Car Auction Tricks: How to be sucessful at Car auctions
You might have heard of people coming away with great bargains at car auctions. It is true that you can actually get to buy great cars at throwaway prices at a number of car auctions, but for this to happen you need to know a few basic car auction tricks. These auction tricks are not designed to make you fool anybody, but rather to help you from being made a fool of yourself.
Get prepared in advance: Buying a car at an auction is not as easy as going to a showroom and driving out with your preferred car. A car auction can be easily compared to a competition where the best person wins, since in a car auction also, the person with the highest bid gets to take his or her preferred car home. However, becoming the highest bidder at a car auction might not actually make you a winner. Taking a good decision will and for this you need to start preparing yourself at least a month before you actually bid for your preferred car. The first thing you need to do is to get a list of all the car auctions that are going to be held in your area. The larger the number of auctions that you can attend; the higher are your chances of finding your preferred car at a good price.
Read up and check thrice: Once you have a list of all the car auctions that are going to be held and you have already narrowed down the particular kind of car that you want to bid for, it is time to start your research. In order to get a fair idea of the market price of the car that you are planning to buy, approach at least two to three dealers as a buyer and ask them what that kind of car (make, model and mileage) would cost you. Deduct at least ten to fifteen percent of what the dealers tell you and you have with you the actual worth of the car. Deduct another ten to twenty per cent (after all, you are supposed to save at an auction) and set this as your maximum bidding price. Carry out this process for at least three to five types of cars, since you might not be able to find the particular make and model you are looking for at auctions if your choice is limited to just one.
Always attend the preview: Potential customers are allowed to check the vehicles being auctioned a day or two before the actual auction in what are known as auction previews. This is your opportunity to see the car up close and personal and check it for all kinds of defects. You should take along a mechanic to the preview, since only someone well versed with automobiles will be able to detect engine problems, defective or cheap spares, remodeling and paint jobs etcetera and give you a fair idea of the actual value of the car being sold.