6 Things You Need to Know About Car Auction

Posted: Mar 10, 2011 |
Prior to attending a car auction, it is useful to know these 6 things about them so that you are prepared for what's in store for you: 1. The source of vehicles The vehicles at a government car auctions are seized by government agencies such as the police, Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS). That said, don't expect the vehicles to be in tip-top condition as they are well, used. 2. No warranty or guarantee Vehicles sold at an auction are sold as they are. No warranty or guarantee will be given, unlike the one or two months that you may get from a used car dealer. If the car you have purchased has problems, you have to deal with it on your own, for there is no contact whatsoever with the owner nor will these agencies take care of those repairs. 3. Goods sold are not returnable If the car you have bought turns out to have serious defects or you are dissatisfied with it, you have no choice but to swallow the pill. Auction houses assume that bidders know what they are getting and it is actually the bidders' responsibility to check the item with the help of a mechanic, therefore vehicles sold through an auction is not returnable. 4. You pay more than just the winning bid Why, are there hidden fees, you may ask? They aren't really 'hidden' but the total amount that you need to pay consists of a buyer's premium that costs between 5% - 10%, a license, transfer fee and a registration. The buyer's premium is actually the cost of the auction house's services, as well as the auctioneer's. 5. There are physical inspections Sometimes, potential buyers are allowed to inspect the vehicles prior to an auction. If you are allowed the opportunity, do so by all means. At other times, you will only be allowed to inspect the cars before the auction starts, but that is good enough to at least know what you are in for. Make use of these opportunities and bring along a mechanic with you. 6. Auctioneers have tactics to get higher bids Auctioneers know how to get bidders to keep naming prices even though it looks like the bidding has finished for a particular item. You would need to attend one of the auctions to observe how they do this. Take note of their tactics to encourage further bidding, and then you'd know how to stay 'safe' from this later when you are ready to make bids yourself. Now that you know what goes on in an auction house, you'd be better equipped in securing that winning bid!

Questions and Answers

Ask
200 Characters left
Rate this Article
  • 1
  • 2
  • 3
  • 4
  • 5
  • 0 vote(s)
    Feedback
    Print
    Re-Publish
    Source:  http://www.articlesbase.com/automotive-articles/6-things-you-need-to-know-about-car-auction-4386677.html

    Article Tags:

    car auction

    ,

    car auctions

    ,

    car dealer

    ,

    government seized cars

    ,

    auction houses

    ,

    auction house

    If you are in a tight budget you might want to consider buying cheap old cars for sale, either online or from used car dealers. There are also many old cars being sold through auction, which is one of the best ways in getting cars at a greatly reduced price. Most online car auctions will feature both old and later models, and you expect that most bidders will aggressively contest for the later models driving the price high.

    By: Ricky Liml Automotive> Carsl Nov 27, 2008 lViews: 1,016

    These days, it looks like everyone is hunting for the best quality car available at the most affordable price. Usually, when car shopping on a budget, people opt to go to second hand car dealers. However, there is a huge chance that you might not get the best value for your money.

    By: Ricky Liml Automotivel Mar 07, 2009 lViews: 9,278 lComments: 1

    In economic concept, it refers to any mechanism or set of trading guidelines for exchange. It is also a approach in which you obtain and sell goods or companies by providing them up for a bid, taking bids, and then selling the item to the highest bidder. That is Auction. In this guide, the facts about seized cars auction, online vehicle auctions, and general public car auctions will be mentioned. Seized Car Auction is a single of the very best alternatives you have if you are planni...

    By: micr tonerl Automotivel Sep 14, 2010

    Used Car Online Auctions can be a great way to save up to 90% off the retail price of a car. Here are a few tips that will help you get the most out of your visit to an auto auction center or website.

    By: Larry Kearneyl Automotive> Carsl Nov 30, 2009

    These days, our society has become more prone to the luxurious life. People want to live with all the comforts, big houses, bungalows, good food and wine, and most of all nice cars.

    By: Ricky Liml Automotive> Carsl Apr 08, 2009 lViews: 117
    March Summers

    International vehicle transports service providers offer facilities for shipping you vehicle across to the new country. These vehicle transport companies have the legal authority, the right infrastructure and a wide network to carry out their operations.

    By: March Summersl Automotivel May 28, 2012

    Thinking about cars brings to mind parts like the engine, brakes and radiators as these are indispensible for proper functioning of the vehicle. But there is another important part which deserves mention and that is the windshield. Irrespective of whether it is bought online or from local auto glass shops, a windshield is manufactured from a special glass which is different from the normal sheets.

    By: dylanrossl Automotivel May 25, 2012

    Imagine the day when you finally have your very own car after years of commuting, working and saving for it.

    By: angelicaemmanuell Automotivel May 25, 2012

    Are you thinking of buying a fancy car like a Pontiac or a Porsche? Do you have an old car you want to get rid off while at it?

    By: angelicaemmanuell Automotivel May 25, 2012

    Compact crossover sport utility vehicles, also known as small crossover SUVs, combine the attributes of compact cars and larger sport utility vehicles.

    By: angelicaemmanuell Automotivel May 25, 2012
    Anna Peacocks

    As a loyal Windows user, I am often faced with problems associated with viruses, malware, spyware or even the perplexing blue screen of death. Such nuisance had cause a lot of disruption in my work hence lengthening the time of my job. Thus encouraging me to switch from a Window user to an Apple user, and I am contented and pleased with this decision of mine.

    By: Anna Peacocksl Computersl Dec 08, 2011
    Anna Peacocks

    Technology evolves drastically over the centuries and had been one of the cores of human's lifestyle. However, many are still computer illiterate as most of them are unaware of computer/ technological terms, for instance, registry cleaners.

    By: Anna Peacocksl Computers> Securityl Dec 08, 2011
    Anna Peacocks

    Registry cleaner are often associated with malware or viruses. Hence, to ensure users are able to locate one that is safe to use, recommendations and reviews must be observed.

    By: Anna Peacocksl Computers> Securityl Dec 08, 2011
    Anna Peacocks

    According to Wikipedia, a fire extinguisher is an 'active fire protection device that is used to extinguish and control small fires, often in emergency situations'. Fire extinguishers are required to be placed in all buildings and in some countries, they are a requirement in homes as well. They come with types of agents such as water, foam and dry chemical.

    By: Anna Peacocksl Technologyl Sep 23, 2011
    Anna Peacocks

    We all know that food has a very direct link to our well-being and mental and physical health. Similarly, our mental stat determines the type of food we eat.

    By: Anna Peacocksl Home and Familyl Sep 23, 2011
    Author Box
    Articles Categories
    All Categories
    Quantcast