Getting a Deal at an Auto Auction
Looking for a great deal on a car? Try a public auto auction. Not only can great deals on used cars be found there, but also some incredible higher end cars too. A lot of people buy these vehicles either to drive themselves or to mark up for future sale.
This pleasant experience, however, can quickly turn sour if you don’t know a few things. Maybe the car isn’t as wonderful as it seemed. There are lemons at auctions too.
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. He makes a cursory look at the car, but every question is met with “the car is as is” from the salesman. Finally the man agrees to buy the car, pays for it, but when he opens the door to get into the car it falls to pieces. He exclaims “I want the car as was!” Don’t be like that man.
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.
Auctions also come with a built in problem. Auctions can be a great deal, but the price could also be more than common retail. Like other types of auctions, auto auctions can be the same way. Bidding might rise beyond the real value of the car. There are also fees to pay, so pay close attention.
Easily accessible data on car values is standard issue for auction buyers. No need to even look it up in advance since the information is online and phones can access it. It’s pretty foolish to pay more for a car than it’s worth even if it’s an eye catcher.
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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This entry was posted on Friday, February 13th, 2009 at 11:58 am and is filed under Auto Insurance News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.