Unless you are hibernating or watching too much football for the past years, you must have heard of government seized car selling dirt cheap. Everyday, for so many years now, government agencies have been selling seized cars to the highest bidder. (This is not only limited to surplus and repossessed cars. There are also boats, aircraft, electronic devices, office equipment, furniture, heavy machineries, and foreclosed or seized lots and houses.)
How is it possible?
It may sound to you that the government is so desperate to sell these seized cars but the truth is, seized vehicles occupy a lot of space, which in turn is equivalent to money spend on storage. So, the government agencies willfully sell these vehicles to anyone who is willing to pay for them through auction. Another reason is that the money generated from these government seized car auctions are extra income which will go back … Read More