The state of New York gets into the used car sales business
Posted on Friday, March 30, 2012 at 8:39:51 PM
New York’s Office of General Services will be selling more than 450 used cars on a new eBay store beginning in April, reports CBS Albany.
Emergency command vans, plows, vehicles outfitted with a pizza oven, SUVs, trucks and cars will be included in the sale.
The minimum bid for a vehicle will be $500. On average, they are 11 years old and have nearly 1220,000 miles on them. The sale is intended to deplete the state’s overburdened coffers, which has a predicted budget gap of $3.5 billion and unload inventory.
While these deals may seem ideal for many consumers, there is a measure of risk. Vehicles purchased at auction will most likely not have the same insurance of quality as one bought from a dealer. In addition, there is typically no financial protection against the risk of purchasing a lemon. People may wish to consider their auto financing options before buying such an investment online sight unseen. It can increase the chance of getting something that will last years without trouble.