Tips for Buying Cars in Auto Auctions
Auto auctions can be great place to buy and sell cars. By buying at an auto auction, you can get a car for cheaper than you can get at the local used car dealer?s yard.
However, there are a few things to be aware of when buying at an auto auction. Used cars are still used cars, and you should use your common sense. Before you even go down to the auto auction site, you should do your research as to the type of car you want. Research the different marques and models on the market and make a short-list of the type you want. If the sort of car you?re after isn?t up for auction, then wait. There?ll be another auto auction another day that will have what you?re after.
If you?ve seen that a car that you want is going to be up for sale in an auto auction, then be careful to check it out thoroughly. Most auto auctions will give potential bidders a chance to look over the vehicles and kick the tyres.
But if you?re buying a car in an auto auction, you?ll need to do more than just kick tyres. Start the engine and check for black smoke pouring out the exhaust. Check everywhere for rust and signs of old dings. Check the engine and the lights. And, if possible, take it for a test drive. If it?s not running and looking exactly how it should, then don?t buy it. Remember, there?ll be another auto auction another day where you will find something suitable.
Once you?ve found the right car and made sure that it?s in good mechanical order, then its auto auction for real. This is where the unique side of an auto auction comes into play. This is where you have the chance to get a good used car for a bargain price.
All cars for sale in an auto auction will have a reserve price on them. This is the bare minimum that the car will sell for ? after all, the original owner of the car wants to get a fair price for their used vehicle. Bidding on an auto auction will usually start below this reserve price to warm things up a bit. In a good auto auction company, the auctioneer will let bidders know when this reserve price has been met.
If you are going to a live auto auction, then you don?t need to worry that if you sneeze, you?ll end up buying a Ferrari you didn?t really want. Auctioneers at auto auctions are not stupid and know how to recognise a genuine bid. Often, bidders at an auto auction will be issued with numbered paddles which they can raise to place a bid.
Bidding in auto auctions can also be done online. If you want to bid in an online auto auction, make very sure that you check the car out first (obviously, it will have to be in your local area for you to do that).
But whether online or live, make sure that you set yourself a budget and stick to it. An auto auction can be very exciting and can call out the competitive nature in many people. This is ?auction fever? and sees people bidding ridiculously highly to beat out the competition. Don?t be a mug! Sure, it may feel good to win the auto auction, but at the end of it all, you?ll have to pay for the car you bid on.
However, if you resist the temptation to succumb to auction fever, then an auto auction can be a way to pick up a good car at a reasonable price. Used car dealers often go to auto auctions to find the cars for their yards, so if you bid against them and win, you?ve probably saved yourself their commission/mark-up on the vehicle.
frank j vanderlugt owns and operates http://www.harfinsol.com 2 Harfinsolcom
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