Monday, April 20, 2009

What I'm hearing from auction regulars.

There's been a dynamic shift in the economy for the worse during the last 9 months. We all know this. But we all still have to drive. Living life means driving.

But what's happening is that people are so scared to spend money - even if it's just a small amount for a car at auction - that they're just milking their old and beat-up cars for everything they can. They figure they'll get a new car when the economy turns around. But you know what? That's what everybody figures.

So when the economy does turn around, I can guarantee that the auctions are going to be WAY more crowded than they are now. One guy who has hit some local car auctions told me last week, "There's just nobody at these things right now," he said. "Almost every car is a huge bargain. It's shooting fish in a barrel."

You heard the man. Shooting fish in a barrel. Like nabbing a 2007 4Runner for $3,000 or a 2006 BMW X5 for $6,000. Sign up for a site and start hunting while the hunting is good - better than it's ever been!

Sunday, April 19, 2009

New Updated Rankings!

I have recalculated the rankings after hearing from dozens of you about your experiences with the sites ranked below. There is a new No. 1! These are the best rankings I've put together yet, because they not only take in my own judgements and experiences but they also reflect the thoughts and experiences of hundreds of my loyal readers when it comes to car auction sites. These rankings are thorough and well-thought out; I have not seen a better resource on the web for car auctions than this blog. That's the truth. Reader reviews have given the new No. 1 auction site five stars across the board for its honesty, thoroughness and the number of auctions it gives users access to. The site is much improved and I've found more vehicles, for better prices, on our new No. 1 site than on any other. They worked to improve their database and their interface and it's paying off. Go below and check out the new rankings! Thanks!

Rankings can be found below or here.

Monday, January 5, 2009

Today's New York Times: Terrible year for Car Makers. Used and new vehicles overflowing sale lots. What does this mean? Auctions cheaper than ever.

2008 may well go down as one of the worst years in the history of the auto business AND the consumer credit business. That means TWO things:

1. Car lots, used and new, are overflowing with vehicles - many of which will have to be unloaded at auction.

2. Cars are being repossessed at a record rate as people fail to meet their payments. Where do repossessed cars end up? They end up at car auctions, pure and simple.

This new year of 2009 should be the best year we've ever seen for snagging cheap cars at auction. The auction listings are fatter than ever and I've never seen this kind of volume before. Get signed up with a good auction site and prepare for the best car deals you have ever seen! Happy Hunting!

Be sure to see my car auction site rankings below.

To read today's New York Times Article on how bad 2008 was for the automakers, see here:

New York Times - 2008 was disastrous for all car makers, American and Imported.

Wednesday, November 19, 2008

AMERICAN-MADE CARS: They are a bargain right now!

If you're interested in finding the best car deals that can be had right now - and there are a lot of them in the current climate - then you already know that buying your vehicle at auction is your best and smartest bet. What probably didn't occur to you is that American made cars, those from GM, Ford and Chrysler - are the best buys in the car world right now. People are picking up late model Chevy sedans and trucks, Ford SUVs and Chrysler minivans at less than $2,000 regularly.

The reason is that people are afraid - and rightly so - that our American carmakers won't be around much longer. Their woes are all over the news. The companies are quickly running out of cash and the bad economy is hammering them. The federal government is weighing a bailout program for the three that now looks like it may not materialize. People are afraid that nobody will be around to make American car parts or service their car in the future. Let me tell you know that these fears are unfounded. A cheap F-150 is a good deal - even if Ford hits some rough patches.

But that's okay. Here's what we have to realize: the only one of the automakers that the government will allow to go extinct is Chrysler. That is a possibility. But Ford and GM will be around. They have to be around. They are, as the cliche says, too big to fail. The government may let the companies fall into bankruptcy, but that only means that the carmakers will be able to reorganize and reemerge from Chatper 11 stronger than when they went in. They will shed their unwieldy union contracts and their pension funds and they will be able to compete with Toyota, Honda and Europe for decades.

Ford and GM have healthy customer bases overseas. Chrysler does not. If Ford and GM go into bankruptcy, rest assured that the government will supply the financing for them to exit. The car parts business and servicing business is a huge and profitable one that isn't going away. Nor are GM and Ford. Even bankruptcy, in this case, won't end these companies' reigns. They will be there in 5 years or 10 years when you need a part or a mechanic.

The moral of the story here: You will never find cheaper cars than right now. And you will never find cheaper American cars EVER. They are screaming to be bought. And there is nothing to be afraid of. These cars are the best American cars ever made, there just aren't enough buyers right now. The car market - and the American carmakers - WILL turn around. We've been through tough times before. In two years, when the automakers have recovered, your move now to buy a Chevy or Ford will look brilliant. Who said you can't get a next-to-new car for $1,200? Whoever said that wasn't living in these strange times. So jump in and make it happen. See my post below where I've rated the best online auction sites!


Tuesday, November 4, 2008


The price of gas, as I'm sure you know, has dropped below $3 nationwide. Our car markets, however, have not yet recovered. Our nation's auction lots are AWASH in great vehicles with few miles and even fewer bidders.

The car market will turn around. It always does. Don't wait until the car market is roaring and firing at full speed again - cars at that point will have gone up considerably in price. Buy LOW, buy now. There has never been a better time to be a shopper for a car at auction than right now, in late 2008. The deals I'm seeing are just absolutely ridiculous; cars at auction have never been cheaper. It's simply supply and demand. There's tons of supply from repo sellers and car dealers right now, but there's almost no demand.

Car shoppers are staying at home, sitting on their hands. And then watch as they all come out this spring looking to buy, and they all get burned by rising car prices. The lesson: buy now, buy LOW. This is a once-in-a-decade type of opportunity. Don't waste it. Read my posts below to learn what car auction sites are best and then get into the car you want for 10-15% of bluebook value. Good luck!

Sunday, November 2, 2008

Buying Cars and getting Credit has become tougher than ever. But we have options - good ones.

As we all know, the economy isn't in the best shape right now. The carmakers are in trouble and banks have pulled back hard on all of the lending, from home mortgages to car loans. And that's unfortunate for us auction hunters because there has NEVER been such a flood of cheap, almost-new cars to the auction scene as there is right now. Never. The opportunities out there are so ripe, it's unbelievable. All you have to do is look. The deals are literally everywhere.

The situation with banks, however, has made things a little tougher on us. When you go to an auction or prepare to bid on an online car auction, you need to have some plan on how to get your hands on the money to pay for your new car. You may have just landed a 2007 Toyota 4Runner for $4,500 at auction, but if you only have $1,200 in cash, you're going to have to come up with $3,300 somewhere! If you can't, then you won't be able to seize on these incredible deals.

The obvious solution is to get a simple car loan. But, as we know, getting a loan out of a bank these days can be a huge chore, and one that just isn't possible sometimes. And the best way to approach these car auctions is to do so with the financial side of the car purchase already set up to some degree, so the deal doesn't fall out from under you once you nail that perfect car at auction.

To that end, I've been looking for a great source for car loans - a place that is still lending ordinary people money to make their lives go around and keep cars - nice cars - in their garages. My conclusion is this: There is still lending going on out there, but you have to know where to go. So who still has their lending doors wide open?

This place is the No. 1 Auto Loan Network in the nation and it is still humming on all cylinders. Better yet, they're ready to help you get into the car you want at an affordable price. They will work with anybody.

I would not recommend this place unless I knew its application process was FREE and came with no obligations. It takes a minute to apply at There are no hidden fees. Their computers can tell you very quickly what they can do for you. Again, the application is free and it takes no time whatsoever. Even if you're not sure that you're going to buy a car, getting your loan material in order is always a good thing. Then if you stumble into an auction bargain, you'll be ready!

So fill out an application here and then see my AUCTION RATINGS above and get searching!