Reposessions on the rise

Repossessed cars have been coming into Interstate Auto Auction since we have been open.

With the recent struggles in the economy Interstate Auto Auction is seeing first hand a huge rise in repossessed cars.

"Car repossession occurs when a person falls behind on their car payments and the creditor reclaims the car. The basic idea behind car repossession is that the car has been bought on a hire purchase or loan agreement. This means that the goods you have bought are not legally yours until payment for the goods has been settled in full. Once this has been achieved, you will be classed as the rightful owner of the goods.
If you fail to keep up the payments as stated in the agreement, then you can face repossession of the goods. If this happens, then a lender can take legal action against you for the money owed to him. Unless you have a grace period set out in the agreement, a creditor can take your car back if you are only a day late with payments."wisegeek.com


If your car has been repossessed or if you are struggling with credit and loan payments then you have stumblled onto the right place. Our Auction offers the public a Second Chance on repossessions and other cars for Wholesale Prices. If you have bad credit it does not matter at our auction. We can help you.

Question 2 (What does passed mean?)

Simply put. Passed means the price offered during the auction is not high enough for the vehicle to sell.

Impotant note....
Remember! All cars that run Green light (as you know from the Question 1 post below) come with a gaurantee good motor and transmission. Hence a value is attached to them. If this value is not met and the company chooses not to sell the vehicle then the vehcile is passed on.

What happens to the car once it is passed?

The vehcile may go in the next Saturday or Wednesday auction or be brought to a Dealer Auction where the public cannot buy it.

Auction Questions (Question 1. Auction Systems?)

Most all auctions have a system in place to allow people to understand what quality of products/cars they are bidding on. Allot of auctions have multiple lanes running 3 to 10 cars simultaneously. As you can imagine for a rookie bidder this can be over whelming and very chaotic. In this system each lane will have names such as Lane A, Lane B , and Lane C. Each lane represents many different meanings. Most important being that the lane represents the overall quality of the car. For example, Lane A may indicate top of the line cars that need no work at all while Lane C would have cars that are a little rougher around the edges. This of course changes the value of the cars. For example, lets say that in Lane A and Lane C you see a Red 2002 Honda Accord. You see that both 2002 Honda's are identical in options, mileage and cleanliness, but the Lane A Honda sold for $3,000 more then the Honda in Lane C. This just simply means you get what you pay for. The Lane A Honda is a better car then the identical Lane C Honda that needs brakes, has AC that needs to be fixed, and a power window that no longer is working. The question you most ask yourself is it better to save $3,000 or not. It really is that easy to understand Auction Car Values. Know The system... So here is how Interstate Auto Auction's system works.

Our auction uses a lighting system that is both easy to see and understand.

1. Are most valued Cars are GREEN LIGHT. These are the only cars that you will see online. Means that the vehicle's motor and transmission are in good working order. After delivery of your vehicle, Interstate Auto Auction will provide a 1 hour arbitration period for engine and transmission issues. Full refunds will be issued for valid arbitration claims.

2. YELLOW LIGHT: Yellow Light indicates that an important announcement regarding the vehicle is being made (ie: condition of vehicle or special title announcements).

3. RED LIGHT: Vehicle is being sold as-is. No warranty or guarantee on the vehicle. No refunds will be issued for any defects. We run all Cars Red light on site only!!!! We highly suggest to test drive all these cars from 9am-5pm so you know what you are getting!

Feature Car of the Week 2003 Land Rover Freelander

Only 60,000 Miles!!!! This Luxorious Land Rover is in lovley conditon, the Interior of this High End SUV is fantastic on gas! This can be yours for only $7,900 or even less!!!! Wow!!!!!

Land Rover above sports dual heated, gray leather seats and Ac. The Exterior is great condition with Alloy Wheels, named brand tires, Sunroof. There is a scratch to front driver side wing door. Vin#: SALNY22253A236773

The Land Rover Freelander is a compact crossover SUV made by the British Land Rover, a subsidiary of the Tata Motors. It is currently in its second generation, marketed as LR2 in a number of regions including North America .

The Freelander, wholly designed by the Rover Group, was born after market research in the late 1980s suggest that a market for compact off-roaders was likely to develop. Although BMW took over Rover Group in 1994, the Germans did not get heavily involved in the development of the Freelander. The car was launched in 1997 and it rapidly became the best selling compact 4x4 in Europe.

FAQ's About Auctions

This Week Interstate Auto Auction will be answering frequently asked questions about the auction process. Many different aspects of our auction will be examined and explained in detail to better help you not only understand how our car auction works, but how many other auctions work as well. Please feel free to ask your questions on the blog or or email us at auctioncar@comcast.net

What May 31st Tax Rebate Blow out Sale Means

By coming in on Saturday May 31st at 10am you will receive one of the best opportunities to save thousands on your next new car. How? For the First time on a Saturday we will be selling cars at no reserve!!! They will all come with a good motor and transmission Guarantee! Or you get you money back. We have cars coming in right now that have been repossessed by Massachusetts State Constable Authority coming from Atlantic Credit and First Financial Corp. These units will be selling for almost nothing.

No Reserve means Car will sell to the high bidder regardless of the price!!!!

Cars are coming in now and will be available for viewing online or in person at our Location at 20 Hampshire Rd in Salem NH 03079.

603-893-7777

Feature Car of The Week 1999 Cadilac Escalade

Watch This Fully Loaded Luxury Vehicle Sell for Pennies on the dollar. We Expect this Escalade to sell for $5,900. WOW!!!!!!!!!!!!!!

Tired of looking at compact cars when what really need is a luxury SUV!!! What a rare opportunity, this Exquisite Escalade is FULLY LOADED, with comfortable Cream Leather Interior in great condition. Burl wood trimmings on the steering wheel and throught out the georgeous interior. The only thing we could find that was not perfect was that the rear wheels are on metal while the front wheels are on alloy, but if you walk away from this one because of that you will be sorry. Vin#: 1GYEK13R3XR401431 KELLEY BLUE BOOK VALUE $10,885

Wikipedia states
"The Cadillac Escalade is a full-size luxury sport utility vehicle sold by the General Motors Corporation luxury brand, Cadillac. It was the division's first major entry into the popular SUV market. The Escalade was introduced for the 1999 model year in response to German and Japanese competitors and to Ford's 1998 release of the Lincoln Navigator. The Escalade project went into production only 10 months after it was approved. The standard Escalade is built in Arlington, Texas.

First Generation/Origins (1999-2000)
The first Escalade was very similar to the top Denali trim of the GMC Yukon. It shared all of that truck's exterior panels, which were themselves differentiated at the front from the regular Yukon/Tahoe. Even the wheels were identical, with the GMC center caps replaced by Cadillac crests.
The Escalade also used the same 5.7L Vortec 5700 V8 at 255-hp (190kW). All first-generation Escalades featured all-wheel drive. "

Huge May 31st Blow Out Sale Coming

Saturday 10am Tax Rebate Checks will be permitted for payments as well as the normal cash or credit card. Right Now Repos are being set aside for May 31st! Do not Miss out.

Proxibid: Interstate Public Auto Auction Auction Catalog - INTERSTATE AUTO AUCTION

Proxibid: Interstate Public Auto Auction Auction Catalog - INTERSTATE AUTO AUCTION

Mercedes For Auction

http://www.interstateautoauction.com

Come see some great deals on HIGH END MODELS!