Buyers Tips for an Auto Auction
It’s easy to find discounted car bargains at a public auto auction. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. A lot of people buy these vehicles either to drive themselves or to mark up for future sale. But unless you keep some things in mind the auction can turn into a nightmare.
Maybe the car isn’t as wonderful as it seemed. Every car at an auction isn’t a hidden gem. Cars sold at such auctions are generally sold according to used car laws which tend to make it an “as is” sale. Remember the old Sesame Street skit in which a man looks over a car with “as is” in the window. As he inspects the car he asks a lot of questions to which the salesman always responds “as is”. After the sale is final the buyer tries to drive the car, but the doors fall off and the engine explodes. He exclaims “I want the car as was!” Don’t be like that man.
People are given the chance to inspect the vehicles at auto auctions. Don’t make a purchase or even a bid at any auction that won’t accommodate that practice. Spend time at the facility before the auction begins. Look around and test drive the cars of interest. Bring a mechanic to provide an expert eye. If that isn’t possible, at least drive the car for an inspection during the test drive. A good mechanic can provide a thorough inspection in a short time. Look for other issues such as dings or dents or rust .
Auctions also come with a built in problem. Auctions can be a great deal, but the price could also be more than common retail. 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. Know the prices of similar models in similar conditions from Kelly Blue Book or other sales data. 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. There’s a sucker born every minute. Don’t be the minute man at an auto auction.
