Many lenders who reposes cars will later hold repo cars for sales, in order to ensure they salvage something, on the lost payments which the original borrower did not make. If a borrower buys a car, and does not make the payments on it, the lender who does retain possession of the car, will later auction it off, for a much lower price, in order to get something, rather than to have to eat the entire loss, from the borrower who was not able to make the payments on the car that they originally bought, for a price they were not able to afford. As a buyer, this is a great opportunity for you, and it is a great way for you to break in, and find some of the top make and model cars, for a fraction of what they are being sold for by the dealer. Since the lender is trying to salvage anything, you are going to make out with these sales, and you are going to be able to bid well below retail; as long as you are the high bidder, you can win these cars for much lower prices than the actual worth of the car.
When you are trying to find a sale, you have to do the research to find out what kind of cars are going to be auctioned off, at the auctions you will attend. There are quite a few auctions, and most are going to be held by lenders; you have to know what you want to buy, what your max bid is, and what you are trying to win, so that you can find the right car, and so you can find the auction where you will be the high bidder, when time comes for you to decide on the one you will choose. When attending the auctions, you have to consider all top make and models, as well as what others are going to be willing to bid, so you can find the best deals. Especially at the silent auctions; since you do not want to over or under bid, you have to research on past auctions, and what similar cars went for, so that you can place the right bid, beat out the other buyers, yet avoid paying too much, when you do take part in these auctions.
There are quite a few great cars out there, and you can find them for well below the retail price, if you do take part in an auction. You simply have to find dates ,what is being auctioned off, and all the information you need, so you can take part in them, and possibly buy a car for a much lower price than the true value. When you know where to go and what to bid, you can find an exceptional deal, and you can find the big name vehicles at a local repo cars for sale, for a price you would never expect to find the car for.