the types of used car auctions
are several types of used car auctions available for the consumer. Many
of these auctions are held at automobile dealers and often feature cars
that have been repossessed by banks or finance companies. These cars
can be quite new, and can often provide a good bargain for those
looking for a used car. The government also holds auctions of cars that
it has seized as a result of drug or other criminal activity. Once
again, these cars are often new and may be in very good shape, and can
sell for a relative pittance. Auctions of cars from rental agencies are
often a good choice, as these cars have generally been well maintained.
There are also online auctions, such as eBay Motors which provide you
with an opportunity to bid for a car online.
of the cars sold at used car auctions are sold "as is". This will mean
that in the event of mechanical failure you will have no recourse with
the seller. Sometimes you will be able to get a guarantee that the car
will last at least 30 days, but you will have to pay a fee for this.
3. Early bird gets good deal
you are attending an auction, try to get there early so you will be
able to look the cars over. You will not be able to have a mechanic
check over the cars beforehand, so try to have some familiarity with
the model of car you are interested in. Regardless of how a car looks,
if you have any negative feelings about it, any qualms, pass it up. If,
however, you have located a car that looks and feels right, you should
bid on it.
4. Control your mind set
people who are new to used car auctions make a big mistake - they fail
to set a price limit in their own mind. Once the bidding starts, they
tend to be come caught up in the action and will often end up bidding
too much. Before you even go to an auction, decide on the upper limit
you can or are willing to spend, and stick to it. No matter how
wonderful a car looks, if the bidding goes past your limit, leave it. I
have been to auctions where people have become so blind to what is
being bid that they actually pay more for a used item than they would
for one they could buy new in a store. This just does not make sense.
should also be aware that the end price you will pay for an auto from a
used car auction will almost always be greater than your bid. That is
because there are always additional fees that must be paid. There is
often a buyer's premium that will be a percentage of the sale price,
and which will generally be hundreds of dollars.
Used car auctions are often a great place to find good
cars at a bargain
price. However, in order to do so, you must do everything possible to
protect yourself from fraud or mechanically faulty cars. Do your
homework, run a check on the VIN, and chances are that you will find
just the car you need.