Sarah Smith
You do not want to spend too much for a car at an auction because the car will be an everyday reminder of your mistake. Many people find reliable rides for cheap at car auction. Although auctions do not provide the most relaxed car-buying environment, they offer the best deals if you know what you are doing. They let you avoid overly ambitious owners and outrageous dealer markups but can be financially damaging if you do not know how to buy a car at auction.
Here are a few tips that may come in handy when buying a car from an auction.
1. Study the Auction Catalog
Do dot dive in head fast without checking out the ownership trail. Also, find out if the vehicle was re-bodied and if the numbers match. Do not just go for a vehicle simply because the model is famous. First, research the history of that particular example and find out if it is a recreation or a tribute. If a vehicle seems to be out of place in that auction, care to know why. If you do not understand the VIN codes, find someone who can. If you have a particular model in mind, educate yourself on its features before the auction.
2. Attend the Auction
It is more convenient to bid by phone, or online, but it is advisable to bid on a vehicle that you have seen and inspected. You or your representative should be present, especially in used car auctions. However, attendance is not enough if you do not use your eyes. Usually, vehicles at public and government auctions sale on visual inspection alone. Therefore, observe them keenly for telltale signs of repaired damages such as puddles under the vehicle, less than smooth sheet metal, paint over-spray, an uneven stance, and scored brake discs, etc.
Does the engine sound okay, or are there any leakages? Look past the shine and be suspicious of vehicles that look too good to be true. Ask the owner about the work that has been done on the car. Remember, “I don’t know” is not acceptable.
3. Do not be Scared of the Superficial
It is standard practice for vehicles in government yards to be stored for a long time before the auction. Weathered paint may not necessarily mean that the car is mechanically unsound. However, at public auctions, that can mean that the vehicle is such a basket case that the seller did not see any need for trying to fool buyers.
4. Know Vehicle’s Value Before You Bid
Research online to have an idea of the vehicle’s value. That can take only a few minutes on websites such as Edmunds and Kelley Blue Book, so you need not memorize the costs before hand. You should also check for local prices in classified listings and on Craigslist.
Kindly note that all transactions are final and there is no legal recourse. And, you have no guarantees that the vehicle you are buying is not a heap of trouble. Thus, you should try to buy any vehicle in an auction at the lowest price ever. Do not purchase a car if you do not have the tools and ability to deal with its mechanical challenges.
5. Observe Other Bidders
Some bidders are more experienced as some people make a living from auctions. Watch carefully for signs of expertise and observe those who you believe to know what they are doing. When the car that you want comes up, observe their reactions. Some of them have been buying cars at dealer auction for a while and have learned to tell gold from polished stone. Also, watch out for bidders who seem interested in every lot as some are just there to pump up the prices. If you can, attend a few auctions to know the key players.
6. Don’t Get Caught Up
Although adrenaline levels may rise when buying a car from an auction, do not get emotional or overexcited in the bidding. In the least, be as cautious as you can. Do not end up spending more than you budgeted for simply because you do not want to lose a particular vehicle.
You can always come back another day, try another auction, or opt for a different vehicle. Always be ready to walk away if you do not feel like you are getting a good deal.
That does not necessarily mean that you should hang back and join the bidding late. That technique works sometimes, but in some cases, it can generate another bidding surge if someone thinks they missed something.
