how many vehicle transactions (purchase or sale) you can perform before you need to be licensed. The vehicles sold at impound auctions tend to be pretty rough and I would recommend avoiding that type auction unless you are looking for a parts car or a real "fixerupper".
2007-10-22 15:13:49 · answer #1 · answered by Otto 7 · 0⤊ 0⤋
In order for you to make anything you would have to have a lot of knowledge about automobiles and the going price for them. A lot of times you will have to apply for a lien title Because the impound lot doesn't posses the real one. You rarely find a deal in the impound yard. There is a lot more trouble than it is worth. I wouldn't buy anything from an impound auction unless I was going to use the vehicle for parts. Be careful of you will wind up getting stuck with a bunch of junk. You DO NOT need a dealers license to bid on vehicles.
2007-10-22 15:07:25 · answer #2 · answered by chuck t 4 · 1⤊ 0⤋
If you want to get a car from an auction, call the bank and find out when they are auctioning off their leased vehicles. You will need to have financing or cash available the day of the auction, but you can usually get some pretty good deals. You will have time before the auction to view the cars.
2007-10-23 01:54:12 · answer #3 · answered by stingray41042 3 · 0⤊ 0⤋
Rarely do you find something in an impound auction that doesn't need work. If the vehicle was worth much, they'd find a way to get it out of impound.
2007-10-22 15:02:43 · answer #4 · answered by curtisports2 7 · 0⤊ 0⤋
You have to have a dealers license to go and bid at auctions. The "Impound auctions" you see advertised in newspapers and such are scams. Go get a dealers license, and go find an auto auction place near you. You can pick up some spectacular deals, and if you can learn (or already know) how to wrench, you can make some decent money fixing small problems and reselling.
2007-10-22 15:02:15 · answer #5 · answered by zanilth1984 4 · 0⤊ 3⤋