Everything You Need To Know About Car Auction 101 -- Learn About Practical Guidelines


by Nathan Knightley - Date: 2008-11-12 - Word Count: 398 Share This!

Car auctions are great ways to purchase cars at deep discount. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. Many people purchase cars this way either for themselves or to sell at a profit. A little information can make an auction an even better experience.

One possible problem is that the purchase might not be a good one. 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. 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 let that happen to you.

Car auctions generally give potential buyers time to look over the cars. Avoid the auctions that don't. Spend time at the facility before the auction begins. Inspect and take a spin in the interesting autos. 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. It doesn't take long to check key components like the engine and breaks. 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. Like other types of auctions, auto auctions can be the same way. 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. 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. If a deal appears too good to be true, it is, even at car auctions.

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