Buying used cars in auction sales is not for the faint of heart. Nor is it something you just roll up and attend, then drive off in a steal of a bargain!
Purchasing an auto at Auction Sale requires planning, research, and a lot of commonsense. If you are the sort of person who easily gets emotionally attached to something you see for sale, then buying a car through auction is probably not going to save you money. In fact, you may even end up setting a new record at a car auction for the highest price paid.
From State to State, there are any number of auto auctions taking place. Once you have decided on which auction you are going to attend, then it is time to check out the “fine print”.
One of the first things to do, is to speak with the particular auction house directly about their terms and conditions. You want to avoid any nasty surprises. Find out how much the buyer premium is. This is basically a fee they charge to register you and it gives you the right to bid. You can attend for free and just observe if you wish. That is also the best way to understand what goes on at the used car auction sales.
Also, ask them about the payment options and when you can actually get the vehicle you have bought. Make sure you will get all the relevant paperwork with clear title and ownership. Confirm the registration status as well. States may have some differing requirements to other states.
Take your Kelly Blue Book with you or check out the normal dealer prices around the greater area for the models you are interested in purchasing at the motor auction. This way you will know when the bidding has reached normal market price. You do not want to be bidding anywhere near this price! You want to be bidding at a level where you can still get a saving on your car purchase.
The last point is to check the vehicles over before you bid. Watch how the other bidders go over the vehicles. Perhaps even ask your local Auto Technician or Mechanic to go with you, or maybe offer to buy them lunch. A little money spent here can save you a pile of trouble later on. As an extra note, perhaps consider arranging some temporary insurance cover before driving away in your new car..
There are auction sales selling used cars happening almost every day, somewhere in your State. Some auctions are fed with Autos seized by Government agencies, some are expired fleet leases, while others are dealers and private people selling for a number of reasons. Which ever it is, you now have some solid tips to help you buy at used car auction sales.