Government and Police Car Auctions - Cars For Under $200?

Many people know that governmentcar and vehicle auctions (includes police auctions) area great placeto find highly discounteddeals on cars and other vehicles. Want many don't realise is thewide variety of vehicle types and models available in great condition that are auctioned off at afragment of what they areworth.But canyou actually by a vehicle in good shape forless then $200?

First let me explain the reason as to why thesecars are sold at such low prices.It'sbecausethe government works under a different set of rules thenbusinesses trying to buy and sell in order to profit. The government generally has little to no directcosts involvedin obtaining these cars. In the oddcase that it does have costs (i.e. paying back lenders, repossession costs, etc.) the government is not concernedon makinga marginsuch as a car dealershipwould be. They are simply trying to liquidate their inventory ofvehicles, to retrievequickmoney and reducevehicle storage costs.

So where do all these cars andvehicles come from?You're probably imagining a 'repo man' who is stealing back a car that the owner defaulted payments on ora drug bust in whichvehicles were confiscated.CongratulationsTV has educated you, but they also come fromother sources such as government surpluses. This is wheregovernment or government agency purchasesa newvehicleto perform a project of public service and then that vehicle is no longer required. So when you consider the wide rangeof sources these vehicles are obtained from it's notsurprising thatthere is such a widevariety available at these auctions.

Government car auctions are held often in many locations all across the country.They are sometimesheld online but I would recommend attending an actual livegovernment or police auction so that you can inspect thevehicle before you decideif it'swhat you want and that it's in the kind of shapeyou expect. What I was surprised to discoverwas the number of newer cars in great shape. That is becausemost of the payment defaults happen in the early stages of a loan. For example, if the car is newer and someoneowes morethen the car is worth, they are less motivated to make the payments. If the owner isfurther into paying off the car (car is older) thenthey have moreequity in the vehicle and are more likely to continue payments.

You can find useful information concerning upcoming government and police auctions in your areaby browsing throughlegitimate government auctionsites. Theyprovide you with the details you'll need including where the auctions are, dates, phones numbers, etc. and in some cases providelistingsof the upcoming auctions. So how do you know if a government auction site is legitimate?

Because there are so many auction sites on the net Irecommend thatyou check with a government auction review site that specializes in providing free evaluations of these sites.They will differentiate between the sites that have updated and accurate information onauctionslistingsversus the sites that are misleading and uninformative.UnfortunatelyI estimate for every 1 good site there are probably5 that arescams.

In summary, if you're looking to purchase a newcar or vehicle for either personal use or to resellthem attending agovernment auction is a given. Why buy from a used dealership that may have bought the car from a government auction in the first place. Surprisingly the majority of people are still notaware of these auctions becausethey aretypically not advertised.

In answer to the $200dollar question, I have seen many winter beaterssell for as lowas$200 butI personally feel the best valuesare from the2-5 year oldcars and vehicles in great condition that sell for$2,000-$6,500, depending on make and model.

To locate heavily discounted cars and vehicles at the best auction sites check out government auction reviews or to see examples for some of these auction prices visit police auctions.

Refinance vs Home Equity Loan

If you find yourself in need of a large sum of money for some reason, you may be considering using the equity in your home by either doing a cash-out refinance or getting a home equity loan in order to gain access to the money you need.

With the federal government beginning to slowly lower interest rates, you may be wondering if you should do a cash-out refinance in order to get that lower interest rate as well as gain access to the money you have in equity. This may be a tempting situation, but a lower interest rate is only one of the things that you should take into consideration.

When you refinance your home, you are taking out an entirely new mortgage. You use this new mortgage in order to pay off your original mortgage. In the case of a cash-out refinance, you borrow more on your home than the original mortgage balance, using your equity as collateral. You can then use the money left over after the refinance is completed to do anything you'd like. You can pay off credit cards, take a vacation, make home improvements, etc.

There are drawbacks to cash-out refinancing. First of all, your mortgage balance will be bigger and will most likely be extending your loan term. Mortgages are written with either 15 year or 30 year terms. If you only have 8 years before you pay off your mortgage, refinancing to even a 15 year mortgage is nearly doubling your loan term.

There are also considerable fees involved when you refinance. It would be worth your time, and sometimes a great deal of money, to find the best deal on fees that you can find.

With a home equity loan you are using the equity in your home as collateral on a loan. Home equity loans can be for a set amount or you can get a home equity line of credit, which is an open-ended loan that can be used just as you would use a credit card, keeping in mind that when you use that line of credit, you are using the equity in your home.

Home equity loans are easier to get than a refinance, especially if you have bad credit. The interest rate is also usually lower than a refinance, and the payments sometimes qualify as being tax deductible.

No matter whether you choose a cash-out refinance or a home equity loan, be sure to do some research on the companies you are considering working with. The best way to choose a good company to work with is to ask your friends, family and coworkers for recommendations. Ask not only about the process itself, but about how they were treated by the people they were working with. Were they rushed into decisions, or did they feel that they were given good information so that they could make the final decisions themselves? Remember that you are the customer, and when you are taking a large amount of money out against your home, you shouldn't be rushed into anything.

If you are interested in learning more about mortgages and refinancing then please visit our site at http://www.refinancingright.com/ - There you will find a wealth of information to help you get informed on issues related to your home loan.

If you have questions that we don't answer feel free to contact us by email and we will be happy to answer your questions. Our policy is to give you the very best information so you can be informed and get the very best mortgage refinancing deal.

Lower Your Mortgage Payments Today

The easiest way to lower your mortgage repayments each month is to switch over to a new mortgage deal. This process is known as refinancing your mortgage. Essentially all it means is that you move your existing mortgage loan from one deal onto a new deal which may or may no be with the same mortgage lender.

Why refinance you mortgage?

The main and obvious reason to refinance you mortgage is to reduce the amount of interest you are paying each month. Recent cuts in interest rates have meant that many borrowers that have fixed mortgages are now paying a much higher rate of mortgage than they would if they were to take out a new loan today.

In addition to recent cuts in interest rates, many borrowers find their monthly repayments have risen sharply after their discounted or teaser interest rate period has expired. Once their repayments move to post teaser rates many borrowers suddenly find themselves unable to meet their repayments or having to cut their expenditure elsewhere.

What if I have bad credit?

Refinancing is usually a great way to reduce your mortgage repayments, but is it possible if you have a poor credit score? It is a fact that if you have a bad credit score you will end up paying more interest than a borrower with a great credit score however you should still be able to refinance.

There are numerous specialist lenders out there that specialize in supplying mortgages or refinance to borrowers with poor credit scores. Approaching one of these lenders is the best plan for someone looking to refinance who may have a poor credit rating.

For more deatails about how to refinance your mortgage or how to earn extra income please click here.