April 4, 2018

The Pros and Cons of Car Auctions

Government Car Auctions

Due to the world economic downturn, it has been a necessity to tighten ones belt and attempt to spend less without having to sacrifice ones standard of living. Government car auctions can be a great way to purchase highly desirable cars at highly desirable prices.

Where do these cars come from?

The source of the cars come from various places, some are repossessions of people that have not been able to keep up their mortgage payment or car repayments, others may vary from failure to pay road taxes, insurance or they might simply simply be repossessed due to The car / vehicle being involved in some type of criminal activity.

The Pros and Cons of Car Auctions

Let me point out to you the following 'Pros' and 'Cons'

'Pros'

1. OK, if you're buying from a government auction you're more than likely buying someone's repossession so they will probably go for a lot less than their actual market value … a lot less !!! In some cases even up to 90%.
However, Do not always feel guilty, it's impossible to tell where they came from, some of these cars have been confiscated from criminals who have cheated the system.

2. You can pick up some really special cars here, BMW's, Merc's, Porsche's, almost anything! Some of the most desirable cars around going at prices that are just too good to be true.

3. Its like a surprise bag / lucky dip, you'll never know what's there, there will be hundreds of cars all shapes and sizes, the choices are endless.

4. These auctions usually happene a few times per month, so you do not have rush into anything. If you started with a particular price but you were out-bid you're more than likely going to find a similar car the next time round, or even the same day.

5. There are no pressure sales, If you want to buy the car … you put you hand up. If you do not want to buy the car … do not put your hand up – the only person you have to negotiate with is yourself and not some pushy salesman.

'Con's

1. In any auction, you're under legal obligation to pay for what you bid on (only if you win the bidding).
Let me create a scenario: If you bid on something and realize that you made a mistake, then the hammer goes down and you're the last bidder, there are no pullouts! Take special care when bidding and make sure you're conscious of what your limit is.

2. If you bid and win the bidding, the car is yours (after you pay for it, of course). A lot of the cars have inspection warranties, but some do not.
If you did not do your research before the purchase and suddenly you realize that there is a scratch you did not notice or the doors fall off when you drive home, …

Forex investment is being advertised across all forms of media right now as a great way to make money. The advertisers imply that it is an easy and profitable way to invest your money and let’s face it under the current economic climate we are all looking for an easy low risk option to make some extra cash. So let’s take a closer look at forex, understand what it is and evaluate the true risks.

Forex is an acronym for ‘foreign exchange’ and forex investment trading is a form of investment by taking advantage of the movements or exchange differences between foreign currencies.

Because the rate of exchange between a pair of currencies is constantly changing, it is possible for a shrewd trader to make a lot of money by accurately predicting these changes. It’s very similar to trading in stocks and shares on the stock market, you buy when the price is low and sell when the price is high.

As is common with investing in the stock market, forex traders can take a medium to long term view based on a steady drift in currency prices over a period of time. However, the advertising suggests short term gains and to be fair, this is what most forex traders do. They use trading skills and techniques to make relatively small gains over a short period and repeat the process over and over.

A forex trader will buy a currency when he thinks it will rise in price. This is called opening a trade. A closing trade is when he sells a currency because he thinks it price is about to fall. Often he will open and close a trade within minutes. The skill is in watching the markets and recognising a pattern developing which he knows from experience will lead to an upward or downward trend and thereby chooses to jump in and open or close a trade.

Many traders use a system which either they have developed themselves over many trades or they buy an ‘off the shelf’ system which can provide a short cut through the learning curve to becoming a successful trader. This is what most of the advertisements are trying to sell and it is necessary to be very wary about some of the claims made with some of these systems. There is also software available which automate the whole process and robots open and close the trades for you based upon parameters built into the software. There are one or two of these robot systems emerging in the marketplace now which look very promising (I post monthly reviews of such products on my blog).

With the ever increasing accessibility and popularity of the internet, brokers have seized the opportunity to attract a lot of a new breed of investor to the forex investment market – people with relatively small funds can begin with just a few hundred dollars. Many are encouraged to think that they can make a lot of money in a short …

Buy to let property insurance is a unique insurance product specifically designed fr landlord renting out properties on short hold tenancy agreements. Choosing this kind of specific buy to let insurance is an absolute must for anyone considering becoming a buy to let landlord.

By having a regular domestic property insurance policy (not specific buy to let property insurance) can leave you not covered adequately something should go wrong. One example of the difference between a regular and buy to let policy is the amount of time you are allowed to have the property unoccupied. With many domestic policies you'll be covered if you leave your property unoccupied for a short period such as 3 weeks, for example if you go away on holiday. However when renting your property, the time between one tenant moving out and another moving in can in certain circumstances turn into several weeks or months. This covers you for longer periods such as this.

Imagine you are letting a property out, the tenant moves out. While you are letting agent is searching for a new tenant for you something happens such a tragedy over the period of a few days, causing the place to fall down. Imagine the horror when you discover that because you property insurance is not buy to let specific, you are not covered! Yes this might be a far fetched example, however it illustrates what may happen if you do not upgrade your policy to buy to let property insurance.

For the sake of a phone call and a slightly higher premium, this can save you thousands in the long run. …