Investments in police auctioned cars

[asainlowrider01]

Im sure i'm not the only person to ever think to do this, but whats everyones opinion about police auctions? I live in Las Vegas but I have been to police auctions in LA and they seemed pretty legit. I wanted to save up a couple of bucks and purchase a car at an auction and turn around and sell it for a little profit. Like i said, im sure im not the only person to think this up, but im wondering if there are specific things i need to take into account such as; pink slips, vehichle history, car problems etc. Any feedback would be very helpful.
thanks

[scooter44]

I looked into doing this once, and I think you need a license to purchase a car at an auction...


please correct me if i'm wrong. I've been wanting to do this in Cali for a couple years but never did any extensive research.

[MacDaddy]

I would hope the police are being legit.

its going to depend on what happens when you get there, if your looking for something to flip, i think your better off looking on craigslist and local car dealers to find someone who dosn't know what they have and undervalues their vehichle.

[GTO]

Yeah you would need a sales license, and a business license really if you were to sell these vehicles. If you picked them up at a public auction any carfax report would show police auction on the title or some negative effects, repo, so on and so forth, its a better idea to just go to general car auctions and find inexpensive clean title cars just in need of a little wash and minimal care to turn it over.

[norcatalyst126]

I looked into doing this once, and I think you need a license to purchase a car at an auction...


please correct me if i'm wrong. I've been wanting to do this in Cali for a couple years but never did any extensive research.

I'm pretty sure in CA there are public auctions which do not require a license, and then of course, private auctions which do.

Also, I think in CA if you buy/sell "X" amount of vehicles you will have to get a license, if they catch you.