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!
skip to main |
skip to sidebar
Consider a 2005 Toyota Camry. Buy it at a dealer or from its former owner and you'll pay an average of $16,000. If you get a 5-year loan at 7% interest, your payment will be $316 a month. Not so bad, right?
But now consider finding that same car at auction and paying $5,000 - a very common auction price on this common car. Your payment on a 5-year loan at 7% for this car would be $99. That's a savings of $217 a month - imagine saving that money or having its additional heft for a bigger mortgage payment or home improvements. It's a $2,500 a year difference - a total of $12,500 in savings over the course of the loan.
And, even better, if you hunt with just a little effort at trustworthy, proven auto auction sites, you can find a 2005 Camry for as low as $3,000 - that would be a $59 monthly payment on a 5-year, 7% loan - a $257 monthly savings on your car payment!
I found the BMW SUV my family wanted for less than 25% of market value. It allowed me to consider a car that, normally, I couldn't afford.
Give the auction sites a shot and widen your driving possibilities and improve your life.
I've been hearing from a lot of you! Thanks for the emails! Here's what some people are saying:
I'm a bargain hunter. But I don't like getting burned - and I was burned by bogus websites claiming to be government and repo auction sites. Don't make my mistakes. Search intelligently and use proven websites.
Best auction deals of last week:
Consider the sound economics of buying at auction for your next vehicle. It convinced me.
Consider a 2005 Toyota Camry. Buy it at a dealer or from its former owner and you'll pay an average of $16,000. If you get a 5-year loan at 7% interest, your payment will be $316 a month. Not so bad, right?
But now consider finding that same car at auction and paying $5,000 - a very common auction price on this common car. Your payment on a 5-year loan at 7% for this car would be $99. That's a savings of $217 a month - imagine saving that money or having its additional heft for a bigger mortgage payment or home improvements. It's a $2,500 a year difference - a total of $12,500 in savings over the course of the loan.
And, even better, if you hunt with just a little effort at trustworthy, proven auto auction sites, you can find a 2005 Camry for as low as $3,000 - that would be a $59 monthly payment on a 5-year, 7% loan - a $257 monthly savings on your car payment!
I found the BMW SUV my family wanted for less than 25% of market value. It allowed me to consider a car that, normally, I couldn't afford.
Give the auction sites a shot and widen your driving possibilities and improve your life.
Email me to sign up for my car auction newsletter and to be notified of new posts here.
My email: jlincolncar@gmail.com
Put "newsletter" in the subject line!
Put "newsletter" in the subject line!
I've been hearing from a lot of you! Thanks for the emails! Here's what some people are saying:
- "Who knew buying cars could be so much fun!" -- Ernie J., Colorado.
- "Score! I got an almost-new Ford F-150 for $4,800. This will save my business a ton of cash." -- Greg S., Florida
- "There isn't much that I've done smarter than getting my car at an auto auction that I found through your rankings. And I absolutely love my Civic -- it's only 2 years old and cost me $1,900!" -- Susan M., Calif.
- "Your information has proved invaluable. I just used your No. 1 ranked site to get a BMW 3-series for $2,100. I am thrilled!" -- Claire G., Texas
- "Your website rocks! Thanks for the help!" -- Bruce P., Calif.
- "Your site helped me a ton. I just got a Jetta with less than 20,000 miles for a steal! Thanks!" -- Kelly A., Ohio.
- "Getting my car via auction proved to be one of the best things I've done in years. Thanks for posting all of this information, it really helped!" -- Craig S., New Jersey
