Buying a Car From An Auction
Mention car auctions to most people and you will hear horror stories. Whilst it is true that buying from an auction is one of the riskier ways to buy a car, there are bargain to be had. After all many dealers buy from auctions and they are out to make a profit on the cars they sell.
So whats the best way of buying from an auction ? Well perhaps the best way is to go with someone who is familiar with auctions and with cars ! Obviously this isnt always possible so here are a few hints and tips.
1. Research the model of the car you are looking to buy. Are there any problems to look for when buying secondhand ? Most importantly get an idea of prices.
2. Then familiarise yourself with the auction. Go along a few times to see how things work, find out payment terms and get a feel for prices. Remember you will have buyers fees to pay on top of the auction price. Check the conditions of sale also.
3. Check the auction catalogue to see if the car(s) you are interested is in the auction.
4. On the day of the auction arrive early allowing yourself plenty of time to view the cars before the sale. Take a torch and have a good look around the car. Check for oil leaks, check tyre condition, look for dents and scratches in the bodywork. At most auctions you wont be able to view the inside of the vehicle until its ready to be driven into the auction hall. Usually there will be a sticker on the window giving details of any service history etc.
5. Be aware of the order of the auction so you dont miss any cars you are interested in. On average cars are sold at a rate of about 1 per minute so its easy to miss any potential buys.
6. When the auction driver is ready to drive the car into the auction hall this is your chance to look at the inside of the car. Check the condition of seats and carpets. Check if there are any warning lights on the dashboard. Ask the driver if the clutch is ok and maybe check any controls inside the car. Listen to the engine for any unusual noises and also check the exhaust for smoke.
7. During the auction itself stand where the auctioneer can see you. Have a price in mind and stick to it. Listen very carefully to any details the auctioneer gives about the car. Once bidding starts make your bid clear to the auctioneer. Scratching your nose wont be good enough ! Above all stick to your price as its easy to get carried away.
8. If you win the car you will required to pay a deposit immediately. If there is any type of warranty on the car you will only have so long in which to make a claim after the auction ends.
Remember, dont feel pressured to buy the first car you see. Many larger car auctions will have hundreds of cars going through every week.
Questions and Answers
You can make tons of money using car auctions to your advantage. But it's more than just buying any car and selling it.
People today are interested about buying a used car at the car auctions. Most people can expect car dealers who have the priority are allowed to go to car auction blogs. This information is improper. Everybody can go to the repossessed car auctions.
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