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Posts Tagged ‘Public Auto Auction’

It can be difficult finding a car you like at a price that’s affordable. When you shop at a typical car dealership, you’re constrained by what they have for sale, and there isn’t a lot of flexibility in the price. But an alternative that many people don’t think of is the public auto auction.

So what is an auto auction exactly? It’s an event where both individuals and dealers can purchase vehicles by bidding on them. The main benefit is that you are more in control of the situation.

Is the bidding price getting too high for your wallet? Simply quit bidding. Or maybe nobody else is bidding on that mint convertible and you’re able to buy it for a song. You don’t have to fall in with the demands of the dealer. Buy your vehicle like they do and don’t pay the middleman fee.

You have more than one choice when it comes to purchasing a car from a public auto auction. The conventional way is to attend the auction in person. You stand there with everyone else who is hoping to get a good deal on a car. To bid on the vehicle you want, you lift up your bid paddle. The last person to bid is the winner.

Another option for placing your bid is through the internet. An online auto auction is gaining in popularity as a convenient way to buy a car. It’s becoming more common for auction houses to have a real time, online bidding system.

Say for example that the auction that interests you is too far away to travel to. However, you can bid on the car of your dreams from the comfort of your own home. This is actual bidding just as if you were right there at the auction. Instead of raising your paddle, you input your bid through your computer. Many people find it preferable to standing in the crowd and holding up their paddle.

It’s possible to get a real bargain at an auto auction. Some of them sell off cars that have been donated and offer them at no minimum bid. Of course, there’s usually a good reason that the car was donated. It probably needs a lot of work. But for people who are skilled at fixing up cars, it can be a really good deal.

Buying your vehicle at an auto auction is a whole different way of doing business. You bid on exactly what you want and pay only what you can afford. You can buy your car the same way the dealers do and save yourself some money.

People love to find terrific deals and great ways to save money when they are thinking about making a purchase. When it comes to buying a vehicle, finding a deal that shaves a percentage or two off the price can result in a savings of hundreds of dollars. A public auto auction provides some excellent opportunities for being able to pick up a super deal on a used car.

However, if you are thinking about going to a car auto auction for the first time to get a new vehicle for the family, then you do not want to go to the event without the proper knowledge and preparation. Without understanding the process and being properly prepared before going to motor car auctions, you could actually end up getting yourself into a bad deal and spending more money than if you had just shopped at a traditional car dealership.

If you want to avoid getting burned the first time to try to buy a car at a used car auction, then it is a good idea to follow the advice of others who are experienced public auto auction bidders. With their tips and expertise in mind, you will have a better chance of getting a super deal on a great car.

First of all, people need to understand some of the basic facts relating to public car auction proceedings. Most of these motor car auctions have vehicles that were seized by a government agency, such as the police, DEA or IRS, or that have been repossessed by a bank or financial institution. All of these used vehicles are sold 100% “as is” and they do not carry any kind of warranty or guarantee. Therefore, any problems with the car simply have to be dealt with by the winning bidder, who will have no recourse with the seller.

Also, if you get the winning bid, you cannot return the car as all sales are absolutely final. Some people have tried to get a reimbursement for a vehicle that turns out to be a “lemon,” yet this is extremely difficult to do because the car auction houses expect that bidders know exactly what they are getting themselves into before placing a bid.

Anyone who bids at public auto auctions also needs to keep in mind that you don’t only pay the amount of the winning bid. On top of the bid price, the winner must also pay a buyer’s premium that will equal anywhere from five to ten percent of the amount of the bid. This additional money pays for the services of the auction house and auctioneer. In most states, you will also need to pay for a license, registration and transfer fee.

Another thing that can be very helpful to people who are considering buying a vehicle at a public auto auction is to take along someone who can give you an good assessment of the vehicle, if mechanics is not your strong point. There is a brief amount of time before used car auctions to inspect the car you are interested in bidding on and the more you, or your companion, know about cars, the better choice you will make. If you have a clear understanding of the auction process and you take the time to properly check out the vehicles, then you might be able to grab a super bargain at the next car auto auction you attend.

Buying a car is always a big responsibility. However actually making that choice on where your going to purchase your new automobile is a big decision to make that you have to think through carefully. You have numerous options to choose from on where you can purchase your next car. You may buy it from a car lot or even off of EBay but have you considered local auto auctions as a place to get your next used car? Auto auctions are becoming quite popular. However there are some factors that you should certainly take into consideration prior to completing such a significant purchase from an auction. Are you actually aquiring the best deal for your hard earned dollars? You have to ask yourself what happens if anything goes wrong? These are questions that you have to think about when it comes to your new purchase. In the rest of this article we will cover what auto auctions are and how they can either help or hinder your pursuit of a new automobile.

Are auto auctions open to the public?

Most auto auctions are open to the public. This is especially true of vehicles that are being auctioned off on online websites. You may be required to register with the auction house before you begin bidding though. They will verify your identity and verify that you have a way to pay for the automobile after you have won the auction. There are some auctions, though, that are closed to the public. These auctions are only open to car dealers. The best way to find out if an auction is open to the public is to call the auction house and ask.

What forms of payment are accepted at auto auctions?

Each auction company has different rules about forms of payment. Some will accept a local check while others out of the area may not. Cash is always a good idea to have when you go to one of these auto auctions. If you buy your car from an online auto auction you may be able to pay with PayPal and then bring the rest in cash or a certified check when you go to pick up the vehicle. If you are unsure of what form of money to bring you can always call the auction company to see what forms of payment they accept.

Where do auto auctions get their cars??

Auto auctions get their cars from a variety of sources. The automobiles might be from repossessions that are foreclosed by the lender or even the bank. Some cars come from private owners who want to sell their car in an auction environment rather than through the newspaper. Ebay is an online auction site that has become very popular with quite a number of dealership who sell their inventory through that website.

Is the seller obliged to state any defects on the car?

There is a huge difference between what a seller should do and what they actually do. This is where ethics comes into play. If the seller knows that the engine is knocking or that the car has been wrecked they should disclose this knowledge to the public before bidding commences. Many states require that if a seller knows about a particular problem and does not disclose it, they can be held liable if the car breaks down after purchase. Basically it is the seller committing fraud against the buyer and fraud in all states is illegal.

To learn more go to Government Seized Car Auction also
Government Auction and at Real Estate Auction