Getting a Deal at an Auto Auction
Posted on November 20, 2008 in the Uncategorized category
An 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. 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.
Some of what can go wrong includes buying a bad car. 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. 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. He makes a cursory look at the car, but every question is met with “the car is as is” from the salesman. 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!” Nobody wants to become that guy.
People are given the chance to inspect the vehicles at auto auctions. Avoid the auctions that don’t. Arrive early. Look around and test drive the cars of interest. If you don’t know anything about cars, bring someone who does. 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. Check other elements for damage. This includes the body, upholstery, and bumpers .
The very nature of auctions leads to another common issue. 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. Be very careful because fees will be added to the final bid price. Easily accessible date on car values is standard issue for auction buyers. Phones with Internet access can bring this info to your fingertips while attending. Don’t pay more than the car is worth, even if it’s a coveted antique.
It’s not hard to find bargains at auctions. But come armed with information and expertise. If a deal appears too good to be true, it is, even at an auto auction.
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