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Deals on vehicles and jewelry through a U.S. government auction website were a steal in more ways than one: An Oklahoma man pleaded guilty to hacking a website to buy the items for $1 each ...
Buying a car at auction requires a whole new set of rules and things to watch out for, whether it's a government or law-enforcement auction or one with vintage and high-end cars meant for collectors.
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority. [1] [2] [3]
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
Program logo The Toyota Corolla was the program's top seller according to U.S. DoT [1] The Ford Explorer 4WD was the program's top trade-in according to the U.S. DoT [1]. The Car Allowance Rebate System (CARS), colloquially known as "cash for clunkers", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel ...
Knowing whether you will buy or lease a car can further help you estimate costs and financially prepare. “There are benefits of both a lease and a loan,” Horne said. “With a loan, there is ...
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