Car Auctions – An Introduction
Looking for a great deal on a car? Try car auctions. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. Many people purchase cars this way from car auctions either for themselves or to sell at a profit. 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. The car won at auction might turn out to be a lemon. Cars sold at such car 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.
Reputable car auctions give buyers ample opportunities to check out the cars before bidding or purchase. Avoid the auctions that don’t. Spend time at the facility before the auction begins. Look around and test drive the cars of interest. Always have on site car knowledge, meaning bring a mechanic who knows about cars if you don’t. If that isn’t possible, at least drive the car for an inspection during the test drive. Decent inspections take only a few minutes to check the important elements of the car including the motor, belts, brakes, and the like. Anyone with a decent eye can check the body, interior and other physical elements for wear and tear.
Another problem is inherent in auctions. People assume that the car auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. That holds true for car auctions too. The car’s value can be quickly eclipsed by excited bidding. There are also fees to pay, so pay close attention. Easily accessible date on car values is standard issue for auction buyers. With Internet enabled phones and the like it’s now easy to look up this information while on site. It’s pretty foolish to pay more for a car than it’s worth even if it’s an eye catcher.
It’s not hard to find bargains at auctions. But come armed with information and expertise. Car auctions follow the rule of thumb of every sale, buyer beware.
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