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Impound Auction
An impound auction is when police sell seized and confiscated vehicles to
the public. Cars end up at the impound lot because of the owner’s
criminal activity, failure to make payment, or if the cars have been
abandoned. The police hold an impound auction to get rid of the cars
and to refund the costs of towing and storing the vehicles. Those
interested in bidding on a vehicle at an impound auction should have a
clear understanding of impound auction rules and regulations. State
laws may vary. Bidding can occur at the impound lot or in an online
auction. It’s usually a good idea for the bidder to see the cars before
placing a bid. The vehicles are sold “as is” at an impound auction and
do not include a warranty or a mechanical inspection. The winning
bidders are expected to take the vehicle from the lot at the conclusion of
the auction. Therefore it is important the bidder has a clear idea of what
he or she is looking for. Because many of the vehicles at an impound
auction have been abandoned or involved in a crime or a crash, they are
listed well below market price. Those experienced with bidding at an
impound auction can find a great deal.
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