A public auto auction is a great way to purchase a car at a deep discount. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. Many people purchase vehicles this way either for themselves or to sell at a profit.
But unless you keep some things in mind the auction can turn into a nightmare. Some of what can go wrong includes buying a bad car. The car won at auction might turn out to be a lemon.
The rule of the auction jungle is "as is". The old children's show "Electric Company" taught children about this with a man considering a used car with an "as is" sign in the window. The salesman responds "as is" to every question. Once the sale is made and the man tries to enter the car, it shakes itself apart. The unfortunate buyer shouts "I want the car as was!" Don't let that happen to you.
Auto auctions generally give potential buyers time to look over the cars. Don't make a purchase or even a bid at any auction that won't accommodate that practice. Take the time to do some leg work. Inspect and take a spin in the interesting autos. Bring a mechanic to provide an expert eye. If that can't happen then test drive it to a quick inspection at a garage.
A good mechanic can provide a thorough inspection in a short time. Look for other issues such as dings or dents or rust.
Another problem is inherent in auctions. People assume that the auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. It's no different at auto auctions. The bidding can easily escalate to well over the car's value. Add the fees often associated with the auction and it means great care must be taken to know the real value of a car.
Be armed with Kelly Blue Book values as well as real sales examples of similar models and years. With Internet enabled phones and the like it's now easy to look up this information while on site. Don't pay more than the car is worth, even if it's a coveted antique.
Keep in mind there are deals to be found. Don't go in blind, however. An auto auction follows the rule of thumb of every sale, buyer beware.
But unless you keep some things in mind the auction can turn into a nightmare. Some of what can go wrong includes buying a bad car. The car won at auction might turn out to be a lemon.
The rule of the auction jungle is "as is". The old children's show "Electric Company" taught children about this with a man considering a used car with an "as is" sign in the window. The salesman responds "as is" to every question. Once the sale is made and the man tries to enter the car, it shakes itself apart. The unfortunate buyer shouts "I want the car as was!" Don't let that happen to you.
Auto auctions generally give potential buyers time to look over the cars. Don't make a purchase or even a bid at any auction that won't accommodate that practice. Take the time to do some leg work. Inspect and take a spin in the interesting autos. Bring a mechanic to provide an expert eye. If that can't happen then test drive it to a quick inspection at a garage.
A good mechanic can provide a thorough inspection in a short time. Look for other issues such as dings or dents or rust.
Another problem is inherent in auctions. People assume that the auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. It's no different at auto auctions. The bidding can easily escalate to well over the car's value. Add the fees often associated with the auction and it means great care must be taken to know the real value of a car.
Be armed with Kelly Blue Book values as well as real sales examples of similar models and years. With Internet enabled phones and the like it's now easy to look up this information while on site. Don't pay more than the car is worth, even if it's a coveted antique.
Keep in mind there are deals to be found. Don't go in blind, however. An auto auction follows the rule of thumb of every sale, buyer beware.
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